NetSPI, a Minneapolis, MN-based provider of an enterprise penetration testing and attack surface management, raised $410M in Growth funding.
The investment, which will close by the end of 2022, subject to customary regulatory approvals. was made by KKR.
The company intends to use the funds for technology innovation, talent acquisition, and global expansion.
Led by CEO Aaron Shilts, NetSPI provides security solutions featuring attack surface management, penetration testing as a service, and breach and attack simulation to help enterprises uncover critical security gaps, minimize risk, and reduce the likelihood of a security incident. Founded in 2001, the company serves top financial institutions, largest cloud providers, leading healthcare organizations, and many of the Fortune 500.
Over the past five years, the company has grown its revenue five-fold, with key growth drivers including:
- its Penetration Testing as a Service (PTaaS) delivery model, where human ingenuity and novel technologies intersect to create consistent, scalable, and efficient pentesting results.
- The acquisition of Silent Break Security, which added additional offensive testing expertise and talent depth, along with innovative technologies that have expanded its global offerings.
- The introduction of Attack Surface Management to identify and protect the unknown with continuous penetration testing and manual exposure triaging.
- The NetSPI University training program which enables the company to develop the next generation of cybersecurity talent through formal curriculum and hands-on labs and mentorship, resulting in the most comprehensive training and certification program in security testing.
- Continuous advancement and innovation across all three technology platforms – ASM, Resolve, and AttackSim – to enable teams to deliver more accessible and impactful results.
- Establishing teams in Canada, EMEA, and India as key component of the company’s global expansion efforts.
This investment follows NetSPI’s most recent $90m funding round from KKR and cybersecurity specialist investor Ten Eleven Ventures and comes from KKR’s Technology Growth strategy, which is dedicated to growth equity investment opportunities in leading high-growth technology companies in North America, Europe and Israel.
FinSMEs
05/10/2022