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Cyber security firm Acronis raises $250 mn funding to expand product offering

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After the funding round, the Singapore-based firm is valued at $2.5 bn

Singapore and Switzerland-based cyber security firm Acronis has raised around $250 million in its latest funding round, media reports said. The fund will be used by the firm to expand its product offerings and marketing efforts. After the latest funding round, Acronis was valued at $2.5 billion. Investors such as CVC Capital Partners VII participated in the funding round.

In a media statement, Leif Lindback, Senior Managing Director of CVC Capital Partners told the media, “Acronis’ talented management and R&D teams have invested significant resources developing an innovative cloud-native ‘MSP in a box’ solution, with integrated backup, disaster recovery, cybersecurity, remote management, and workflow tools. Acronis provides mission-critical solutions to more than 10,000 MSPs and half a million small and medium businesses. CVC has a strong track record in cybersecurity and partnering up with successful entrepreneurs and we are looking forward to teaming up with Serguei Beloussov and the Acronis team to accelerate the company’s growth.”

With regard to the latest funding round, Acronis co-founder and CEO Serguei Beloussov said in an interview, “Last year definitely pushed customers to understand that IT is mission critical and that is for every business.”

Acronis does not plan to go public, however, “We’ve always considered New York Stock Exchange or NASDAQ as a primary market,” Beloussov said.

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