TechCrunch reports that U.S. secure email communications startup Kiteworks, formerly known as Accellion, has landed a $456 million investment at a valuation of more than $1 billion. Insight Partners and Sixth Street Growth were the lead investors. Insight owns Kaseya and Wiz.
Such newly obtained funds will be directed toward strengthening research and development, business development, and hiring, as well as help continue its aggressive mergers and acquisition strategy, which has so far resulted in the purchase of four enterprise startups, according to Kiteworks, which touts being the lone FedRAMP-authorized security platform for emails and file transfers and sharing.
"This investment reinforces Kiteworks’ role in tackling the challenge of managing sensitive data. We're eager to accelerate our growth and continue innovating to meet our customers’ evolving needs," said Kiteworks Chairman and CEO Jonathan Yaron.
Such a development comes three years after a widespread cyberattack against Accellion, which compromised several major organizations, including Morgan Stanley, Shell, Kroger, and the University of California.
