Insight Venture Partners has agreed to acquire a controlling interest in Recorded Future, a threat intelligence company, in addition to the minority stake it already owns. The all-cash transaction puts the value of Recorded Future at more than $780 million.
According to its press release, Recorded Future is the largest privately held threat intelligence software company in the world, with more than 400 clients. Its solution is powered by its patented machine learning, alerting companies to unknown threats before they affect the business, helping teams respond to alerts 10 times faster. The solution pulls information from technical, open web and dark web sources and aggregates it with customer data.
Insight Venture Partners is a leading global capital and private equity firm investing in high-growth technology and software companies. Founded in 1995, it has over $20 billion of assets under management and has cumulatively invested in over 300 companies worldwide.
According to Recorded Future’s co-founder and CEO, Christopher Ahlberg, the investment will help the company “tap into the full potential of its technical roadmap” and solve some of “the most difficult and unique intelligence challenges” today.
“My leadership team and I have had the privilege to work with Mike Triplett and the Insight team for a number of years, benefiting from their sage advice, industry knowledge and relationships,” he commented. “This transaction is the logical next step for Recorded Future given the opportunities in front of us, as we fully realize the potential and vision of our strategy.”
Triplett, managing director at Insight, said: “Insight’s renewed investment is a testament to the vision and direction laid out by Recorded Future’s leadership team. They envision a world where everyone applies intelligence at speed and scale to reduce risk, remaining hyper-focused on providing clients with the threat intelligence necessary to understand their environments, manage risk, and combat malicious actors through contemporary awareness gained from the implementation of a threat intelligence-led security strategy.”
Pursuant to the terms of this investment, Triplett and Thomas Krane, VP at Insight, will join Recorded Future’s board of directors.
Recorded Future customers have included Bank of America, Nasdaq, Abbott and T-Mobile.
Source: Infosecurity Magazine