Security Vendor Semperis Lands $200M Funding Round Led By KKR
The identity security vendor is pushing for eventual 100-percent channel sales, says CEO Mickey Bresman.
Cybersecurity firm Semperis has raised about $200 million in Series C funding, led by private equity powerhouse KKR, as the Hoboken, N.J.-based company eyes expansion of its R&D and sales operations around the world.
Though it wouldn’t release an updated revenue number, Semperis, provider of identify solutions for hybrid Active Directory users, said it has experienced “hyper-growth” in recent years, with revenues doubling year-over-year from $11.6 million in 2020.
The latest funding round brings the total amount raised by Semperis to about $250 million since its founding in 2015. The company didn’t disclose its latest valuation.
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Besides KKR, Ten Eleven Ventures, Paladin Capital Group, Atrium Health Strategic Fund, Tech Pioneers Fund and existing investors including Insight Partners participated in the new $200 million funding round.
Mickey Bresman, the CEO and co-founder of Semperis, told CRN that Semperis plans use the new funds to grow its R&D team in the U.S., Canada and Israel.
Meanwhile, Semperis is also shooting to grow its customer base in Europe and Asia, as well as in other parts of the world, he said.
And Bresman, noting his firm announced in 2020 that it was moving its sales to the channel, made clear the goal is one day to have 100 percent channel-derived revenues. Last year, about 80 percent of Semperis’ revenue came via the channel, he said.
“We’re very much motived to go all channel,” said Bresman
Identity systems, such as Microsoft Active Directory (AD) and Azure AD, are coming under increasing cyberattacks from hackers around the globe, said Bresman. As a result, Semperis offers customers a “defense approach before, during, and after an attack.”
“From day one, Semperis has been on a mission to be a force for good,” said Semperis in a statement released on Monday. “With Semperis‘ multi-layered identity protection, organizations can fend off cyber attacks without being forced to choose between two bad options: paying the criminals or getting shut down.”
Mark Hatfield, founder and general partner of Ten Eleven Ventures, told CRN that Semperis is “truly unique” due to the breadth of security coverage it can provide customers.
“There’s a big upside here,” he said of the impact Semperis can have within the cybersecurity world.
Asked what lies ahead for Semperis – whether it remains private, goes public or possibly gets acquired one day – Bresman would only tell CRN: “I wish I had a crystal ball.”
As for KKR, the private equity giant is investing in Semperis via its Next Generation Technology Growth Fund II, a fund dedicated to growth equity investment opportunities in the technology space. Ben Pederson, director on KKR’s Tech Growth team, has joined Semperis‘ board of directors.
“A very dedicated customer base, including a growing number of the largest organizations in the world, trust Semperis to defend their critical identity systems from cyberattacks,” said Pederson.
”The vast majority of attacks today are identity-based, targeting credentials to infiltrate businesses. Semperis‘ leading identity protection technology and incident response expertise are delivering category-defining innovation, and KKR is proud to back their mission.“