Skybox Security Raises $150 Million Led by CVC Capital Partners’ Growth Fund With Participation from Pantheon

New Delhi, India, October 25, 2017- SkyboxäSecurity, a global leader in
cybersecurity management, announced that the company signed a definitive
agreement to receive a $150 million growth equity investment led by CVC Capital
Partners’ Growth Fund (CVC Growth) for $100 million, with participation from Pantheon
for $50 million. CVC Capital Partners is a leading private equity and
investment advisory firm, and Pantheon is a prominent global investor in
private equity, infrastructure and real assets. 

Based in Silicon Valley,
Skybox has a compound annual growth rate (CAGR) of 46 percent and positive cash
flow (2014­–2016). This round of funding will enable an accelerated investment
in sales and marketing, customer care and R&D. It will also be used for
potential M&A activity, to capitalize on the approximately $10 billion
market opportunity in cybersecurity management.
Skybox builds best–in–class
cybersecurity management software that gives customers comprehensive visibility
of their unique attack surface. The software uses analytics to prioritize an
organization’s risk exposures and recommend informed action to best address
those exposures. These capabilities extend across highly complex networks,
including those in physical, virtual, cloud and operational technology (OT)
environments. The company’s broad platform, the Skybox™Security Suite, enables
organizations to reduce security risks that attackers can find and exploit,
such as device misconfigurations and policy violations, as well as exposed and
unpatched vulnerabilities.
“Skybox’s track record is
impressive and there is clear demand for their solution”, said Jason Glass, Senior
Managing Director of CVC Growth Partners. “It is a true leader in cybersecurity
management, helping organizations better protects themselves and become more
efficient. Gidi Cohen, Skybox’s co-founder and CEO, is a respected innovator in
security management and analytics, and we look forward to working with him and
the wider executive team as we expand Skybox’s offering and global reach.”
The demand for Skybox’s
solutions has been increasing due to a maturing cybersecurity market and the desire
among security leaders to more efficiently manage security programs and gain
better ROI from existing technologies. In the first half of 2017, for example,
Skybox showed a 62 percent increase in sales and 59 percent increase in product
transactions compared to the same period last year (January 1 – June 30).
“Enterprises, governments…everyone
is either embarking on or going through massive digital transformation, and
this means new challenges for security because the attack surface of these
organizations is growing more complex,” said Skybox CEO Gidi Cohen. “We’ve been
consistently evolving our technology to meet those challenges. With this
investment, we’ll accelerate that innovation, focusing on some of the most
critical areas, such as security management for the cloud and the OT networks
that control critical infrastructure”.
Skybox customers are Global
5000 companies and government agencies, in more than 50 countries and nearly
every industry. The company’s products are used by six of the top 10 global
banks, 10 global telecommunications firms, five of the world’s largest consumer
goods manufacturers and 10 of the largest energy providers globally.
Jason Glass and John
Clark, managing partner of CVC Growth Partners, will join Skybox’s board of directors.
CVC Growth has secured total equity commitments of $1 billion and invests primarily
in North America and Europe, focusing on high growth software and technology­–enabled
services businesses in a variety of sectors, including security, cloud
computing, mobility, compliance, payments, financial technology and vertical