Skybox Security closes $150m funding round led by CVC Capital Partners

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fintech insurtech wealthtech regtech ai cybertech esg news

Cybersecurity platform Skybox Security has closed a $150m investment led by CVC Capital Partners.  

CVC used its growth fund to make a $100m contribution to the round, with Pantheon contributing the remaining $50m.

Silicon Valley-based Skybox is a cybersecurity management platform which utilises analytics to prioritise risk exposures and provide recommendations on how to address the exposures. The platform, which is used in over 50 countries, combines vector analytics and threat intelligence to improve and automate security operations.

The company’s solutions are used in a range of sectors including financial services, healthcare, energy and utilities, retail, and federal. Some of SkyBox’s clients include BT, HSBC, Orange, P&G, and USAID, among others.

This wave of capital will be used to help with research & development, sales, marketing and customer care. Equity might also be used for potential merger and acquisition activity to capitalise on the market.

Skybox CEO Gidi Cohen said, “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.”

Following the investment, CVC Growth Partners managing partners Jason Glass and John Clark will join SkyBox’s board of directors.

This investment brings the total capital raised by Skybox to around $258m, with the company bagging a $96m funding round from Providence Strategic Growth, early last year.

Earlier this year CVC partnered with Blackstone to acquire payment processing company Paysafe, in a deal worth nearly £3bn.

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