Kiteworks, a California-based company specialising in secure data sharing, has announced a substantial new investment.
According to Silicon ANGLE, the firm raised a whopping $456m, achieving a valuation of over $1bn. Insight Partners and Sixth Street Growth were the main investors, contributing significantly to this financial milestone.
The company is dedicated to preventing unauthorised data access, a critical issue for enterprises today. Kiteworks operates primarily through its robust platform known as the Private Content Network. This system effectively prevents data leaks by monitoring and controlling the flow of information outside the corporate environment. It employs advanced features like the CISO Dashboard to track and manage data sharing activities meticulously.
The fresh capital will be utilised to enhance Kiteworks’ product offerings and expand its operational capabilities. Specifically, the company plans to use the funds to make strategic acquisitions, having already successfully integrated four companies since the beginning of 2022. These acquisitions have strengthened its position in the market, particularly in providing secure file-sharing solutions.
Additional funds will be directed towards expanding the team, with a focus on hiring engineers and marketing professionals to support its growth and development strategies. This investment reflects a strong confidence in Kiteworks’ innovative approach to securing enterprise data communications and its potential for further expansion.
Kiteworks CEO Jon Denton said, “This funding marks a significant milestone in our journey to redefine how sensitive information is shared securely. We are thrilled to have the backing of Insight Partners and Sixth Street Growth as we continue to innovate and lead in the secure data sharing space.”
Previously, Kiteworks has demonstrated a strong track record of attracting investment, with several funding rounds contributing to its rapid growth and scaling efforts.
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