INSUBCONTINENT EXCLUSIVE:
Cyber security solutions provider Acronis announced today that it has raised $147 million in funding led by Goldman Sachs, bringing it to
The company did not disclose its valuation, but founder and CEO Serguei Beloussov told TechCrunch that it is between $1 billion and $2
billion.Founded in Singapore as a data backup and recovery company in 2003 and now headquartered in Switzerland, Acronis currently has more
than 1,400 employees in 18 countries
Its cyber protection technology is used by 5 million consumers and 500,000 businesses.Beloussov says this is the first time the company has
In 2004, Acronis sold part of its business to an outside firm in a secondary transaction for $11 million
Since then it has been profitable, but it is now aiming for very rapid growth, targeting $1 billion in revenue by 2022
The company wants to take advantage of increasing demand for cybersecurity solutions by expanding its research and development teams and
making several acquisitions in the cybersecurity space.In a statement, Holger Staude, the vice president of Goldman Sachs Growth, said “We
are excited to invest in Acronis at this stage of rapid growth
The traditional backup and data protection market is being disrupted by Acronis Cyber Protection, an innovative solution delivered
efficiently through a vast channel of service providers.”Acronis’ products include Cyber Protection to safeguard data, a platform that
allows third-party developers to integrate Acronis’ technology into their own applications and Cyber Cloud, which enables enterprise IT to
deliver Acronis’ cyber protection services to end customers
It plans to grow its product roster by acquiring companies that protect applications it doesn’t already support
Beloussov says that the company will also add long-term protection for applications and data and integrate more data destinations.“We are
growing because we have completely changed the company strategy from being a data protection company to a cyber protection company, from
data protection applications to being a cyber protection platform, and being a data protection provider to building a cyber protection
infrastructure,” says Beloussov, adding that demand is being driven by three trends.The first is the increasing adoption of edge computing
and end point computing, which means more devices outside of data centers need to be protected
The second is the increasing sophistication of cyber crime
Companies need to protect themselves against attacks, but also be prepared to perform recovery and forensics when they happen
The third is the cost of protecting large amounts of data, meaning providers who are able to offer the lowest pricing gain an
advantage.Beloussov says Acronis differentiates from other data backup and security companies, like Veeam or Carbonite, by providing a
comprehensive solution that addresses what Acronis refers to as the “Five Sectors of Cyber Protection”: safety, accessibility, privacy,
authenticity and security of data
By being able to rely on one provider for more of their cybersecurity needs, companies can save money
Acronis also has a flexible business model, allowing customers to combine its products in a way that saves on costs, Beloussov adds.“We
have very aggressive plans and hope to provide cyber protection for as many workloads, customers and people as possible,” Beloussov says.
