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Austin, TX and Boston, MA – October 20, 2021 at 8:30am EDT – Invicti SecurityTM, a world chief in utility safety testing, at present introduced that it has signed a definitive settlement for a $625 million funding led by international progress fairness investor Summit Companions. The brand new financing will assist Invicti’s continued progress and product improvement initiatives. Summit will be part of forces with Flip/River Capital, which first invested in Invicti in 2017 and can stay a major shareholder going ahead.
Invicti goals to deal with a crucial want amongst enterprises and public sector organizations: to safe lots of and even hundreds of internet functions with constrained groups. With its Acunetix and Netsparker product strains, the corporate’s software program is designed to allow organizations to scan their total internet footprint for vulnerabilities and facilitate remediation via integration into developer workflows. Invicti’s options are acknowledged for his or her industry-leading accuracy, scalability to the whole internet assault floor, and automation that considerably reduces the necessity for guide work by safety and improvement groups.
“We’re completely thrilled to welcome Summit for this subsequent chapter in our firm’s progress,” mentioned Invicti founder and CEO Ferruh Mavituna. “We’re assured that Summit’s intensive safety expertise will assist speed up our product innovation, broaden our attain and handle the pressing drawback of internet utility safety confronted by organizations around the globe.”
“Software program improvement cycles have shortened dramatically during the last decade, opening new vulnerabilities each time an internet utility is launched or up to date. Invicti is working to satisfy this problem head on with elegant and seamless options designed to deliver scale, automation, velocity and accuracy to assist organizations safe their internet assault floor,” commented Scott Collins, Managing Director and COO of Summit Companions, who will be part of the corporate’s Board of Administrators. “The corporate has earned a market-leading repute – and we’re delighted to companion with the Invicti crew and Flip/River to assist gas the subsequent stage of the corporate’s fast progress.”
This funding comes throughout a interval of serious progress for Invicti. The corporate has added 700 new clients within the final twelve months and is on observe to develop annual recurring revenues (ARR) by greater than 60% in 2021. Invicti at present serves greater than 3,100 clients worldwide and has scanned greater than 800,000 web sites up to now. Invicti was included within the 2021 Gartner Magic Quadrant for Software Safety Testing, acknowledged by G2 as a Momentum Chief for its Acunetix and Netsparker merchandise, and obtained a 2021 Globee Award for Cyber Safety World Excellence.
Joanne Yuan, Companion at Flip/River Capital, added, “We’re proud to have supported Invicti and its crew since 2017 via an incredible progress journey amid hovering enterprise demand for full utility safety protection. We’re excited to reinvest into this partnership alongside Summit, reaffirm our conviction within the alternative forward and assist to additional speed up the corporate’s progress.
Particulars of the transaction haven’t been disclosed. The transaction is anticipated to shut throughout the fourth quarter, topic to plain closing situations. Summit Companions was suggested by Kirkland & Ellis and Ernst & Younger. Flip/River and Invicti have been suggested by William Blair, Orrick and PwC.
About Invicti Safety
Invicti Safety is altering the best way internet functions are secured. A world chief in internet utility safety for greater than 15 years, Invicti gives dynamic and interactive utility safety merchandise to assist organizations in each {industry} scale their general safety operations, make the perfect use of their safety sources, and interact builders to enhance their general safety posture. Invicti’s product Netsparker delivers industry-leading enterprise internet utility safety, whereas Acunetix is designed for small and medium-sized firms. Invicti is headquartered in Austin, Texas and serves organizations everywhere in the world.
About Summit PartnersFounded in 1984, Summit Companions is a world various funding agency that’s at present managing greater than $42 billion in capital devoted to progress fairness, mounted earnings and public fairness alternatives. Summit invests throughout progress sectors of the financial system and has invested in additional than 550 firms in expertise, healthcare and different progress industries. These firms have accomplished greater than 175 public fairness choices, and greater than 200 have been acquired via strategic mergers and gross sales. Notable safety software program firms backed by Summit embrace Avast, Cloudmark, Darktrace, Delphix, Jamf, McAfee, Netwitness, NinjaRMM, RedCanary, RiskIQ, Safeboot and Winshuttle. Summit maintains workplaces in North America and Europe and invests in firms around the globe. For extra data, please go to www.summitpartners.com or comply with on LinkedIn.
About Flip/River Capital
Flip/River Capital is a San Francisco-based software program funding agency that appears, feels, and acts like a software program firm. It gives versatile capital and tailor-made, data-driven operational assist for progress capital, founder liquidity, buyouts, spin-outs and recapitalizations. Constructed by a crew of software program operators and traders who’ve scaled gross sales, advertising, buyer success and expertise, Flip/River’s playbooks reliably and quickly unlock transformational progress, producing market-leading firms and constructing lasting worth. For extra data, please go to www.turnriver.com.
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