Singapore- and Switzerland-headquartered cybersecurity firm Acronis has raised a $250-million Series E round from institutional investors at a valuation of $3.5 billion, a spokesperson confirmed to DealStreetAsia.
Bloomberg first reported the news, saying one of the investors was US investment manager BlackRock.
Acronis’ last funding round was a $250-million investment by CVC Capital Partners and other investors in 2021, which pegged the company’s valuation at $2.5 billion. By then, the firm had raised a total of $408 million in external funding.
Founded in Singapore in 2003 and then incorporated in Switzerland in 2008, Acronis provides AI-based anti-malware and blockchain-based data authentication technologies to protect cloud, hybrid and on-premise IT environments.
“This investment will help the company extend its product leadership, execute targeted M&As, further build the sales and marketing teams and deliver resources to ensure Acronis’s partners’ continued success,” the spokesperson said about the Series E round.
Acronis had bought several cyber solutions businesses in the past, such as US-based 5nine and Israel-based CyberLynx.
Last year, when the company raised its CVC Capital-backed round, Acronis said it would ramp up hiring new technical talent for its research and development (R&D) centres in Bulgaria, Israel and Singapore, as well as Switzerland and the US.
Earlier this year, the company signed a partnership with Vietnam-based IT firm FPT to nurture tech talents in that country, as well as open a local R&D centre by 2023.
Acronis also added IT solutions provider Tech Titan as a cloud distributor in Malaysia in May.
“APAC is one of the fastest-growing regions, and Acronis continues to intensify its development in this area to help partners expand their cyber protection capabilities,” Neil Morarji, Acronis’ general manager in APAC, said at the Tech Titan announcement. “Just in the last year alone, Acronis’ cloud business in Asia grew by 72% in the number of workloads protected, and by 49% in number of businesses protected,” he added.
Acronis has operations in 19 countries, and its Acronis Cyber Protect solution is available in over 150 countries. The company claims its service is used by over 20,000 service providers to protect over 750,000 businesses.