Another big-name backer for Hornetsecurity as TA Associates invests in business | AltAssets Private Equity News
Summary
Cloud security and compliance software-as-a-service specialist Hornetsecurity has picked up another big name backer with TA Associates coming in as an investor. Click to sign up to AltAssets’ free daily PE newsletter Since PSG’s investment the business has bolted-on three acquisitions, adding cloud back-up solutions and security awareness training to its capabilities. A statement from TA managing director Morgan Siegler and principal Stefan Dandl said, “Hornetsecurity has continually demonstrated its ability to innovate and identify solutions that meet the evolving cyber security and compliance needs of its customers. Looking ahead, we believe there is ample opportunity for the company to further strengthen its product portfolio and grow its footprint, both organically and through strategic acquisitions.” The deal is expected to close in the fourth quarter. Other recent private equity activity in the cybersecurity space includes KKR leading a $200m funding round in identity security business Semperis in May.
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