US-based cybersecurity software firm Semperis has raised over $200 million in a VC funding round led by private equity firm KKR.
Existing investors including Insight Partners and new investors such as Ten Eleven Ventures joined KKR in the round.
The Hoboken, New Jersey-based identity security company has achieved robust growth as enterprises invest in security solutions that could better protect them in a remote working environment.
“We are focusing on identity-driven cyber resilience and threat mitigation because in this new reality where companies are working remotely and accessing applications and assets in the cloud, putting everything behind a firewall no longer offers the same degree of protection,” said Semperis CEO Mickey Bresman.
Founded in 2014, Semperis provides identity security solutions for hybrid Active Directory users, with a focus on Microsoft’s Active Directory – a directory service widely used by Fortune 500 companies across industries.
Semperis reported $11.6 million in revenue in 2020 and told Reuters its revenue has more than doubled year-over-year.
Semperis said it plans to use the funding to grow its research-and-development team across the United States, Canada and Israel, and grow its customer base in Europe and Asia.
It also said it plans to expand beyond identity protection into protecting a customer’s entire cloud data.
KKR is investing through its Next Generation Technology Growth Fund II, which raised $2.2 billion from investors in January 2020.
KKR’s portfolio includes artificial intelligence firm Darktrace and digital identity management company ForgeRock, both of which went public last year.