Hornetsecurity Continues Growth, Seeks International Expansion

MSP TODAY NEWS

Hornetsecurity Continues Growth, Seeks International Expansion

By Greg Tavarez

The majority of Hornetsecurity's customers are served through a channel partner community of more than 8,000 VARs, MSPs and MSSPs. The company's products, which include email security, backup solutions and archiving and continuity services, are designed to protect more than 2 million users against the latest sophisticated cyber threats.

Since 2020, the company completed three acquisitions to expand its cloud cybersecurity offering, such as adding cloud back-up solutions from Altaro and security awareness training from IT-Seal. Further boosting Hornetsecurity’s funding, growth private equity firm TA signed a definitive agreement to make a strategic growth investment in the cloud security and compliance SaaS provider.

The new round of investment will further support Hornetsecurity’s product build-out and international expansion strategy through continued organic growth acceleration and M&A.

”Hornetsecurity continually demonstrated its ability to innovate and identify solutions that meet the evolving cybersecurity and compliance needs of its customers,” said Morgan Seigler, managing director, and Stefan Dandl, principal, at TA. “We believe there is ample opportunity for the company to further strengthen its product portfolio and grow its footprint.”

TA has invested in more than 560 companies worldwide and raised $47.5 billion in capital since its founding in 1968. It will join existing investors PSG, a growth equity firm partnering with software and technology-enabled services companies; and Verdane, a European specialist growth equity investor, as well as the Hornetsecurity’s management team. Verdane invested in Hornetsecurity in 2016, and PSG made its investment in 2020.

“We are excited to welcome TA as a new investor and to continue our partnership with PSG and Verdane as we invest further in our growth and product innovation,” said Daniel Hofmann, founder and CEO of Hornetsecurity. “We will work to deliver even greater value to our customers, partners, employees and the communities in which we do business.”




Edited by Erik Linask

MSPToday Editor

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