Malwarebytes Gets $100M Weeks After Laying Off 14% of Staff
Private equity firm Vector Capital invested $100 million in Malwarebytes a month after the antivirus stalwart laid off 125 employees to focus on smaller customers.
The Silicon Valley-based company plans to use the minority investment to help businesses reduce their attack surface, accelerate momentum with channel partners and consolidate Malwarebytes' ownership structure. Wednesday's investment marks the first outside funding Malwarebytes has taken since nearly seven years ago, when the firm closed a $50 million Series B round led by Fidelity, according to Crunchbase.
"Vector brings significant industry and go-to-market execution expertise, deep operating capabilities, and proven success helping technology companies drive growth and profitability," Marcin Kleczynski, co-founder and CEO of Malwarebytes, tells Information Security Media Group in an email. "Vector is fundamentally aligned with our strategy, sees our potential for future growth and is dedicated to helping us accelerate that progress." Vector has a small but growing cybersecurity portfolio. The firm bought out joint investor Francisco Partners in July to become the majority owner of SMB-focused WatchGuard Technologies in a deal reportedly valuing the company at $1.5 billion. Vector also invested $50 million in Kela Group in April 2018 for a 25% stake in the Israeli threat intelligence vendor.
