Skybox closes $150m funding round

Security vendor sets sights on M&A activity

Security analytics vendor Skybox Security has raised $150m (£113m) in funding as it eyes up potential acquisitions.

The funding round, led by CVC Capital Partners, takes the vendor's total funding to around $280m.

Skybox targets customers at the high end of the market, with its customers including six of the top 10 global banks and 10 global telecoms firms.

The vendor is served globally by distributor Arrow and partners with Verizon, BT and Dimension Data.

Skybox CEO Gidi Cohen said: "Everyone is either embarking on or going through massive digital transformation and this means new challenges for security because the attack surface of these organisations is growing more complex.

"We have been consistently evolving our technology to meet those challenges.

"With this investment we will accelerate that innovation, focusing on some of the most critical areas, such as security management for the cloud and the OT (operational technology) networks that control critical infrastructure."

Skybox's software uses analytics to prioritise risk for enterprises and recommend the best ways to mitigate these risks. Solutions include firewall auditing, threat management and network security.

Based in Silicon Valley, Skybox has a compound annual growth rate of 46 per cent.

Skybox did not provide further details on the areas in which it may look to acquire, but said the funding will also be used to invest in sales and marketing and R&D.