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Cybersecurity training platform KnowBe4 files for a $100 million IPO

March 19, 2021

KnowBe4, which provides enterprises with an employee cybersecurity training platform, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

KnowBe4 states that it has developed the leading security awareness platform enabling organizations to assess, monitor, and minimize the ongoing cybersecurity threat of social engineering attacks. Its platform currently includes Security Awareness, Security Orchestration, Automation and Response (SOAR), and Governance, Risk and Compliance. The company has grown its customer base from more than 22,500 as of December 31, 2018, to almost 37,000 as of December 31, 2020.

The Clearwater, FL-based company was founded in 2010 and booked $175 million in revenue for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol KNBE. KnowBe4 filed confidentially on December 10, 2020. Morgan Stanley, Goldman Sachs, BofA Securities, KKR, Citi and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.