KnowBe4, which provides enterprises with an employee cybersecurity training platform, announced terms for its IPO on Monday.
The Clearwater, FL-based company plans to raise $201 million by offering 11.8 million shares (24% insider) at a price range of $16 to $18. At the midpoint of the proposed range, KnowBe4 would command a fully diluted market value of $3.1 billion.
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.
KnowBe4 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. Morgan Stanley, Goldman Sachs, BofA Securities, KKR, Citi and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of April 19, 2021.
