October 25, 2017 / 1:13 PM / a month ago

Skybox Security raises $150 mln in funding led by CVC

JERUSALEM, Oct 25 (Reuters) - U.S.-Israeli cybersecurity management firm Skybox Security said on Wednesday it signed an agreement to receive a $150 million investment led by CVC Capital Partners’ Growth Fund.

CVC will invest $100 million in Skybox, while private equity firm Pantheon will add another $50 million.

The funding round will go towards accelerating investment in sales and marketing, customer care and research and development. It will also be used for potential mergers and acquisitions, to capitalize on a $10 billion market opportunity in cybersecurity management, Skybox said.

Skybox builds cybersecurity management software, which uses analytics to prioritize an organization’s risk exposures and recommend action to address those exposures.

The company said it has a compound annual growth rate (CAGR) of 46 percent and positive cash flow between 2014 and 2016.

In the first half of 2017, Skybox posted a 62 percent increase in sales, it said. (Reporting by Steven Scheer)

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