New strategic growth investment in Hornetsecurity
Hornetsecurity announced that TA Associates has signed a definitive agreement to make a strategic growth investment in the Company.
TA will join existing investors PSG Equity and Verdane, as well as the Company’s management team.
Hornetsecurity provides a range of products which are rated among the best-in-class that are designed to protect more than two million users against the latest and most sophisticated cyber threats. The Company’s product portfolio includes email security, backup solutions, and archiving and continuity services, as well as security awareness training. Its flagship offering, the 365 Total Protection Suite, is specially developed for Microsoft 365 and can be seamlessly integrated into businesses’ existing Microsoft 365 environment.
Hornetsecurity serves customers across a range of sizes and industries, with differentiated product offerings tailored to a range of security needs. The majority of customers are served through a trusted channel partner community of more than 8,000 value-added resellers (VARs), managed service providers (MSPs) and managed security service providers (MSSPs).
“Over the last two years, our partnership with PSG and Verdane has enabled us to execute on our strategic goal of providing all organizations with comprehensive cloud security and compliance solutions. We are excited to welcome TA as a new investor, and to continue our partnership with PSG and Verdane, as we invest further in our growth and product innovation. Together, we will work to deliver even greater value to our customers, partners, employees and the communities in which we do business,” said Daniel Hofmann, CEO of Hornetsecurity.
Verdane invested in Hornetsecurity in 2016, and PSG made its investment in 2020. Since 2020, the Company has completed three acquisitions to expand its cloud cyber security offering, adding cloud back-up solutions and security awareness training. This new round of investment aims to further support Hornetsecurity’s product build-out and international expansion strategy through continued organic growth acceleration and M&A.
”Hornetsecurity has continually demonstrated its ability to innovate and identify solutions that meet the evolving cyber security and compliance needs of its customers. Looking ahead, we believe there is ample opportunity for the Company to further strengthen its product portfolio and grow its footprint, both organically and through strategic acquisitions. We look forward to partnering with Hornetsecurity’s proven management team, led by Daniel Hofmann, PSG and Verdane in support of the Company’s growth journey,” said Morgan Seigler, Managing Director, and Stefan Dandl, Principal, at TA.
“The Hornetsecurity management team has done an incredible job scaling the Company’s solution suite into a comprehensive cloud security and compliance offering. We warmly welcome TA into our existing partnership with Verdane and are excited to jointly back Daniel Hofmann, Daniel Blank (COO) and the entire Hornetsecurity team in their pursuit of the Company’s next phase of growth to create a leading international cloud security and compliance software champion,” said Dany Rammal, Managing Director and Head of PSG in Europe, and Christian Stein, Managing Director.
“We are excited to welcome TA Associates as an equal partner on our journey to support the Hornetsecurity team in building the world’s leading cloud security and compliance SaaS provider. Since our investment in 2016, Daniel Hofmann and the entire Hornetsecurity team have built a cyber security powerhouse that continues to set new standards for cloud security. We look forward to continuing on that journey in close collaboration with TA, our existing partner PSG and the entire Hornetsecurity team,” said Emanuel Johnsson, Partner, and Hendrik Wildhagen, Director at Verdane.
The transaction is expected to close in the fourth quarter of 2022, pending customary regulatory approval. Financial terms of the transaction were not disclosed.
TA is represented by Latham & Watkins, and PSG and Verdane are represented by Hengeler Mueller. Raymond James is serving as exclusive financial advisor to Hornetsecurity.