Cloud Backup, Cybersecurity and Cyber Resilience Valuations: Acronis Still Rising
Acronis has raised $250 million at a valuation of more than $3.5 billion. The new Acronis funding suggests the MSP-friendly cloud backup and disaster recovery (BDR), cybersecurity and cyber resilience company has increased its valuation by roughly $1 billion since around May 2021.
Black Rock participated in the latest Acronis funding round, Bloomberg reported. We checked to see if previous investors such as CVC Capital Partners and Goldman Sachs participated in the round and/or maintained their stakes in the increasingly cloud-centric software company. The Acronis response to our inquiry included:
- Regarding the name of the two additional investors in the new round, Acronis declined to disclose their names but confirmed that one is an existing institutional investor, and the other is a new institutional investor.
- As for the cap table, Acronis has an extensive list of shareholders, most of them very small (former employees and such) – and none owns more than 20% of the company.
Acronis previously raised $250 million or so from CVC in May 2021, and $147 million led by Goldman Sachs in September 2019. That 2019 funding accelerated an Acronis expansion strategy from backup, disaster recovery (BDR) and data protection to cyber protection.
Acronis Backup Business Evolution, Acquisition History
Former Acronis CEO Serguei Beloussov described the software business transformation in this October 2020 ChannelE2E interview. The CEO role transitioned to GoDaddy veteran Patrick Pulvermueller in July 2021, and integrations with various MSP software platforms have accelerated since that time.
Acronis has been growing both organically and via M&A. Noteworthy acquisitions include:
- March 2021: Synapsys, a long-time partner and specialty distributor with business units that support resellers, VARs and MSPs in South Africa.
- November 2020: CyberLynx for security audits, penetration testing & proprietary training solutions.
- July 2020: DeviceLock for data loss prevention (DLP) software.
- December 2019: 5nine for Microsoft Hyper-V & Azure cloud management & security.
Acronis, founded in Singapore in 2003 and incorporated in Switzerland in 2008, has 2,026 employees listed on LinkedIn as of July 2022.
Acronis MSP Conference
So what’s next? It sounds like Acronis is exploring potential acquisitions. And the company will surely offer a product and partner roadmap during Acronis CyberFit Summit 2022 in November.