Funding round
NetSPI Growth
Reported as "Growth Equity"
NetSPI, which works in cybersecurity solutions development in Minneapolis, raised $410M in a Growth round announced on 5 Oct 2022, led by KKR. 2 firms took part, 1 of them already investors. It is NetSPI's second venture round on record; the one before was a Growth in May 2021.
$410M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
NetSPI did not disclose a valuation in this round. It came 17 months after NetSPI's Growth. It is 82% of the $500M NetSPI has raised in the venture rounds on record. No later venture round is on record for NetSPI.
NetSPI's funding rounds
NetSPI has 2 venture rounds on record. This one is highlighted.
- Growth 12 May 2021, led by KKR $90M
- Growth this round 5 Oct 2022, led by KKR $410M
Investors
Who put money in
KKR led the round with 1 other firm. Sunstone Partners had backed NetSPI before.
Lead investor
- KKR backs 104 venture-backed companies new investor
Also in the round
- backs 5 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
385 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 8.2 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Automation Anywhere Tech Companies | 3 Oct 2022 | $200M | not disclosed | not named |
| Tech Companies | 21 Oct 2022 | $200M | not disclosed | not named |
| RapidSOS Tech Companies | 25 Oct 2022 | $75M | not disclosed | NightDragon |
| Tech Companies | 12 Oct 2022 | $66M | not disclosed | Ten Eleven |
| Tech Companies | 18 Oct 2022 | $56M | not disclosed | not named |
| Tech Companies | 12 Oct 2022 | $43M | not disclosed | Jolt Capital |
| Tech Companies | 24 Oct 2022 | $40M | not disclosed | not named |
| Tech Companies | 24 Oct 2022 | $33M | not disclosed | Battery Ventures |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did NetSPI raise in its Growth round?
NetSPI raised $410M in its Growth round, announced in Oct 2022.
Who led NetSPI's Growth round?
KKR led it, with Sunstone Partners.
What was NetSPI's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
385 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $50M, and this round was 8.2 times the median.