Insight Partners Acquires Recorded Future for $780 Million
BOSTON, May 30, 2019 /PRNewswire/ -- Recorded Future, the leading threat intelligence company, today announced that Insight Partners has agreed to acquire a controlling interest in the company, in addition to the minority stake in the company previously owned by Insight. The all-cash transaction values Recorded Future at more than $780 million and will accelerate the next phase of the company's global growth and expansion. Recorded Future will leverage Insight's deep experience and internal consulting arm, Insight Onsite, to further its technical and product vision through a range of growth-oriented activities.
Today, Recorded Future is the largest privately-held threat intelligence software company in the world, with more than 400 clients and adding hundreds of new clients every year across all geographies and sectors onto its unique SaaS platform. Recorded Future has seen tremendous organic growth over the last 10 years as the threat intelligence market has continued to expand rapidly, with a direct impact on adjacent categories such as Security Operations, Vulnerability Management and Third-Party Risk.
Globally, organizations of all sizes invest billions of dollars annually to enable effective security controls and operations in these areas, and Recorded Future is uniquely positioned to capitalize on an array of opportunities. Recorded Future empowers its clients through the supplying and consumption of its intelligence at a near-equal rate across its web-based browser portal for human-based analysis, and its API for machine-based enrichment and action in its security workflows.
Christopher Ahlberg, co-founder and CEO of Recorded Future said, "My leadership team and I have had the privilege to work with Mike Triplett and the Insight team for a number of years, benefiting from their sage advice, industry knowledge, and relationships. This transaction is the logical next step for Recorded Future given the opportunities in front of us, as we fully realize the potential and vision of our strategy."
"This evolution of our relationship will allow Recorded Future to better serve its current and future clients as we tap into the full potential of our technical roadmap and position our software to truly answer some of the most difficult and unique intelligence challenges faced by our community," said Ahlberg.
Mike Triplett, managing director at Insight, said, "Insight's renewed investment is a testament to the vision and direction laid out by Recorded Future's leadership team. They envision a world where everyone applies intelligence at speed and scale to reduce risk, remaining hyper-focused on providing clients with the threat intelligence necessary to understand their environments, manage risk, and combat malicious actors through contemporary awareness gained from the implementation of a threat intelligence-led security strategy. We are thrilled to partner with Recorded Future on this next stage of growth and look forward to what's to come."
According to Ahlberg, "This is a truly exciting time for the Recorded Future family of employees, clients, and partners. I am particularly grateful to the exceptional women and men who have worked tirelessly and with so much self-sacrifice for many years to build the amazing company and solution that we have today. The renewed investment in Recorded Future by Insight validates our hard work. This partnership lays the foundation to take our products and software to the next level to best serve our clients, changing the face of our industry as we drive an intelligence-led strategy to help reduce risk and enable business operations for clients around the globe. The best is still to come for our company and our clients, and it is going to be an awesome ride as we build upon our joint successes!"
"As a market leader, Recorded Future provides its services to the greatest number of large enterprises of any industry competitor, offering the best customer care and highest Net Promoter Score," said Insight Vice President Thomas Krane. "By doubling down on this long-term partnership, Insight looks forward to continuing our work in a high-growth market with this strong team of leaders — an asset that is core to our DNA at Insight."
Pursuant to the terms of this investment, Insight's Mike Triplett and Thomas Krane will join Recorded Future's board of directors.
Chris Pasko and Ivan Brockman of PJT Partners served as advisors for Recorded Future.
John Patterson and Alexander Aber of Foley Hoag LLP provided legal counsel to Recorded Future. Willkie Farr & Gallagher LLP provided legal counsel to Insight Partners.
For more information, visit www.recordedfuture.com.
About Recorded Future
Recorded Future delivers the only complete threat intelligence solution powered by patented machine learning to lower risk. We empower organizations to reveal unknown threats before they impact business, and enable teams to respond to alerts 10 times faster. To supercharge the efforts of security teams, our technology automatically collects and analyzes intelligence from technical, open web, and dark web sources and aggregates customer-proprietary data. Recorded Future delivers more context than threat feeds, updates in real time so intelligence stays relevant, and centralizes information ready for human analysis, collaboration, and integration with security technologies. Learn more at www.recordedfuture.com and follow us on Twitter at @RecordedFuture.
About Insight Partners
Insight Partners is a leading global capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight currently has over $20 billion of assets under management and has cumulatively invested in more than 300 companies worldwide. Our mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Across our people and our portfolio, we encourage a culture around a core belief: growth equals opportunity. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.