Hornetsecurity announces strategic growth investment from TA
TA joins existing investors PSG and Verdane in a co-control partnership alongside the Hornetsecurity management team
Pittsburgh, PA (September 6 2022) – Hornetsecurity (the “Company”), a leading international cloud security and compliance SaaS provider, announced today that TA Associates (“TA”), a leading global growth private equity firm, has signed a definitive agreement to make a strategic growth investment in the Company.
TA will join existing investors PSG Equity (“PSG”), a leading growth equity firm partnering with software and technology-enabled services companies, and Verdane, a European specialist growth equity investor named one of the region’s most active software investors, 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, founder & 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 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.
About Hornetsecurity
Hornetsecurity is a leading cloud security and compliance SaaS provider, which protects the IT infrastructure, digital communication and data of companies and organizations of all sizes. The security specialist provides its services worldwide via 11 redundant, secured data centres. Its product portfolio covers all important areas of email security, including spam and virus filters, legally compliant archiving and encryption, defense against CEO fraud and protection against ransomware; backup and recovery; as well as security awareness training. With more than 400 employees, Hornetsecurity operates in more than 30 countries through its international channel partner network and its premium services are used by approximately 50,000 customers. To learn more, visit www.hornetsecurity.com
About PSG Equity
PSG Equity (“PSG”) is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 110 companies and facilitated over 400 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv. To learn more about PSG, visit www.psgequity.com.
About TA
TA Associates (“TA”) is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer, and business services – the firm invests in profitable, growing companies with opportunities for sustained growth and has invested in more than 560 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firm’s more than 110 investment professionals are based in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.
About Verdane
Verdane is a specialist growth equity investment firm that partners with tech-enabled and sustainable European businesses to help them reach the next stage of international growth. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy behind three core themes; the Digital Consumer, Software Everywhere and Sustainable Society. Verdane funds hold over €4 billion in total commitments and have made over 140 investments in fast-growing businesses since 2003. Verdane’s team of over 130 investment professionals and operating experts, based out of Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
More info: www.verdane.com
Follow Verdane on LinkedIn
Contacts
Hornetsecurity
Angelica Micallef Trigona
press@hornetsecurity.com
PSG Equity
Ryan Smith, Prosek Partners
rsmith@prosek.com
+44 785 475 0943
TA
Maggie Benoit
mbenoit@ta.com
+1 617-598-6685
Verdane
Verdane Press Office
Press@verdane.com
+46 76 27 28 100
