Acronis, a Singapore- and Switzerland-headquartered cybersecurity company that solves safety, accessibility, privacy, authenticity, and security challenges, has secured $250 million in equity funding from CVC Capital Partners, a global private equity advisory firm, which boosts the company’s valuation to $2.5 billion.

In an interview with DealStreetAsia, Stanislav Prtoassov, Co-Founder, President, and Chief Operating Officer of the company, said that the data protection firm plans to use the equity funding to invest in manpower, increase the number of partners and service providers, and expand the features on its platform.

In a media release, CVC Capital Partners senior managing director Leif Lindbäck expounds on the firm’s investment: “Acronis’ talented management and R&D teams have invested significant resources developing an innovative cloud-native ‘MSP in a box’ solution, with integrated backup, disaster recovery, cybersecurity, remote management, and workflow tools. Acronis provides mission-critical solutions to more than 10,000 MSPs and half a million small and medium businesses. CVC has a strong track record in cybersecurity and partnering up with successful entrepreneurs, and we are looking forward to teaming up with Serguei Beloussov and the Acronis team to accelerate the company’s growth.”

Acronis was founded in Singapore in 2003 and incorporated in Switzerland in 2008. It was founded by Serguei Beloussov, Stanislav Protassov, and Yakov Zubarev. The company is a cybersecurity vendor that concentrates mainly on providing “all-in-one” services that would tackle most aspects of cybersecurity.

With this investment, the company has now raised a total of $408 million in external funding. Its last venture round in September 2019 amounted to $147 million led by Goldman Sachs. The business is profitable with roughly 10,000 managed service providers and 500,000 businesses among its clients.

With the company’s newer products like Acronis Cyber Protect growing 100% amidst the coronavirus pandemic, Beloussov said, “We didn’t need the money, but now we will invest it to grow faster and capitalize on our leadership.” He added, “We are spending the money on engineers and M&A to complement our cyber protection. We have a single mission, which is to protect all data applications, providing privacy and security in one package. We protect about 10 million workloads today and we are aiming to grow that to 100x. There is a lot to do in terms of making that protection easier and deeper for our customers.”

Acronis plans to boost the manpower in engineering, sales, and technical support teams. Currently, the company has 1,600 employees worldwide, with roughly 1,000 of them in technical roles. It plans to double the number of technical employees in Bulgaria, Israel, Singapore, Switzerland, and Arizona within the next 2 to 3 years.

The company also plans to open more data centers across the globe. Its target is to increase the number of data centers from its current 39 to at least one data center in 100 countries by the end of 2022.

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