KnowBe4 to Acquire SecurityAdvisor, Introduces a New Information Security Category “Human Detection and Response”
21 October 2021 - 9:00PM
KnowBe4, Inc. (NASDAQ: KNBE), the provider of the world's largest
security awareness training and simulated phishing platform,
announced that they have entered into a material definitive
agreement to acquire SecurityAdvisor for an estimated total
purchase consideration of approximately $80 million, to be paid
through a combination of cash and stock with both upfront and
earnout components. The acquisition is expected to close during the
fourth quarter of 2021, subject to the satisfaction of customary
closing conditions.
The innovative SecurityAdvisor technology utilizes integrations
with over 50 leading vendors in the cybersecurity ecosystem to
identify and correlate human behavior-driven security alerts
generated across each layer of the existing security stack. These
alerts are mapped to relevant micro-learning opportunities that are
pushed out to users via enterprise instant messaging apps, such as
Slack and Microsoft Teams, immediately educating the user. The
future integration of KnowBe4’s existing security awareness
platform with real-time user behavior activity and micro-learning
will be a new milestone in defending against social engineering
attacks. In addition, we believe we will have the ability to feed
this correlated user behavior data back to the Security Operations
Center, enabling security teams to identify and remediate gaps in
the overall cybersecurity architecture and help make customers’
existing investments in security products more valuable.
“We remain committed to strengthening the human defense layer
within security architecture and, with the addition of the
SecurityAdvisor technology to the existing KnowBe4 platform, we
believe we are creating a new category of security called Human
Detection and Response or HDR,” said Stu Sjouwerman, founder and
chief executive officer of KnowBe4. “We see this combination as a
great addition to the existing capabilities of our platform as we
believe it will enable true behavioral change and help build a more
effective and mature security culture much faster. Finally, we view
the addition of SecurityAdvisor to our platform as an accelerator
to our product roadmap.”
“This acquisition is expected to expand our total addressable
market through the addition of HDR functionality to the platform
and will provide immediate enhancements to our R&D teams. This
addition to our cross-sell capabilities will also provide an
opportunity for us to continue to grow with our existing customer
base,” added Krish Venkataraman, KnowBe4’s co-president and chief
financial officer.
Through this acquisition, KnowBe4 will continue to add deeper
insights into human behavior through the correlation of real-world,
real-time human security events by expanding the capabilities of
its security awareness platform across the security stack.
KnowBe4 will host a conference call today, October 21, 2021, to
discuss the Acquisition at 8:30 AM EDT.
Conference Call: (833) 529-0227
(US/Canada Toll Free) or (236) 738-2273Conference
ID: 4379468Webcast:
https://investors.knowbe4.com/investor-relations
A recorded webcast of the event will also be
available shortly after the call and will be made available for one
year on the KnowBe4 Investor Relations website
(https://investors.knowbe4.com). A copy of the slide presentation
to be used during the conference call will be available on the
company’s Investor Relations website and will be filed with the SEC
on Form 8-K.
About KnowBe4KnowBe4 is the leading provider of
“new-school” security awareness training and simulated phishing
platform. Our mission is to enable your employees to make smarter
security decisions, every day. Through our subscription-based
services, your organization will have access to the leading
security awareness training platform.
Investor Relations ContactKnowBe4, Inc.Ken
Talanianir@knowbe4.com
Public Relations ContactKnowBe4, IncKathy
Wattman pr@knowbe4.com
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