Security Experts:

Acronis Worth Over $1 Billion After Raising $147 Million

Acronis on Wednesday announced that it raised $147 million. With this funding round, led by Goldman Sachs, Acronis becomes a unicorn company with a valuation exceeding $1 billion.

Acronis, which previously only raised $11 million, says it will use the newly obtained funds to expand its engineering team in Singapore, Bulgaria and the United States, build more data centers, and expand through acquisitions.

Acronis was founded in 2003 in Singapore and incorporated in 2008 in Switzerland. The company provides backup, storage management, data protection, secure file sharing, and disaster recovery solutions, which it claims are used by over 5 million consumers and half a million businesses, including a majority of Fortune 1000 firms.

“We are excited about Goldman Sachs‘ investment,” said Serguei Beloussov, founder and CEO of Acronis. “In 2018, Acronis achieved 20% business growth, and in 2019 it is on track for over 30% growth with the Acronis Cyber Cloud business growing by over 100%. Recently we announced the Acronis Cyber Platform, enabling third-parties to customize, extend, and integrate our cyber protection solutions to the needs of their customers and partners. The investment round led by Goldman Sachs will help us to fast-track the product development through acquisitions of companies and additional resources, and accelerate the growth.”

Related: Guardicore Raises $60 Million in Series C Funding

Related: HackerOne Raises $36.4 Million in Series D Funding Round

Related: Trinity Cyber Secures $23 Million in Funding

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.