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Investors Pump $90 Million Into Pentesting Firm NetSPI

Private equity giant KKR leads investment to fuel growth of enterprise penetration testing firm

NetSPI, a provider of enterprise penetration tools and services, has raised $90 million in growth funding led by private equity giant KKR, with participation from Ten Eleven Ventures. 

NetSPI offers a cloud-based delivery model that allows customers to perform always-on continuous testing to monitor their attack surface and execute attack scenarios based on real-world attacker tactics, either as a single attack technique or a full attack chain using one pre-built playbooks.

NetSPI LogoThe Minneapolis-based company says the funding will be used to expand its employee base, support product innovation, and fuel global growth.

“Our clients rely on us to help secure their ever-evolving attack surface by leveraging our expertise in cloud, red team, application, and network security,” said NetSPI President and Chief Executive Officer Aaron Shilts. 

“With our investors’ support, NetSPIwill continue to transform the industry with a focus on attack surface management, enterprise security testing, and vulnerability management, ” he added.

In December 2020, NetSPI announced its acquisition of Silent Break Security, a Utah-based security testing firm that specialized in network and application testing, red teaming, and adversary simulation. Terms of that deal were not disclosed.

KKR’s investment in NetSPI was through its Next Generation Technology Growth Fund II. 

“Aaron and his team have a deep appreciation for the needs of their customers and the increasing demand for best-in-class, tech-enabled cyber security systems,” said Jake Heller, Head of KKR’s Technology Growth team in the Americas.

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