Cybersecurity firm NetSPI snags $410m from KKR

The transaction will close by the end of 2022.

  • Goodwin Procter LLP advised NetSPI on the transaction while Latham & Watkins LLP advised KKR
  • KKR made an initial investment in May 2021
  • The capital infusion will support NetSPI’s continued technology development, talent acquisition, and global expansion, as well as recapitalizing NetSPI’s first institutional investor Sunstone Partners

KKR has invested $410 million in NetSPI, a Minneapolis-based provider of enterprise penetration testing and attack surface management solutions.

KKR made an initial investment in May 2021

The capital infusion will support NetSPI’s continued technology development, talent acquisition, and global expansion, as well as recapitalizing NetSPI’s first institutional investor Sunstone Partners.

“We are excited to double down on our investment in NetSPI to help build a differentiated leader in offensive cyber security,” said Jake Heller, a partner and head of KKR’s technology growth team in the Americas, in a statement. “We have been very impressed by the performance of the company and the exceptional execution by Aaron and his team over the past 18 months. We believe this is just the beginning of what we can accomplish together.”

This investment follows NetSPI’s most recent $90 million funding round from KKR and cybersecurity specialist investor Ten Eleven Ventures and comes from KKR’s Technology Growth strategy, which is dedicated to growth equity investment opportunities in leading high-growth technology companies in North America, Europe and Israel.

The transaction will close by the end of 2022. Goodwin Procter LLP advised NetSPI on the transaction and Latham & Watkins LLP advised KKR.