KKR Mints a New Cybersecurity Unicorn

Three months after announcing an initial $50 million investment in the company, private equity giant KKR is leading an additional $300 million in funding for cybersecurity firm KnowBe4, in a deal that values the startup at $1 billion.

The transaction sees KKR follow through on previous plans for an additional round of investment in KnowBe4, and takes the private equity firm’s total commitment to the Tampa Bay, Fla.-based startup to around $350 million. KKR is joined in the deal by frequent venture capital collaborator TenEleven Ventures as well as existing KnowBe4 investor Elephant.

As with its initial round of funding in KnowBe4, KKR is making its investment through its $711 million Next Generation Technology Growth Fund, which targets the software, security, digital media and information technology sectors.

KnowBe4 fits nicely within that investment niche. Founded in 2010, the company operates a platform of cybersecurity offerings based on security awareness training designed to

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