In August, Malwarebytes initiated layoffs that affected 125 employees globally.
Malwarebytes is getting a strategic $100 million minority investment from Vector Capital, a private equity firm that invests in established technology businesses.
As part of the transaction, Vector Capital managing directors Sandy Gill and Dave Fishman will join Malwarebytes’ board of directors. The transaction is subject to standard and customary closing conditions, and should close in the fourth quarter of 2022.
Malwarebytes plans to use the investment to further innovate the company’s product portfolios. It will also accelerate momentum with channel partners and consolidate its ownership structure.
It will add new features to its consumer protection and privacy suite. In addition, it will continue to launch new modules that enable organizations to reduce their attack surface.
Moreover, the investment will allow Malwarebytes to enhance and scale its international channel partner program and rapidly growing MSP business.
Last month, Malwarebytes initiated layoffs that affected 125 employees globally as part of a shift in its go-to-market (GTM) strategy.
Vector Capital ‘Ideal Partners’ for Malwarebytes
Marcin Kleczynski is Malwarebytes’ co-founder and CEO.
Malwarebytes’ Marcin Kleczynski
“Vector Capital’s investment is a testament to the transformational work our team has done to evolve our best-in-class endpoint protection to comprehensive offerings for both individuals and organizations, while driving profitable growth,” he said. “We believe Vector Capital’s collaborative approach and proven ability to help build global software businesses make them ideal partners in our ongoing efforts to build a safer digital world.”
The funding by Vector Capital follows investments in Malwarebytes led by Highland Capital Partners and Fidelity Management and Research.
“Malwarebytes is a global market leader with one of the most widely recognized brands in cyber remediation and protection,” Gill said. “It has become an essential business that keeps the internet safer for millions of people and organizations worldwide every day. We look forward to supporting the company by leveraging our strong track record in building and scaling technology companies, and working alongside management to further accelerate growth across both the consumer and corporate business lines.”
