Stu Sjouwerman on What Vista Equity's Buy Means for KnowBe4CEO on How Going Private Will Accelerate KnowBe4's Journey From $300M to $1B in ARR
Vista Equity Partners' specialization in enterprise software and deep bench of subject-matter experts should help KnowBe4 reach $1 billion in ARR, says CEO Stu Sjouwerman.
The processes and technology stack that got KnowBe4 to more than $300 million in annual recurring revenue today aren't necessarily the ones that'll get the Tampa, Florida-area security awareness training vendor to a figure more than triple that amount. Consequently, Sjouwerman wanted to team up with a firm like Vista that has vast experience in helping its portfolio companies surpass the $1 billion ARR milestone (see: KnowBe4 Agrees to Vista Equity's $4.6B Take-Private Deal).
"As a public company, we didn't get credit for the very high-quality stock that we really are," Sjouwerman says. "And so we saw our stock price go up and down, and we didn't necessarily feel we had much control over that. For us at our stage, where we are still growing very rapidly, we felt going private was actually the better choice."
In this video interview with Information Security Media Group, Sjouwerman also discusses:
- How KnowBe4 has capitalized on its MediaPro and SecurityAdvisor purchases;
- The benefits of integrating KnowBe4's SecurityCoach offering with Netskope;
- What sets KnowBe4 apart from Proofpoint and Mimecast in the training space.
Realizing that the human element of security was being seriously neglected, Sjouwerman in 2010 decided to help organizations address cybercrime social engineering tactics through new-school security awareness training and founded KnowBe4. A serial entrepreneur and data security expert with more than 30 years in the IT industry, Sjouwerman previously co-founded Inc. 500 company Sunbelt Software, an anti-malware software vendor that was acquired in 2010. Along with his CEO duties, Sjouwerman is currently editor-in-chief of Cyberheist News, an e-zine tailored to deliver IT security news, technical updates and social engineering alerts to IT professionals.