Acronis has raised $250 million at a valuation of over $3.5 billion. The new funding from Acronis suggests that the MSP-enabled backup and disaster recovery (BDR), cybersecurity and cyber-resilience company has increased its valuation by around $1 billion since around May 2021.
Black Rock participated in Acronis’ latest funding round, Bloomberg reported. We checked whether former investors such as CVC Capital Partners and Goldman Sachs participated in the round and/or maintained their stakes in the increasingly cloud-centric software company. Acronis’ response to our survey included:
- For this round, one of the investors is an existing institutional investor, the other is a new institutional investor, and neither is Russian. The names of specific investors were not disclosed.
- Regarding the cap table, Acronis has “a long list of shareholders, most of them very small (former employees and others)”; none of our major shareholders are Russian; and none holds more than 20% of the company.
Acronis previously raised approximately $250 million from CVC in May 2021 and $147 million led by Goldman Sachs in September 2019. This 2019 funding accelerated an Acronis expansion strategy ranging from backup, recovery disaster recovery (BDR) and from data protection to cyber protection.
Evolution of Acronis Backup’s business, history of acquisitions
Former Acronis CEO Sergei Beloussov described the transformation of the software business in this October 2020 ChannelE2E interview. The role of CEO passed to GoDaddy veteran Patrick Pulvermueller in July 2021, and integrations with various MSP software platforms have accelerated since then.
Acronis has grown both organically and through mergers and acquisitions. Notable acquisitions include:
- March 2021: Synapsys, a long-time partner and specialist distributor with business units supporting resellers, VARs and MSPs in South Africa.
- November 2020: CyberLynx for security audits, penetration testing and proprietary training solutions.
- July 2020: DeviceLock for Data Loss Prevention (DLP) software.
- December 2019: 5nine for Microsoft Hyper-V and Azure cloud management and security.
Acronis, founded in Singapore in 2003 and incorporated in Switzerland in 2008, has 2,026 employees listed on LinkedIn as of July 2022.
Acronis MSP Conference
So what’s the next step? It appears that Acronis is exploring potential acquisitions. And the company will surely come up with a product and partner roadmap at the Acronis CyberFit 2022 Summit in November.