Leesburg-based PhishMe has been acquired by a private equity consortium in a deal that valued the company at $400 million. The company changed its name to Cofense.
Founded in 2008 by Rohyt Belani and Aaron Higbee, the company is a leading provider of human-driven phishing defense solutions that promote organization-wide engagement to active email threats.
“PhishMe was founded to challenge the cliché that people are the weakest link in security,” Belani, who serves as CEO, stated in the announcement of the sale. “Our 1700+ enterprise and mid-market customers affirm that not only can their employees be conditioned to be less susceptible to cyber-attacks, but, in fact they can be turned into sensors that provide very timely intelligence.”
With the added backing of private equity firms BlackRock and Pamplona Capital Management, Cofense plans to pursue future innovation via organic and inorganic growth initiatives. The company has enterprise customers in more than 50 countries and across 23 industry verticals.
“This acquisition further strengthens the alignment between our management team, employees, and investors as we focus on building an enduring company,” Belani stated. “With cybersecurity a top priority for organizations everywhere, our goal is to continue bringing innovative products to markets around the globe to help stop active attacks faster than ever.”
The acquisition follows another year of explosive growth for the company, which has reported approximately 80 percent revenue compound annual growth rate over the past four years.
“With our new name and branding, we’re ready to blow things out. The Cofense brand speaks to how we’ve expanded our approach. Cofense delivers collective, complete phishing defense. We’ve been moving in this direction for years, with solutions that accelerate incident response, fueled by employee-sourced phishing-attack intelligence,” CTO Higbee wrote in a blog post on the company’s website this morning. “So, our brand is in line with our vision. Cool. But even better, we’ve got deeper financial backing to make the vision a reality. The strategic vision is growing while financial pressure is shrinking.”