In August, Malwarebytes made layoffs that affected 125 employees worldwide.
Malwarebytes gets a $100 million strategic minority investment from Vector Capital, private equity firm that invests in established technology companies.
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 is expected to close in the fourth quarter of 2022.
Malwarebytes plans to use this investment to further innovate the company’s product portfolios. It will also accelerate momentum with distribution partners and consolidate its ownership structure.
It will add new features to its consumer protection and privacy suite. Additionally, it will continue to release new modules that allow organizations to reduce their attack surface.
Additionally, the investment will allow Malwarebytes to enhance and scale its international channel partner program and growing MSP business.
Last month, Malwarebytes launched layoffs that affected 125 employees globally as part of a change in its go-to-market (GTM) strategy.
Vector Capital ‘Ideal Partners’ for Malwarebytes
Marcin Kleczynski is the co-founder and CEO of Malwarebytes.
“Vector Capital’s investment is a testament to the transformational work our team has done to evolve our best-in-class endpoint protection into comprehensive offerings for individuals and organizations, while driving profitable growth,” he said. . “We believe Vector Capital’s collaborative approach and proven ability to help build global software companies make them ideal partners in our ongoing efforts to build a safer digital world.”
The funding from 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,” said Gill. “It has become a core business that keeps the internet safe for millions of people and organizations around the world every day. We look forward to supporting the business by leveraging our strong track record in creating and scaling technology companies, and working alongside management to further accelerate growth in the personal and enterprise lines of business.