KKR-backed cybersecurity firm KnowBe4 aims for $3 bln valuation in U.S. IPO


April 12 (Reuters) - Cybersecurity company KnowBe4 Inc, backed by private-equity firm KKR & Co KKR.N and funds affiliated with Goldman Sachs GS.N, said on Monday it was aiming for a valuation of up to $3 billion in its initial public offering in the United States.

Clearwater, Florida-headquartered KnowBe4 was founded in 2010 by serial entrepreneur and cybersecurity expert Stu Sjouwerma. The company had 37,000 customers as of the end of last year, according to its filing. KnowBe4's platform allows clients to simulate phising attacks on their employees and check how well they are safeguarded against such attacks. It also offers security awareness training.

The company joins technology firms rushing to public markets in a particularly busy year, which has seen the likes of gaming platform Roblox Corp RBLX.N, e-commerce company Coupang Inc CPNG.N and cloud-computing firm DigitalOcean DOCN.N go public. KnowBe4 said it would sell around 11.8 million shares along with a group of selling stockholders, priced between $16 and $18 each.

At the top end of this range, KnowBe4 would raise about $213 million.

Shares would be listed on the Nasdaq under the symbol "KNBE", the company said in its filing.

Morgan Stanley, Goldman Sachs, BofA Securities and KKR are the lead underwriters for the offering.

(Reporting by Niket Nishant in Bengaluru; Editing by Vinay Dwivedi)


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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