PhishMe bought by a consortium of investors at $400 million valuation

PhishMe, Inc. is a company  that develops anti-phishing threat management solutions against phishing, malware, and drive-by attacks.

According to reports the company was recently purchased by a consortium of private equity firms at a valuation of $400 million.
According to a company’s spokesperson, “This is an acquisition by a consortium of investors. The wording is really a reflection of the fact that there were a number of parties involved.”

However the company did confirm that the  consortium consisted of two private equity firms, BlackRock and Pamplona Capital Management with the latter owning about two-thirds of the company and BlackRock owning the remainder.

Following the acquisition the company will also change its brand name to Cofense .

In a  blog post, company CTO and co-founder Aaron Higbee wrote, “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,”

PhishMe/Cofense has raised $58 million. The most recent round was in July 2016 for $42.5 million led by the Paladin Capital Group.

 

 

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