CEO Gidi Cohen Discusses $96 Million Investment and Skybox Growth Trajectory
Shannon Ragan Feb 2, 2016
2015 was a banner year for Skybox. In 2015, the company increased year-over-year sales by 55 percent, fueled by a 59 percent increase in deals valued more than $100,000 and 165 percent increase in deals valued more than $500,000. This continued a trend of sustained growth; over the last four years, Skybox has grown its acquisition rate of new customers by 220 percent and revenue by 221 percent.
These numbers combined with an innovative and diverse product platform caught the eye of investors. Providence Strategic Growth, the growth equity affiliate of a global private equity firm, invested $96 million in Skybox, which the company will use to expand its employee base, invest in existing and new channel programs and fuel innovation of new products. Seeing an immense market opportunity and in response to the needs of enterprise customers to gain visibility of their attack surface, Skybox has taken on the mission to become the number one security analytics company in the world.
“Skybox is on the leading edge of a security segment that’s highly relevant right now, given the high-profile network security breaches that have occurred at numerous large enterprises,” said Thomas M. Reardon, managing director of Providence Strategic Growth. “Skybox Security innovations in network visualization and intelligence are reshaping how large enterprises manage their security programs.”
Listen to Gidi Cohen on how the growth equity investment signals a new era for Skybox.
“This deal is a great validation of our strategic vision for the company, the success of our technology in the market and our ability to execute,” said Cohen. “We’ve been on an incredible upward trajectory, and the investment will accelerate that growth. I’ve no doubt, with the innovations we’re bringing to market this year and next, Skybox will become the undisputed leader in security analytics.”