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KnowBe4 is a leading provider of security awareness training and simulated phishing platforms, serving approximately 60,000 organizations worldwide. Founded by IT and data security expert Stu Sjouwerman, the company focuses on addressing the human element of cybersecurity. KnowBe4’s innovative approach helps organizations raise awareness about threats like ransomware, CEO fraud, and social engineering tactics.
Tens of thousands of organizations globally rely on KnowBe4 to mobilize their end-users as the last line of defense against cyber threats. The company’s training programs are designed based on the expertise of well-known cybersecurity specialists, including the late Kevin Mitnick, KnowBe4's Chief Hacking Officer.
One of KnowBe4's latest achievements is the launch of PhishER Plus, a product that leverages a global user base trained to identify and report phishing attacks. This advanced tool includes exclusive features like the Global Blocklist and Global PhishRIP, which work to block and remove phishing emails before they reach users' inboxes.
The Global Blocklist compiles validated threats from over ten million trained users, automatically blocking new phishing attempts. The Global PhishRIP feature quarantines confirmed phishing threats, removing them even before they are reported within an organization.
KnowBe4 is also an active participant in National Cybersecurity Awareness Month (NCSAM), providing resources like awareness posters, cybersecurity tips, and on-demand webinars. These resources aim to build a solid foundation of cybersecurity practices both for individuals and businesses, focusing on key behaviors such as multi-factor authentication and recognizing phishing attempts.
The company continues to innovate and provide invaluable tools and training to help organizations enhance their cybersecurity posture, promoting a culture of security awareness and safe online practices.
KnowBe4, Inc. (Nasdaq: KNBE) has announced a definitive agreement to be acquired by Vista Equity Partners in an all-cash transaction valued at approximately $4.6 billion. Shareholders will receive $24.90 per share, a 44% premium over the closing price before the offer. The deal, unanimously approved by KnowBe4's Board, aims to leverage Vista's resources for further growth. Closing is expected in the first half of 2023, pending regulatory approvals. If completed, KnowBe4 will become a private company, ceasing to trade on Nasdaq.
KnowBe4 has launched an updated version of its Compliance Audit Readiness Assessment (CARA), now addressing specific needs related to the HIPAA Security Rule. This complimentary tool assists healthcare organizations in preparing for compliance audits by evaluating their readiness against HIPAA requirements. There have been 4,419 reported healthcare data breaches from 2009 to 2021, exposing over 314 million records. The updated CARA aims to simplify the compliance process for security professionals in healthcare, ensuring better protection of sensitive patient data.
KnowBe4 Confirms Acquisition Proposal
On September 19, 2022, KnowBe4 (Nasdaq: KNBE) announced the receipt of a non-binding acquisition proposal from Vista Equity Partners, offering $24 per share in cash, representing a 39% premium over the company’s closing price on September 16, 2022. The KnowBe4 Board has established a Special Committee of independent directors to evaluate this proposal and other potential value enhancement opportunities. No further comments will be made until the review is completed, emphasizing that there is no guarantee of a transaction.
KnowBe4 Inc (Nasdaq: KNBE) has launched KnowBe4 Ventures, a new venture arm aimed at investing in startups focusing on the human aspect of cybersecurity. Collaborating with notable funds like Elephant and Ten Eleven Ventures, this initiative addresses a significant spending gap, as 82% of breaches involve human elements while only 3% of cybersecurity budgets are allocated to this area. The fund will make early-stage investments, targeting companies with initial traction and solid financial strategies.
KnowBe4 reported strong financial results for Q2 2022, with revenues increasing 36.1% year-over-year to $80.8 million and annual recurring revenue (ARR) up 36.5% to $328.3 million. The company ended the quarter with net cash from operations of $22.3 million and free cash flow of $19.1 million. Key drivers of growth included international expansion and successful product launches. The company also forecasts Q3 revenues between $85 - $86 million and full-year revenues of $333 - $334 million.
KnowBe4 has released findings on phishing email effectiveness, revealing that over 50% of clicked subject lines mimicked Human Resources communications. Topics included vacation policies and performance reviews, while IT-related requests such as immediate password verifications were also significant. KnowBe4 emphasizes the need for new-school security training, highlighting that over 80% of data breaches stem from human error. With more than 50,000 global organizations using its platform, KnowBe4 aims to reduce phishing risks through enhanced employee awareness.
KnowBe4, Inc. (NASDAQ: KNBE) announced it will release its second quarter 2022 financial results on August 4, 2022, prior to market opening. A conference call will be held at 8:30 am ET on the same day to discuss these results. Investors can access the news release on the company’s Investor Relations Website before the call, with an archived webcast available afterward. KnowBe4 is recognized as a leader in security awareness training, utilized by over 50,000 organizations globally, focusing on combating social engineering tactics.
KnowBe4 released its 2022 Phishing by Industry Benchmarking Report, revealing that 32.4% of untrained employees are likely to fall for phishing attempts. Industries most at risk include Consulting, Energy & Utilities, and Healthcare & Pharmaceuticals, with over 50% of employees in these sectors vulnerable. The report analyzed data from 30,173 organizations and showed that with proper training, the average Phish-prone Percentage (PPP) dropped from 32.4% to 5% after 12 months. The findings underscore the importance of addressing the human factor in cybersecurity.
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