- Insight Partners announced it acquired a controlling stake in Recorded Future. Here are the details behind the deal.
Private equity firm Insight Partners recently announced it is acquiring a controlling stake in leading threat intelligence company Recorded Future along with a minority stake in the company previously owned. This all-cash transaction valued Recorded Future at more than $780 million and it is going to accelerate the next phase of the company’s global growth and expansion.
“Insight’s renewed investment is a testament to the vision and direction laid out by Recorded Future’s leadership team. They envision a world where everyone applies intelligence at speed and scale to reduce risk, remaining hyper-focused on providing clients with the threat intelligence necessary to understand their environments, manage risk, and combat malicious actors through contemporary awareness gained from the implementation of a threat intelligence-led security strategy. We are thrilled to partner with Recorded Future on this next stage of growth and look forward to what’s to come,” said Insight managing partner Mike Triplett.
Recorded Future is going to utilize Insight’s deep experience and internal consulting arm called Insight Onsite to further its technical and product vision through a range of growth-oriented activities. Recorded Future is now the largest privately-held threat intelligence software company in the world with over 400 clients and is adding hundreds of new clients every year across all geographies and sectors onto its unique SaaS platform.
Plus Recorded Future saw notable organic growth over the past 10 years as the threat intelligence market continued to expand rapidly with a direct impact on adjacent categories like security operations, vulnerability management, and third-party risk. Organizations of all sizes invest billions of dollars annually to enable effective security controls and operations in these areas. And Recorded Future is uniquely positioned to capitalize on a wide range of opportunities. Essentially, Recorded Future empowers its clients through the supplying and consumption of its intelligence at a near-equal rate across its web-based browser portal for human-based analysis and its API for machine-based enrichment and action in its security workflows.
What does Recorded Future do? It delivers the only complete threat intelligence solution powered by patented machine learning to lower risk. And the company empowers organizations to reveal unknown threats before they impact business and enables teams to respond to alerts ten times faster.
Recorded Future’s technology automatically collects and analyzes intelligence from technical, open web, and dark web sources and aggregates customer-proprietary data. Plus Recorded Future delivers more context than threat feeds, updates in real time so intelligence stays relevant, and centralizes information ready for human analysis, collaboration, and integration with security technologies.
Going forward, Mike Triplett and Thomas Krane are going to join Recorded Future’s board of directors. Recorded Future’s advisors in this deal included Chris Pasko and Ivan Brockman of PJT Partners. And John Patterson and Alexander Aber of Foley Hoag LLP provided legal counsel for Recorded Future. And Willkie Farr & Gallagher LLP provided legal counsel to Insight Partners.
“As a market leader, Recorded Future provides its services to the greatest number of large enterprises of any industry competitor, offering the best customer care and highest Net Promoter Score,” explained Insight Vice President Thomas Krane. “By doubling down on this long-term partnership, Insight looks forward to continuing our work in a high-growth market with this strong team of leaders — an asset that is core to our DNA at Insight.”
Some of Recorded Future’s customers include government agencies and Fortune 500 companies like Fujitsu, T-Mobile, Fannie Mae, Gap, Accenture, Regions, and Verizon.
