Threat Intelligence Provider Recorded Future Acquired
Insight Partners has acquired threat intelligence provider Recorded Future, which helps MSSPs and SOC (security operations center) analysts to more effectively manage and resolve cybersecurity alerts. The deal values Recorded Future at more than $780 million — though EBITDA and revenue multiples were not disclosed.
Insight previously made a Series E minority investment in Recorded Futures. In a positioning statement at the time, Recorded Futures claimed to empower SOC teams to respond to alerts 10 times faster.
Recorded Future’s current MSSP pitch is short-and-sweet, stating:
“MSSPs are partnering with Recorded Future to deliver threat intelligence that enhances security operations. Recorded Future increases the effectiveness of any MSSP, instantly adding vital context to the information you gather from security systems you manage. Access to contextualized threat intelligence will position you as a true advisor bringing unique insights to help protect your customers.”
Recorded Future has more than 400 customers, and the company has been expanding into such opportunities that involve security operations, vulnerability management and third-party risk mitigation. The company’s partner program spans technology, reseller and MSSP partners.
Insight Partners and Recorded Future: Executive Statements
In a prepared statement, Recorded Future CEO Christopher Ahlberg said:
“My leadership team and I have had the privilege to work with Mike Triplett and the Insight team for a number of years, benefiting from their sage advice, industry knowledge, and relationships. This transaction is the logical next step for Recorded Future given the opportunities in front of us, as we fully realize the potential and vision of our strategy.
This evolution of our relationship will allow Recorded Future to better serve its current and future clients as we tap into the full potential of our technical roadmap and position our software to truly answer some of the most difficult and unique intelligence challenges faced by our community.
Mike Triplett, managing director at Insight, added:
“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.”
Insight Partners: MSP, MSSP and Cybersecurity Experience
Insight Partners has invested in numerous technology companies that have MSP, MSSP and cybersecurity focus areas. Key holdings include Kaseya, Darktrace, Firemon, Keyfactor, Mimecast, Prevalent, Resolve Systems, Tenable & Tegerna, among others, according to this MSP-focused private equity report from ChannelE2E in February 2019.