Rapid7 Acquires IntSights: Company Backgrounds
IntSights Cyber was a venture-backed startup. The company in November 2019 raised $30 million in series D funding led by Qumra Capital. Total funding at the time was $70 million.Key investors also included Wipro, the India-based IT consulting and software development giant. Wipro sold its entire IntSights Cyber stake to Rapid7 for $19.17 million -- which is a 4.5X return vs. the $4.21 million that Wipro invested in IntSights in 2016, SeekingAlpha reports.Rapid7, meanwhile, remains in growth mode. The company's ARR (annualized recurring revenue) will be $489 million in Q2 of 2021, up 29 percent year-over-year, the company estimated today. Full Q2 2021 financial results will be announced on August 4, 2021.In a prepared statement about the deal, Rapid7 CEO Corey Thomas said:“Cyber security is a lopsided battle today and the odds consistently favor attackers. Both IntSights and Rapid7 have a shared belief that organizations will succeed only when they have a unified view of internal and external threats, complete with contextualized intelligence and automated threat mitigation which will allow security teams to focus on the most critical threats. We look forward to working with IntSights to make this vision a reality for our customers.”
“We founded IntSights to make threat intelligence instantly accessible and actionable for organizations of any type or size. We are excited to join Rapid7 to continue this mission and to bring our threat intelligence capabilities to even more customers.”
Rapid7 M&A Experience
Rapid7 has been a steady buyer in the cybersecurity market. Previous acquisitions include:- February 2021: Alcide.IO, a Kubernetes security company.
- April 2020: DivvyCloud for Cloud Security Posture Management (CSPM) across Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform, Alibaba & Kubernetes.
- April 2019: NetFort, a network monitoring & visibility solution firm.