Global growth equity investor, Summit Partners, announced that it has agreed to a $625 million investment into Invicti Security. This new financing is designed to support the continued growth and product development initiatives of Invicti Security.
With the help of its Acunetix and Netsparker product lines, Invicti’s software is designed to enable organizations to scan their entire internet footprint for vulnerabilities and facilitate remediation through integration into developer workflows.
Invicti founder and CEO, Ferruh Mavituna, stated, “ We are absolutely thrilled to welcome Summit for this next chapter in our company’s growth…We’re confident that Summit’s extensive security experience will help accelerate our product innovation, expand our reach and address the urgent problem of web application security faced by organizations around the world.”
In the last 12 months Inviciti has experienced a period of significant growth consisting of 700 new customers while on track to grow ARR by over 60% in 2021. The firm currently serves over 3100 costumes worldwide and has scanned over 800,000 websites to date.
Joanne Yuanne, Partner at Turn/River Capital, added, “We are proud to have supported Invicti and its team since 2017 through a tremendous growth journey amid soaring enterprise demand for full application security coverage. We are excited to reinvest into this partnership alongside Summit, reaffirm our conviction in the opportunity ahead and help to further accelerate the company’s growth.”