The company is already in Dizraptor’s portfolio since Jun 10. New offerings are possible in the future
About the Company
Malwarebytes provides software designed to protect businesses and consumers against malicious threats that consistently escape the mainstream solutions.
In June 2021, AV-Comparatives, an independent agency that reviews the work of cybersecurity service providers, recognized Malwarebytes' end-point protection product as one of the best products among 19 solutions. Moreover, Malwarebytes won a Gold Globe Business Awards for endpoint detection and response and for the Malwarebytes 4.0 in the 17th Annual 2021 Cyber Security Global Excellence Awards.
Founded in 2008 in Silicon Valley, the company has a global team of 860 employees working in its offices in the US, Estonia, Ireland and Singapore. Among its clients there are Lenovo, Uber, Workday, Dole Food Company and others.
During its 2020 fiscal year, Malwarebytes detected and blocked nearly 900 million threats, running close to 635 million remediations, while also providing some of the most comprehensive threat analytics available.
Market Opportunities
The global cybersecurity market size was valued at $167B in 2020 and is expected to register a CAGR of 10.9% from 2021 to 2028.
Venture capital investment in cybersecurity got an extra boost during the pandemic as remote work created extra challenges. According to data firm PitchBook, venture funding in cybersecurity hit a record $10B in 2020 and as of late May 2021 had already reached $8B.
According to J.P. Morgan study, top managers of the leading US companies plan to increase investments in cyber security software services in the next 5 years, which would represent a growth driver for this market and secure long-term contracts with large clients for service providers in this market.
Financials and Valuation
Malwarebytes claimed record results from its 2020 fiscal year, and demonstrated continued growth acceleration. The company exited fiscal 2020 with more than $190M in Annual Recurring Revenue (ARR).
Malwarebytes has raised a total of $80M in funding over 2 rounds. The latest funding was raised in January 2016 from a Series B round. Malwarebytes is funded by Fidelity (invested in Spotify, Compass, and Twilio) and Highland Europe.
Risks
Malwarebytes faces a competitive landscape in the software security industry, which may affect Malwarebytes’ long-term viability.
In January 2021 Malwarebytes revealed that SolarWinds hackers breached its systems and gained access to its email. It can negatively affect the company's reputation.
Sources
Business Security Test 2021 (March – June), AV Comparatives, Jun 2021
Cyber Security Global Excellence Awards winners, Globee Awards, Dec 2021
Cyber Security Market Report, Grand View Research, Apr 2021
“Cybersecurity startup Exabeam raises $200 mln, valued at $2.4 bln”, Reuters, Jun 2021
“Malwarebytes ‘s email systems hacked by SolarWinds attackers”, Security Affairs, Jan 2021