PRESS RELEASE
Tampa Bay, FL (April 24, 2024) – KnowBe4, the provider of the world’s largest security awareness training and simulated phishing platform, today announced it has entered into a definitive agreement to acquire Egress, a leader in adaptive and integrated cloud email security. Egress’ Intelligent Email Security suite provides a set of scaled, AI-enabled security tools with adaptive learning capabilities to help prevent, protect and defend organizations against sophisticated email cybersecurity threats. Further terms of the transaction were not disclosed.
Organizations globally struggle to contain behavioral-based data breaches, with 74 percent of incidents involving the human element according to Verizon’s Data Breach Investigations Report. By acquiring Egress, KnowBe4 plans to deliver a single platform that aggregates threat intelligence dynamically, offering AI-based email security and training that is automatically tailored relative to risk.
“The future of security is personalized AI-driven controls and real-time coaching. By providing a single platform from KnowBe4 and Egress, our customers will benefit from differentiated aggregate threat detection to stay ahead of evolving cyber threats and foster a strong security culture,” said Stu Sjouwerman, CEO, KnowBe4. “As integration partners for over a year with strong philosophical and cultural alignment, this acquisition is a natural progression for both companies to take human risk management and cloud email security to the next level.”
“KnowBe4 and Egress have a shared vision of delivering tailored and relevant security to each employee,” said Tony Pepper, CEO, Egress. “One of the biggest challenges organizations face is accurately identifying who the next source of compromise is – and why. By combining intelligence and analytics from integrated applications, companies can gain valuable insights across their entire cyber ecosystem, allowing them to focus on the risks that matter most.”
The announcement comes on the heels of significant achievements for both companies thus far in 2024. KnowBe4 recently announced its AI-native platform, Artificial Intelligence Defense Agents (AIDA), which incorporates advanced AI agents to power efficacy and speed. Recent notable awards include being recognized as a Top Software Winner by G2 and a winner of Energage’s Top Workplaces USA for 2024. Meanwhile, Egress launched its AI-powered Automated Abuse Mailbox in early April and received several award recognitions, including Security Innovation of the Year (Computing Security Excellence Awards), Best Email Security Solution, Best Data Leak Prevention Solution (SC Awards Europe) and Best Place to Work in the UK (Great Places to Work 2024).
The transaction is expected to close in the coming months subject to customary closing conditions and regulatory approvals.
Egress is backed by FTV Capital and AlbionVC. Citi served as exclusive financial advisor to Egress and Orrick, Herrington & Sutcliffe LLP served as legal counsel to Egress.
For more information on KnowBe4, visit www.knowbe4.com. For more information on Egress, visit www.egress.com.
About KnowBe4
KnowBe4, the provider of the world’s largest security awareness training and simulated phishing platform, is used by more than 65,000 organizations around the globe. Founded by IT and data security specialist Stu Sjouwerman, KnowBe4 helps organizations address the human element of security by raising awareness about ransomware, CEO fraud and other social engineering tactics through a new-school approach to awareness training on security. The late Kevin Mitnick, who was an internationally recognized cybersecurity specialist and KnowBe4’s Chief Hacking Officer, helped design the KnowBe4 training based on his well-documented social engineering tactics. Organizations rely on KnowBe4 to mobilize their end users as their last line of defense and trust the KnowBe4 platform to strengthen their security culture and reduce human risk.
About Egress
As advanced persistent threats continue to evolve, we recognize that people are the biggest risk to organizations’ security and are most vulnerable when using email.
Egress is the only cloud email security platform to continuously assess human risk and dynamically adapt policy controls, preparing customers to defend against advanced phishing attacks and outbound data breaches before they happen. Leveraging contextual machine learning and neural networks, with seamless integration using cloud-native API architecture, Egress provides enhanced email protection, deep visibility into human risk, and instant time to value.
Source: www.darkreading.com