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    KNBE   US49926T1043


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KKR-backed KnowBe4 valued at over $3.5 billion in strong Nasdaq debut

04/22/2021 | 01:52pm EDT
FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the NYSE in New York

(Reuters) - Cybersecurity firm KnowBe4 Inc on Thursday joined a string of technology-focused companies that saw strong market debuts in the United States this year, after its shares opened nearly 25% above their offer price on Nasdaq.

The company, backed by private equity firm KKR & Co Inc, gained a valuation of $3.56 billion in afternoon trading when its shares were up 33%. They opened at $19.95, above the initial offering price of $16.

KnowBe4 on Wednesday priced its offering of 9.5 million shares at the lower end of a range announced earlier, for a total raise of $152 million. Excluding proceeds from shares offered by the selling stockholders, the company would receive around $144 million.

Founded in 2010 by Stu Sjouwerman, KnowBe4 allows clients to simulate phishing attacks on their employees and check how well they are protected. It also offers security awareness training.

A part of the proceeds would be used to expand further into international markets including the United Kingdom and Japan, Sjouwerman said.

The debut for the Clearwater, Florida-based firm comes at a time of frenetic activity in U.S. capital markets, with tech firms including cryptocurrency exchange Coinbase Global Inc and automation software provider UiPath Inc witnessing solid market debuts.

Demand for KnowBe4's services increased during the COVID-19 pandemic, as companies spent more to protect the IT systems of employees working from home.

"It's going to take a long time before things return to normal and people come back to office, so we don't see a major change in the growth trajectory in the near future," Sjouwerman said.

Reuters reported on the company's IPO plans last year.

Morgan Stanley, Goldman Sachs, BofA Securities and KKR Capital Markets were the lead underwriters for the offering.

(Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.)

By Niket Nishant

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COINBASE GLOBAL, INC. 11.28% 293.45 Delayed Quote.0.00%
KKR & CO. INC. -2.78% 57.09 Delayed Quote.45.02%
KNOWBE4, INC. -3.58% 18.6 Delayed Quote.0.00%
NASDAQ COMP. -2.55% 13401.857613 Delayed Quote.6.70%
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04/22KKR-backed KnowBe4 valued at over $3.5 billion in strong Nasdaq debut
04/22KNOWBE4á : Security Platform KnowBe4 Shares Jump in Stock Market Debut
04/21KnowBe4 Announces Pricing of Initial Public Offering
More news
Financials (USD)
Sales 2020 175 M - -
Net income 2020 -2,43 M - -
Net cash 2020 73,2 M - -
P/E ratio 2020 -
Yield 2020 -
Capitalization 3 275 M 3 275 M -
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees 1 014
Free-Float 5,72%
Duration : Period :
KnowBe4, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends KNOWBE4, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Managers and Directors
Stu Sjouwerman Chairman & Chief Executive Officer
Krish Venkataraman Co-President & Chief Financial Officer
Lars Letonoff Co-President & Chief Revenue Officer
Gerhard Watzinger Independent Director
Kara Wilson Independent Director
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