Cybersecurity solutions provider Acronis announced a $147 million investment round led by Goldman Sachs.
Acronis offers backup, disaster recovery (DR), and file sync-and-share products across virtual, physical, cloud, and mobile environments.
The investment round sets the company’s valuation to over $1 billion and enables Acronis to expand its engineering team in Singapore, Bulgaria, and Arizona, build additional data centers, and grow through acquisitions.
Additionally, Acronis will use the capital to accelerate the business growth in North America in partnership with Acronis SCS, an independent software vendor and distributor for the public sector.
Worldwide spending on information security products and services will reach more than $114 billion in 2018, an increase of 12.4% from last year, according to Gartner’s latest forecast. In 2019, the market is forecast to grow by 8.7% to $124 billion.