KKR-backed KnowBe4 valued at over $3.5 bln in strong Nasdaq debut
A month after declaring its intent to go public, Clearwater-based cybersecurity training company KnowBe4, Inc. (NASDAQ: KNBE) saw strong market debuts after its shares opened nearly 25% above their offer price on Nasdaq.
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.