www.acronis.com
Year invested: 2019
Sector: Cyber security (data protection)

Company Overview

Acronis provides software that integrates cyber security, data protection and management across endpoints, systems and data. Traditional antivirus and backup solutions frequently lack integration and require significant time for management. Acronis provides a unified approach, consisting of a single backend infrastructure and single subscription license. This integrated solution can help businesses of many sizes automate the detection and prevention of attacks, and the recovery of data. Acronis was founded in 2003 and is dual-headquartered in Boston, MA and Schaffhausen, Switzerland. 

Investment Thesis

We are impressed by Acronis’ large, diversified customer base and distribution capabilities. The Company focuses on the global SMB customer segment, sells through a network of 17,000+ active service providers and has 290,000+ end customers that are diversified across industries. Springcoast is a customer and uses Acronis for data backup and integrated cyber protection. We believe that the Company’s market is large and growing. Industry consultancy IDC projects a 30% CAGR for cloud-based cybersecurity solutions between 2020 and 2025, and for SMB service provider spend to grow at 4x the rate of overall SMB IT spend. As a leading provider, Acronis is making substantial investments in its product suite and maintains an R&D team of 700+ people. The Company is recognized as a leading vendor by industry analysts, including by Gartner in its Peer Insights Report. Customer NPS scores demonstrate consistently high levels of satisfaction with the platform. 

We are proud to have supported Acronis through a successful transition to a 100% cloud subscription and delivery model. We look forward to supporting the Company’s continued innovation as it expands toward a comprehensive, unified cyber security and data protection platform.