Why We Invested in NetSPI
Today we’re pleased to announce our investment in NetSPI. In cybersecurity, understanding where weaknesses lie is a critical first step in defense. One crucial way to assess this is through penetration testing, where “ethical hackers” attempt to break into your systems before attackers can. Penetration testing is often required of technology vendors by their customers and a mandated part of certain required compliance programs and certifications, including SOC 2. Because of its importance, pen testing represents a $1.7Bn market growing at 22% a year – but companies are always looking for a way to do it in a faster and easier manner.
We invested in NetSPI because we know how vital penetration testing and attack surface management are to complete security hygiene. NetSPI helps companies conduct penetration testing more efficiently and effectively than any other company out there.
NetSPI has developed a penetration testing as a service (PTaaS) platform, Resolve, that combines the specialized skill sets of their pen testers with an automated platform and reporting service. This platform speeds up the penetration testing process and gives customers a quicker interface through which to receive, understand, and remediate vulnerabilities. The company’s long-term vision is to deliver continuous testing and monitoring capabilities, bolstered by a superior user experience for both the pen tester and the end customer. NetSPI provides consistent value through its tech-enabled but human-led testing platform, leading to faster actionable results for their clients.
NetSPI clients are vocal about their enthusiasm for the platform. Known as an excellent brand name in the space, NetSPI has long-standing, repeat relationships with its customers, including 2 out of 3 of the largest global cloud providers, 9 out of 10 of the top U.S. banks, and all four branches of the Department of Defense. Customers view NetSPI as easy to work with and customer-focused, with a high-quality, experienced bench of in-house testers who can deliver results quickly – all thanks to the culture, processes, and technology the company has developed over its 20-year history.
This investment is another example of our partnership with KKR, as we invested in NetSPI as part of our Joint Investment Alliance. There’s an exciting year ahead for NetSPI as they continue to hire to meet demand, expand their go-to-market tactics, and continue to innovate on their product offerings. We’re thrilled to be part of the team now and do whatever we can to help the company in its next phase of growth.