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Insight Venture Partners sells cybersecurity company BeyondTrust to private equity firm

3 Sep 2014

Insight Venture Partners has sold its stake in cybersecurity solutions business BeyondTrust to New York private equity firm Veritas Capital.

BeyondTrust says it is the cybersecurity industry’s only provider of context-aware solutions for privilege and vulnerability management and hopes to become a provider of a leading cybersecurity software platform.

The company currently has more than 4,000 customers including businesses in the government, technology, aerospace and defense, media & entertainment and pharmaceutical sectors.

Veritas is believed to using cash from its fifth fund which exceeded its $1.5bn target and closed on a hard cap of $1.87bn in August.

The firm’s partner Hugh Evans said, “Veritas Capital is pleased to be associated with BeyondTrust, which has a long history of providing market-leading cybersecurity software to enterprise and government markets.

“We expect the cybersecurity market to benefit from increasing regulatory/compliance requirements, high profile breaches and complexity of the IT environment.

“BeyondTrust’s unified risk management software solution provides an essential component to securing critical information technology infrastructure.”

In August Insight announced it led a healthy $135m funding round for online tech training company Pluralsight.

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