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Liberty Strategic Capital, a Washington D.C.-based non-public fairness fund based by former U.S. Treasury Secretary Steven Mnuchin, has acquired a controlling stake in enterprise safety agency Zimperium for $525 million.
The deal is Liberty Strategic Capital’s first majority stake acquisition since its launch final 12 months. It has additionally led late-stage funding rounds in cybersecurity companies BlueVoyant and Cybereason. Mnuchin, a former Goldman Sachs govt who served as Treasury Secretary in the course of the Trump administration, will chair Zimperium’s board of administrators.
SoftBank, which has been an investor in Zimperium since 2017, will proceed as a minority proprietor.
Based in 2010, Zimperium supplies cell safety options for iOS, Android, and Chromebooks gadgets. It serves enterprises throughout industries, together with monetary companies and healthcare, counting JPMorgan Chase and the U.S. Division of Protection as its clients. The Dallas, Texas-headquartered agency has raised over $100 million in fairness and debt financing from traders together with Warburg Pincus, and in addition received Calcalist’s Cell 2013 startup competitors. The corporate employs round 200 individuals.
The enterprise has been rising in the course of the pandemic, with its annual recurring income increasing 53% final 12 months, the corporate stated.
“It has been an enormous tailwind for us as a result of as employees are beginning to work extra from house, they’re beginning to do extra of their work on cell gadgets,” stated Shridhar Mittal, chief govt at Zimperium.
Mnuchin raised $2.5 billion for Liberty Strategic Capital final 12 months and focuses on funding alternatives within the cybersecurity, cost in addition to media area.
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