Tufin Acquisition, Valuation, Funding & Investors

Tufin was acquired by Turn/River Capital for $570M in April 2022, a 5.1x multiple on $111M of revenue.

See full Tufin profile

Tufin acquisition price

$570M

Acquired by Turn/River Capital · Apr 2022

Tufin revenue at acquisition

$111M

Last twelve months · Apr 2022

Tufin revenue multiple at acquisition

5.1x

EV/Revenue · Apr 2022

Cumulative funding Tufin raised

$18M

across 3 funding rounds

Tufin Overview

About Tufin

Tufin is a Tel Aviv-headquartered provider of network security automation software. The company's Orchestration Suite manages firewall policies, network devices, and hybrid cloud infrastructures for enterprises worldwide. Tufin enables rapid change implementation, continuous compliance monitoring, and visibility into application connectivity, serving sectors like finance, healthcare, and telecommunications from its global offices.


Founded

2004

HQ

United StatesBoston, MA

Website

tufin.com

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Revenue

$111M (Apr 2022)

Valuation

$570M (acquired Apr 2022)

Tufin Acquisition

Tufin was acquired by Turn/River Capital for $570M on 6 April 2022.

The acquisition price implies a 5.1x revenue multiple on $111M of revenue.

Before the acquisition Tufin had raised $18M across 3 funding rounds.

Tufin, a pioneer in policy-centric security and IT operations for hybrid networks and cloud environments, entered a definitive agreement on April 6, 2022, to be acquired by Turn/River Capital, a software-focused investment firm, in an all-cash transaction valued at $570 million. Shareholders received $13.00 per share, a 44% premium over the April 5 closing price. The deal included a 30-day go-shop period ending May 5, 2022, allowing solicitation of superior proposals, but none materialized. Tufin shareholders approved the transaction on June 7, 2022, with completion on August 25, 2022. Lion Investment Partners co-invested alongside Turn/River. Post-acquisition, Tufin's NYSE listing ended, and it remained headquartered in Tel Aviv, Israel. Strategic rationale focused on accelerating Tufin's shift to a subscription-based revenue model, expanding markets, and enhancing cloud product offerings with Turn/River's operational support. In 2021, Tufin reported $110.9 million in revenue, up 10% from 2020, amid a net loss of $36.9 million. Turn/River emphasized Tufin's leadership in network security policy management for enterprise infrastructure and cloud assets.

Tufin acquisition details
AcquirerDateTypePriceEV/Revenue
  • Turn/River Capital
6 Apr 2022PE buyout$570M5.1x

Tufin Funding History

Tufin has raised a total of $18M across 3 funding rounds.

Tufin's first fundraising round was a $9M Series C in July 2013. The most recent completed round was a $8M Series D in December 2014.

Tufin funding rounds

Tufin funding rounds
DateStageInvestorsRaised
Dec 2014Series DVintage Fund (lead); Vintage Investment Partners$8M
Aug 2014SeedAxess Ventures$1M
Jul 2013Series CMarker (lead); R136 Ventures; Vintage Investment Partners$9M

Who has invested in Tufin?

5 investors have backed Tufin across its funding rounds, including Vintage Investment Partners, Marker, R136 Ventures, Axess Ventures and Vintage Fund.

Lead investors include Vintage Fund and Marker.


Tufin Investors

Investors in Tufin by funding rounds participated
InvestorHQRoundsRoleFirst check
Vintage Investment PartnersIsraelHerzliya2ParticipantJul 2013
R136 VenturesCayman IslandsGeorge Town1ParticipantJul 2013
MarkerUnited StatesNew York City, NY1LeadJul 2013

This data is available for Pro users. Sign up to see all 5 Tufin investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Acquisitions by Tufin

Tufin has acquired 1 company to date.

Last acquisition by Tufin was on February 21st 2024. Tufin acquired AKIPS for undisclosed valuation.


Latest Acquisitions by Tufin

AKIPS
Description
AKIPS is a provider of scalable network monitoring systems engineered for high performance from a single server. Founded in April 2014, the company delivers advanced features including full network visibility, fault detection, and performance analytics for large-scale environments. AKIPS supports monitoring of thousands of devices with low resource usage, distinguishing itself through superior scale, speed, and user interface compared to competitors.
HQ CountryAustralia
HQ City
Brisbane
Deal Date21 Feb 2024
Valuationundisclosed
EV/Revenue
EV/EBITDA

This data is available for Pro users. Sign up to see all Tufin acquisitions and their M&A valuation multiples.

Start Free Trial

Tufin Competitors

Tufin competitors include listed companies like Beijing VRV Software and Baudroie, and private ones like Hawk, Shift5, Bitdefender and Doppel.

Public and private companies comparable to Tufin
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
HawkGermanyMunichPrivate--$560M-
Shift5United StatesUnited StatesPrivate--$591M-
Beijing VRV SoftwareChinaChinaPublicly listed$46M($44M)$595M-
BaudroieJapanJapanPublicly listed$112M$24M$595M4.3x
BitdefenderRomaniaBucharestPrivate--$600M-
DoppelUnited StatesLos Angeles, CAPrivate--$600M-

Tufin Public Comps

Tufin is no longer listed, but its public comps include Beijing VRV Software, Baudroie, eMudhra, Global Security Experts, Sansec, Hunan Kylinsec Tech, Aura.com, DBAPPSecurity, GB Group and OneSpan.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Beijing VRV Software$46M($44M)13.1x-(13.6x)-
Baudroie$112M$24M5.2x4.3x24.7x21.0x
eMudhra$73M$18M7.3x6.6x30.1x27.4x
Global Security Experts$71M$15M7.6x6.8x36.5x-
Sansec$83M($2M)6.1x5.4x(310.1x)(388.8x)
Hunan Kylinsec Tech$46M($9M)8.9x8.5x(47.5x)105.5x
Aura.com$193M($155M)5.7x-(7.0x)-
DBAPPSecurity$321M$15M1.8x1.8x38.5x21.1x

This data is available for Pro users. Sign up to see all Tufin competitors and their valuation data.

Start Free Trial

Common questions about Tufin

When was Tufin founded?Tufin was founded in 2004.
Where is Tufin headquartered?Tufin is headquartered in Boston, MA, United States.
Is Tufin publicly listed?No, Tufin was acquired by Turn/River Capital in April 2022.
Who acquired Tufin?Tufin was acquired by Turn/River Capital in April 2022.
How much was Tufin acquired for?Tufin was acquired for $570M in April 2022, a 5.1x revenue multiple.
How much funding has Tufin raised?Tufin has raised $18M across 3 funding rounds.
What was Tufin's last funding round?Tufin's last funding round was a $8M Series D in December 2014, led by Vintage Fund.
Who are Tufin's investors?Tufin's investors include Vintage Investment Partners, R136 Ventures, Marker, Vintage Fund and Axess Ventures.
Which companies are comparable to Tufin?Companies comparable to Tufin include Hawk, Shift5, Beijing VRV Software, Baudroie, Bitdefender and Doppel.
How many companies has Tufin acquired?Tufin has acquired 1 company, including AKIPS.

See companies similar to Tufin

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial