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- Zimperium
Zimperium Acquisition, Valuation, Funding & Investors
Zimperium was acquired by Liberty Strategic Capital for $525M in March 2022, a 38.3x multiple on $14M of revenue.
Zimperium acquisition price
$525M
Acquired by Liberty Strategic Capital · Mar 2022
Zimperium revenue at acquisition
$14M
Last twelve months · Mar 2022
Zimperium revenue multiple at acquisition
38.3x
EV/Revenue · Mar 2022
Cumulative funding Zimperium raised
$72M
across 5 funding rounds
About Zimperium
Zimperium is a San Francisco-headquartered mobile threat defense provider protecting iOS and Android devices from malware, phishing, and network attacks. Founded in 2010, the company deploys its DAMA machine learning engine for real-time risk assessment on-device. Zimperium serves enterprises in finance, healthcare, and government with visibility into app behaviors and privacy controls worldwide.
Founded
2010
HQ
Website
Status
Acquired
Customer focus
B2B & B2G
Revenue model
Subscription
Revenue
$14M (Mar 2022)
Valuation
$525M (acquired Mar 2022)
Zimperium Acquisition
Zimperium was acquired by Liberty Strategic Capital for $525M on 28 March 2022.
The acquisition price implies a 38.3x revenue multiple on $14M of revenue.
Before the acquisition Zimperium had raised $72M across 5 funding rounds.
Zimperium, a Dallas-based mobile security platform providing real-time, on-device protection for mobile devices and apps against threats including phishing and vulnerabilities, agreed to be acquired by Liberty Strategic Capital, the private equity firm founded by former U.S. Treasury Secretary Steven Mnuchin, for $525 million. The deal, announced on March 28-29, 2022, marks Liberty's first controlling stake acquisition in cybersecurity and is expected to close in Q2 2022. SoftBank, an investor since 2017, and other prior backers like Warburg Pincus retain minority stakes. The investment aims to fuel Zimperium's growth through organic development, expanded go-to-market efforts, channel partner enablement, marketing, and strategic acquisitions, including integration of its prior whiteCryption purchase. Zimperium reported 53% annual recurring revenue growth in 2021 amid rising demand for mobile security post-Covid remote work surge. Mnuchin will chair the board, leveraging Liberty's cybersecurity focus seen in prior investments like Cybereason and BlueVoyant. Zimperium, founded in Israel in 2010 by Zuk Avraham, serves U.S. Department of Defense, J.P. Morgan, and other enterprises, with operations now in Dallas employing around 221 people. The firm had raised approximately $72 million previously. CEO Shridhar Mittal noted discussions of a potential future IPO, while the deal positions Zimperium to address escalating mobile cybersecurity needs.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 28 Mar 2022 | PE buyout | $525M | 38.3x |
Zimperium Funding History
Zimperium has raised a total of $72M across 5 funding rounds.
Zimperium's first fundraising round was a $8M Series A in October 2013. The most recent completed round was a $12M Series A in November 2018.
Zimperium funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Nov 2018 | Series A | Sierra Ventures (lead) | $12M | - |
| Mar 2017 | Series A | SoftBank Group (lead) | $15M | Zimperium is a mobile security platform founded in 2010 that provides enterprise security software for mobile operating systems including iOS, Android, and Chromebook, detecting threats on devices across industries such as healthcare, financial services, and defense. In March 2017, the company raised $15 million from SoftBank, an investment that brought the company's total funding raised to $60 million at that time. The 2017 investment round followed Zimperium's Series C funding of $25 million in 2016 led by Warburg Pincus and featuring Sierra Ventures and Lazarus Israel Opportunities Fund, as well as a $12 million Series B round in 2015 led by Telstra and backed by Toyo Corporation and Samsung. The company went on to deliver strong growth, achieving a 53% increase in annual recurring revenue in 2021 before being acquired by Liberty Strategic Capital for $525 million in March 2022, with SoftBank retaining a minority stake through the transaction. |
| May 2016 | Series C | Warburg Pincus (lead); Ibex Investors; Titanium Ventures; Sierra Ventures | $25M | Zimperium, provider of the industry's first mobile threat management platform, closed a $25 million Series C funding round on June 7, 2016, led by Warburg Pincus with participation from existing investors Sierra Ventures, Telstra Ventures, and Lazarus Israel Opportunities Fund LLLP. Warburg Pincus Managing Directors Cary Davis and Ashutosh Somani joined the board. The funding was intended to expand Zimperium's global customer reach, grow its mobile partner ecosystem including integrations with SIRIN Labs, Deutsche Telekom, and SmarTone, and enhance its Mobile Threat Protection product suite against advanced mobile cyberattacks. It also supported the zLabs research team in uncovering unknown threats using machine learning-based detection, differentiating from signature-based solutions. Zimperium's CEO Shridhar Mittal highlighted 2016 as a year of exceptional growth amid a tightening funding environment for cybersecurity firms. Warburg Pincus evaluated the mobile threat management market's potential, selecting Zimperium for its unique AI-driven, scalable platform. Later, in March 2022, Zimperium was acquired by Liberty Strategic Capital for approximately $525 million, reporting 53% ARR growth that year, with Warburg Pincus exiting after six years of partnership. |
| Feb 2015 | Series B | Titanium Ventures (lead); Samsung NEXT; Ibex Investors; Sierra Ventures | $12M | Zimperium, a leader in mobile threat defense, closed a $12 million Series B funding round on February 26, 2015, led by Telstra Ventures with participation from TOYO Corporation, Sierra Ventures, Lazarus Israel Opportunities Fund, and Samsung. The funding supported expansion, technological innovation against cybercrime, scaling operations, and growing its customer base including telcos and large enterprises. Telstra, an existing customer, highlighted Zimperium's unique on-device solution for advanced mobile cyber-security attacks. |
| Oct 2013 | Series A | Sierra Ventures (lead); Samsung NEXT; Ibex Investors; Jordan Eisenberg; Stephen Northcutt; David Eun | $8M | Zimperium is a mobile security company founded in 2010, offering products like the ZANTI Android Network Toolkit and a mobile intrusion detection system to help IT administrators monitor network devices. The company, with offices in Tel Aviv and California, raised an $8 million Series A round in October 2013 led by Sierra Ventures, with participation from investors including David Eun, Ibex Investors, Jordan Eisenberg, Samsung NEXT, and Stephen Northcutt. Sierra Ventures led the investment at a $9 million pre-money valuation to help establish product-market fit in the emerging mobile security space. The funding supported development of Zimperium's mobile security solutions amid growing mobile vulnerabilities, using machine-learning algorithms for threat detection. Zimperium later progressed with leadership changes, including Shridhar Mittal as CEO, and expanded through acquisitions like whiteCryption to cover mobile application security. The company achieved significant growth, culminating in a $525 million acquisition by Liberty Security Capital in 2022. |
Who has invested in Zimperium?
9 investors have backed Zimperium across its funding rounds, including Sierra Ventures, Ibex Investors, Samsung NEXT, Titanium Ventures, SoftBank Group and Warburg Pincus.
Lead investors include Sierra Ventures, SoftBank Group, Warburg Pincus and Titanium Ventures.
Zimperium Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Oct 2013 | ||
| 3 | Participant | Oct 2013 | ||
| 2 | Participant | Oct 2013 | ||
| 2 | Lead | Feb 2015 | ||
| 1 | Lead | Mar 2017 | ||
| 1 | Participant | Oct 2013 | ||
| 1 | Participant | Oct 2013 | ||
This data is available for Pro users. Sign up to see all 9 Zimperium investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Zimperium
Zimperium has acquired 2 companies to date.
Last acquisition by Zimperium was on July 6th 2021. Zimperium acquired whiteCryption for undisclosed valuation.
Latest Acquisitions by Zimperium
| Description | whiteCryption is an application shielding and white-box cryptography provider managed by Intertrust Technologies. The platform protects Android, iOS, Windows, macOS, Linux, and embedded apps from reverse engineering and tampering for industries like automotive, finance, and IoT. whiteCryption's solutions extract keys securely at runtime without exposing them in binary code. | Mi3 Security is a Mountain View-headquartered developer of cloud-based mobile risk management platforms launched in 2013. Its solution leverages machine intelligence, metadata analysis, and mobile telemetry to scan Android and iOS applications, delivering predictive threat assessments within minutes through a parallel multi-variant analysis engine. |
| HQ Country | ||
| HQ City | San Francisco, CA | San Francisco, CA |
| Deal Date | 6 Jul 2021 | 13 Jun 2018 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Zimperium acquisitions and their M&A valuation multiples. Start Free Trial | ||
Zimperium Competitors
Zimperium competitors include listed companies like eMudhra and GB Group, and private ones like Aryaka Networks, Cymulate, Descope and Novaigu.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $73M | $18M | $527M | 6.5x | ||
| Private | - | - | $539M | - | ||
| Private | - | - | $500M | - | ||
| Private | - | - | $500M | - | ||
| Private | - | - | $500M | - | ||
| Publicly listed | $382M | ($45M) | $479M | 1.5x |
Zimperium Public Comps
Zimperium is no longer listed, but its public comps include eMudhra, Global Security Experts, Hunan Kylinsec Tech, Beijing Huaru Technology, Hillstone Networks, GB Group, Baudroie, Beijing VRV Software, AHNLAB and Guangdong Tecsun Science.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $73M | $18M | 7.1x | 6.5x | 29.3x | 26.7x | |||
| $70M | $15M | 7.8x | 6.9x | 37.3x | - | |||
| $46M | ($9M) | 9.3x | 8.9x | (49.6x) | 110.2x | |||
| $45M | ($28M) | 9.1x | - | (14.9x) | - | |||
| $136M | ($18M) | 4.1x | - | (31.3x) | - | |||
| $382M | ($45M) | 1.5x | 1.5x | (13.1x) | 6.6x | |||
| $111M | $23M | 5.2x | 4.3x | 24.6x | 21.0x | |||
| $46M | ($44M) | 13.0x | - | (13.6x) | - | |||
This data is available for Pro users. Sign up to see all Zimperium competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Zimperium
| When was Zimperium founded? | Zimperium was founded in 2010. |
| Where is Zimperium headquartered? | Zimperium is headquartered in Dallas, TX, United States. |
| Is Zimperium publicly listed? | No, Zimperium was acquired by Liberty Strategic Capital in March 2022. |
| Who acquired Zimperium? | Zimperium was acquired by Liberty Strategic Capital in March 2022. |
| How much was Zimperium acquired for? | Zimperium was acquired for $525M in March 2022, a 38.3x revenue multiple. |
| How much funding has Zimperium raised? | Zimperium has raised $72M across 5 funding rounds. |
| What was Zimperium's last funding round? | Zimperium's last funding round was a $12M Series A in November 2018, led by Sierra Ventures. |
| Who are Zimperium's investors? | Zimperium's investors include Sierra Ventures, Ibex Investors, Samsung NEXT, Titanium Ventures, SoftBank Group, Jordan Eisenberg, Stephen Northcutt, Warburg Pincus and David Eun. |
| Which companies are comparable to Zimperium? | Companies comparable to Zimperium include eMudhra, Aryaka Networks, Cymulate, Descope, Novaigu and GB Group. |
| How many companies has Zimperium acquired? | Zimperium has acquired 2 companies, including whiteCryption and Mi3 Security. |
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