American internet security leader Malwarebytes has received a cash infusion of $100 million from Vector Capital just weeks after laying off 125 employees. Vector Capital is a private equity firm focused on investing in established tech companies — typically, those with at least $100 million in yearly revenue. The firm has notably invested in companies such as Corel, LANDesk, RealNetworks, WatchGuard, and WinZip.
In August 2022, Malwarebytes dismissed approximately 14% of its global workforce — predominantly in San Francisco — which CEO Marcin Kleczynski suggests is more of a strategic reorganization than a reaction to market conditions. Despite the layoffs, the company is still hiring to focus on its areas with positive growth potential, and it plans to accelerate the process following Vector’s investment.
Kleczynski plans to use the capital to consolidate the company’s ownership structure and to continue building out its product portfolio, emphasizing refocused team growth and innovating with easy-to-use cybersecurity solutions. The company currently boasts 20,000 business customers and 3.5 million paying consumer subscribers.