Avast gets $100m investment boost

Posted by   Virus Bulletin on   Aug 24, 2010

Growth equity firm invests in Czech firm

Avast Software, the Czech anti-malware firm famous for its free avast! software, has announced that growth equity investor Summit Partners has invested $100 million for a minority stake in the company.

The Czech security company has been in business since 1991, recently changing its name from Alwil Software to the more instantly recognisable brand Avast Software, matching the company name to its best known software offering.

Somewhat unusually for the anti-malware industry, the company's business model is based on providing a free-of-charge home-user product alongside a paid premium product, the idea being that satisfied users of the free product effectively market and advertise the premium product by recommending it to friends and colleagues. The business model, dubbed 'freemium', seems to have worked well for the company, with avast! estimated to be installed on one in five machines around the world.

Han Sikkens, a Principal in Summit Partners' London office, said "For 26 years, Summit Partners has been investing in profitable, innovative leaders in the security software industry, and it is rare to find a company such as Avast that redefines how an industry does business. We are very excited about the growth prospects of this exceptional company."

A press release detailing the investment can be read here.

Posted on 24 August 2010 by Virus Bulletin

twitter.png
fb.png
linkedin.png
hackernews.png
reddit.png

 

Latest posts:

VB2019 paper: APT cases exploiting vulnerabilities in region-specific software

At VB2019, JPCERT/CC's Shusei Tomonaga and Tomoaki Tani presented a paper on attacks that exploit vulnerabilities in software used only in Japan, using malware that is unique to Japan. Today we publish both their paper and the recording of their…

New paper: Detection of vulnerabilities in web applications by validating parameter integrity and data flow graphs

In a follow-up to a paper presented at VB2019, Prismo Systems researchers Abhishek Singh and Ramesh Mani detail algorithms that can be used to detect SQL injection in stored procedures, persistent cross-site scripting (XSS), and server‑side request…

VB2020 programme announced

VB is pleased to reveal the details of an interesting and diverse programme for VB2020, the 30th Virus Bulletin International Conference.

VB2019 paper: Cyber espionage in the Middle East: unravelling OSX.WindTail

At VB2019 in London, Jamf's Patrick Wardle analysed the WindTail macOS malware used by the WindShift APT group, active in the Middle East. Today we publish both Patrick's paper and the recording of his presentation.

VB2019 paper: 2,000 reactions to a malware attack – accidental study

At VB2019 cybercrime journalist and researcher Adam Haertlé presented an analysis of almost 2000 unsolicited responses sent by victims of a malicious email campaign. Today we publish both his paper and the recording of his presentation.

We have placed cookies on your device in order to improve the functionality of this site, as outlined in our cookies policy. However, you may delete and block all cookies from this site and your use of the site will be unaffected. By continuing to browse this site, you are agreeing to Virus Bulletin's use of data as outlined in our privacy policy.