Evolution and growth have been key to the success of Barracuda Networks since its founding in 2003 by three entrepreneurs. We started by defining a new market category: anti-spam and email protection for small and medium-sized enterprises (SMEs). We grew the business by expanding our product solutions organically and through impactful acquisitions. We went public in 2013, and we significantly matured as a company. After several successful years as a public company, we realized that with additional focus and investment, we had the opportunity to fundamentally transform our business and the value it provides to our customers and partners. So, we decided to go private and selected Thoma Bravo as our partner for this critical phase. With the support of Thoma Bravo, we were able to make our award-winning solutions easier to deploy and deliver with a focus on meeting the needs of our customers as they migrated to the cloud. And throughout, we saw increasing profitability and revenue growth. I’m very appreciative of the great support we received from Thoma Bravo throughout our transformation.
Now we’re excited to continue the journey with KKR. KKR is known for its ability to help companies accelerate growth and create value for key stakeholders, including employees. We have the engineering talent to drive innovation, and the go-to-market and customer success know-how to acquire new customers and continually delight our existing customers. All of our teams are working together to keep our customers safe from the ever-increasing cybersecurity threats. And we have enabled our managed service partners to participate in this mission.
Finding the right sponsor ― KKR
At this point in the journey, we were looking for a sponsor that shared our values, believed in and understood our mission, and aligned with our growth objectives. The market opportunity is there for us and our sponsor, and our solutions are well-positioned to meet our customers’ needs. With KKR’s support, we plan to continue to develop and deliver our enterprise-grade products to SMEs and accelerate the growth of the business.
KKR is a leading global investment firm with deep experience in software and technology. Given its understanding of our industry, ability to provide capital and operational expertise, KKR is well-positioned to help Barracuda reach its next level of success.
Our growth strategy is closely tied to the investments we make and our ability to accelerate those investments. We believe KKR’s strong industry and operational expertise will help us refine, optimize, and transform how we operate, both on the technology front and the go-to-market front. We also believe they will help us grow, both organically and via strategic acquisitions.
The journey ahead
At Barracuda, we have a deep focus around our customers and solutions. We are always using our resources and focusing our efforts to improve both our engagement with our customers and the efficacy of the products that we deliver to them in conjunction with our MSP and channel partners.
Anytime our strategy is focused on how we can do better for our customers, our partners gain as well. Like Barracuda, KKR understands and values the distribution channel.
There will be a great benefit to Barracuda’s employees as well. With KKR’s support, the company intends to implement a form of universal equity, so that every employee has a stake in the upside value they help create with Barracuda. Ownership has proven to increase employee engagement and motivation, which will further benefit our customers and partners.
I’m excited and honored to lead Barracuda as we move into this new chapter. I look forward to our continuing journey ahead with KKR and what we will be able to achieve together.
Hatem is president and CEO of Barracuda Networks. He joined Barracuda in 2016, bringing more than 25 years of experience building and delivering innovative products in enterprise software, cloud services, data center virtualization, software defined networking, and security. Hatem has deep technical and domain expertise in security, and strong customer and operational focus. Under his leadership, the team has successfully launched several offerings in Email, Network, Application Security, and integrated products. Hatem has been instrumental in the successful cloud transformation of Barracuda through his vision for Barracuda’s leading security solutions.