Acronis, a Switzerland-headquartered cybersecurity and data protection provider, has raised $250 million in its new funding round, at over $3.5 billion valuation.

  • The fund will be invested in growing its sales and market teams, making acquisitions, and supporting ecosystem partners, the firm claims.
  • Acronis is a cloud platform that enables managed services providers (IT firms) to protect customers' information technology systems and back up business data to ensure its availability in case of an outage.
  • The cybersecurity firm offers Cyber Protect Cloud that gives features to detect malware in corporate networks and tools for protecting data from outages. Its software is used by 750,000 businesses and 5.5 million consumers globally.
  • Unnamed institutional investors led the round with participation from BlackRock.