A startup Liberty Strategic Capital, that is into the business of private equity fund, has announced that it has invested $525 million in a Cybersecurity firm, ZIMPERIUM.
Sources reporting to Cybersecurity Insiders state that Steven Mnuchin, the former treasurer of United States, found the financial business. And he will now become the chairperson to Zimperium’s board of directors.
Interestingly, the investment is the first enormous deal made by the firm since its launch last year. After it stage funded other security firms named Cybereason and BlueVoyant at the end of 2021.
Trade analysts say that the investment will give an upper hand to the Washington DC based firm as it might be in a thinking of taking up security business seriously in coming months.
Thus, with the latest investment, Liberty Strategic Capital has turned into a major stakeholder in Zimperium, throwing SoftBank’s investment to second position and giving it a tag of a minority owner from now on.
Dallas based Zimperium was witnessing a growth in the adoption of security solutions in the enterprise world- all thanks to the Pandemic driven WFH culture, as it witnessed a 53% growth in revenue last year. It says that the new investment will bolster its stand in the business of Cybersecurity.