KnowBe4, Inc. Due Diligence

Run due diligence on KnowBe4, Inc.: check compliance and get alerts when suppliers or ownership change.

United States · owned by Vista Equity Partners (United States) · www.knowbe4.com · 19 vendors

KnowBe4 is a cybersecurity platform specializing in security awareness training, simulated phishing attacks, and human risk management. The company helps organizations train employees to recognize and respond to cyber threats such as phishing, ransomware, and social engineering. It is trusted by tens of thousands of organizations worldwide and was taken private by Vista Equity Partners in 2023.

Resilience scores

Digital Sovereignty: 95
Digital Resilience: 8
Financial Resilience: 7

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Services catalogue

8 services in catalogue across 4 categories; runs on 19 sub-vendors.

Site Verification
Phishing Security Module
Phishing Simulation

Insights

Last updated 2026-08-15 · revision 9

19 direct vendors, 217 subvendors

Direct vendors by controlling owner country (sample)

United States: 18
Australia: 1

Subvendors by controlling owner country (sample)

Spain: 1
Finland: 1
Poland: 2

Compliance

13 in-scope frameworks identified; showing 3.

Financials

Three-year financials

2022: revenue $334.9M
2021: revenue $238.2M
2020: revenue $166.4M

Financial Resilience Score: 7/10

KnowBe4 demonstrated strong financial resilience during its public tenure (April 2021 - February 2023), with consistent revenue growth exceeding 40% year-over-year. The company operated in the security awareness training and simulated phishing market, a sector with strong secular tailwinds driven by escalating cybersecurity threats and regulatory compliance requirements. Its SaaS-based subscription model provided predictable, recurring revenue streams that supported resilience. The February 2023 take-private transaction by Vista Equity Partners at $4.6 billion validated the company's underlying business value and long-term prospects. Vista's history of acquiring high-quality software businesses suggests KnowBe4 had strong unit economics, high gross margins typical of SaaS companies, and durable customer retention. However, like many high-growth SaaS companies during this period, KnowBe4 was not consistently profitable on a GAAP basis, relying on continued growth investments. As a private company since February 2023, transparency into current financial performance is limited, introducing uncertainty. The company likely carries additional leverage post-buyout, which is typical of private equity-owned companies and could constrain flexibility. Nevertheless, its market-leading position in security awareness training and strong recurring revenue base support a resilience score of 7.

Key strengths: Strong recurring SaaS revenue model, Consistent 40%+ revenue growth pre-buyout, Market-leading position in security awareness training, Backed by Vista Equity Partners (strong financial sponsor), Secular tailwinds from rising cybersecurity threats

Risk factors: Limited financial disclosure since going private in Feb 2023, Likely elevated leverage from LBO transaction, Historical GAAP unprofitability during high-growth phase, Competitive market with well-funded rivals (Proofpoint, Mimecast)

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