How Acronis Will—and Won’t—Put its Latest Funding Round to Work

Earlier this year, security vendor Acronis raised $250 million through a Series E funding round led by Wall Street titan BlackRock. That investment, which valued the company at $3.5 billion, followed earlier ones involving CVC Capital last year and Goldman Sachs in 2019.

According to CEO Patrick Pulvermueller (pictured) during a media briefing this week at the Acronis #CyberFit Summit in Miami, the bulk of that money will fuel accelerated research and development. Here are some other ways the company will spend its latest cash infusion, according to company leaders, plus a few ways it won’t.