KnowBe4 surpasses expectations for Q2 earnings following release of new product
August 2, 2021 - Clearwater-based startup KnowBe4 Inc. (NASDAQ: KNBE), provider of the leading security awareness training and simulated phishing platform, has exceeded expectations for its Q2 earnings. KnowBe4 had a record annual recurring revenue (ARR) of $241 million and over 41,000 customers. "We are excited about the extremely positive response to the release of our newest product, Compliance Plus, which reaches an entirely new but adjacent market for us. This product allows us to leverage the automation and other advanced capabilities of our existing platform while tapping into a massive compliance market," KnowBe4 Founder and CEO Stu Sjouwerman said in a release. "We also continue to benefit from a regulatory environment that recognizes the growing threat of social engineering and look forward to capitalizing on the current environment to further our growth strategies." The company recently completed an initial public offering of its Class A common stock and issued and sold a total of 10.425 million shares of Class A common stock for net proceeds of $156 million.