Wombat provides cloud-based cybersecurity awareness training designed to improve enterprise IT security through employee behavior.
Cyber threat actors often target enterprise employees as the weakest link. Wombat enables companies to protect themselves from people-centric attacks through real-time phishing simulation and cybersecurity awareness training. The company’s comprehensive platform protects corporate email, personal email, SaaS applications, mobile devices, and other forms of communication.
Consolidate A Rapidly Growing But Fragmented Market
Wombat was an early entrant in the nascent security awareness training market. We saw an opportunity to consolidate the market to establish definitive category leadership.
Build Category and Company Awareness
Security awareness saw explosive growth over our hold period. Wombat had the opportunity to create and define the category with customers, analysts, and strategic buyers.
Build Infrastructure to Support Global Scaling
Wombat needed to build its financial infrastructure to support M&A initiatives and global expansion.
Level partnered with Wombat to create and define the nascent but explosively growing security awareness training market. Wombat’s leadership status was cemented when Gartner placed the company as the top-right vendor in its Leaders quadrant in 2017. We helped Wombat to source, finance, and execute the acquisition of Threatsim, a complementary training vendor growing >100%.
We also helped to hire an experienced SaaS CFO who was instrumental in our M&A efforts and scaling the company’s global infrastructure. We guided the company through an 18-month IP litigation with its closest competitor, and helped the company navigate the ultimate exit process which culminated in the sale to publicly-traded strategic acquirer, Proofpoint, for $225 million.
Level Equity Invests $5M in Wombat
Level Equity leads a $5 million growth investment in Wombat to support its rapid scaling.
Mike Borton Joins Wombat As CFO
Mike Borton becomes CFO of Wombat following several successful SaaS software exits including LogiXML and Consol Risk Management.
Wombat Acquires Threatsim With Additional Level Equity Financing
Wombat acquires Threatsim to advance its simulated phishing portfolio, with Level Equity providing additional follow-on equity to support the acquisition.
Proofpoint Announces the Acquisition of Wombat
Wombat is acquired by publicly-traded strategic buyer Proofpoint for $225 million in cash.
“Level is a great partner because they’re excited to help and highly capable of doing so, but also happy to give you space to execute as a CEO. There’s a reason I chose to work with Level in back-to-back companies: they amplify success but with a low-ego, partnership approach.”