Activist Jana Partners Ups Stake in Software Provider Rapid7

Jana Partners has increased its stake in Rapid7 Inc. as it continues to push the cybersecurity software provider to pursue a sale.

The activist investor revealed a 13% economic voting interest in Boston-based Rapid7’s outstanding shares in a filing on Friday. Jana’s filing was made jointly with private investors Chad Kinzelberg, Michael Joseph Burns and Robert Bradshaw Henske.

Shares in Rapid7 have fallen almost 19% in New York trading over the last 12 months, giving company a market value of about $2.3 billion. Jana revealed a 4.3% position in Rapid7 earlier this year.

In June, the activist’s managing partner ...