BlackRock-Backed Round Values Cyber Firm Acronis at $3.5 Billion

Cybersecurity provider Acronis raised $250 million in new funding from institutional investors earlier this year to expand its business, including through acquisitions and hiring.

The fresh investment valued the company at more than $3.5 billion, an Acronis representative said in a statement. BlackRock Inc. was among those to participate in the deal, according to people familiar with the matter, who asked not to be identified discussing confidential information.

A spokesperson for BlackRock declined to comment.

Acronis was last valued at $2.5 billion in May 2021 after receiving a $250 million investment from CVC Capital Partners VII and others. It’s also ...