Cybersecurity unicorn Acronis to invest $50m in Vietnam

Acronis, a cybersecurity firm based in Singapore and Switzerland, plans to invest US$50 million in Vietnam over the next few years and open its local office alongside an R&D center by 2023.

Acronis founder and chief research officer Serg Bell (second from right) at the company’s Israel office opening in June 2021 / Photo credit: Acronis

Acronis founder and chief research officer Serg Bell last month made his first working trip in the country.

Bell told Tech in Asia that the company would focus on hiring not just engineers but also talent across verticals such as sales, marketing, data operations, and cybersecurity in Vietnam.

According to a press statement, the Vietnam office will work in close collaboration with the company’s R&D centers in Bulgaria and Singapore to develop “cutting-edge cyber protection solutions” for Acronis. The exact location of the company’s base in the country has not yet been determined, but it’s likely to be in Ho Chi Minh City.

Founded in 2003, Acronis specializes in backup, protection, disaster recovery, and enterprise file syncing and sharing solutions. It offers its products through 50,000 partners and service providers in over 150 countries and has raised more than US$400 million at a valuation of about US$2.5 billion.

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Bell says his firm typically invests in companies that “could reach US$100 million in global revenue in less than 10 years.” Priority is given to those in the cybersecurity, fintech, and deeptech spaces, as well as companies that develop software for education and science.