Insight Partners Data Breach: Personal Data Stolen in January Hack

Data Breach Notification Issued by Insight Partners

Insight Partners, a prominent venture capital firm, has announced it will be notifying an undetermined number of individuals regarding a data security incident that occurred in January.

An updated statement released this week confirms the firm is preparing to inform those impacted on a continuous basis, starting “in the coming days.”

Scope of the Data Compromise

The compromised data encompasses personal details of both current and former Insight Partners employees.

Information pertaining to the firm’s limited partners – the investors who contribute capital to Insight’s venture funds – was also accessed. These investors’ identities are generally maintained as confidential.

Furthermore, data related to specific funds, management entities, and portfolio companies was stolen, including sensitive banking and tax information.

Acknowledgement of Data Exfiltration

This marks the first time Insight Partners has publicly stated that data was actually removed from its systems during the January cyberattack.

Initially, the company characterized the incident as a “sophisticated” social engineering attack, though supporting evidence for this assertion has not yet been presented.

The precise details surrounding the attack vector remain undisclosed.

Firm Profile and Recent Trends

A representative for Insight Partners could not be reached for immediate comment.

With over $90 billion in assets under management, Insight Partners ranks among the world’s largest investors in technology startups.

Notably, the firm has provided funding to leading cybersecurity companies, such as Wiz and Armis.

Growing Trend of Attacks on Venture Capital Firms

Insight Partners is not alone in experiencing a cyberattack; several venture capital firms have been targeted in recent years.

In 2021, Advanced Technology Ventures, a Silicon Valley-based firm, fell victim to a ransomware attack, resulting in the theft of data concerning its limited partners.

Here's a summary of the affected areas: