Czech Software Maker AVAST Raises $100 Million

The Czech antivirus software maker AVAST receives $100 million in private equity from Summit Partners, an investment firm. With this investment Summit Partners has acquired a minority stake in the Prague-based company.

AVAST has become a major player in the antivirus industry with its freemium model (it offers its antivirus software for free to individuals and only charges for commercial use). The company claims 1 out of every 5 computers is protected by its antivirus software.

AVAST is not the only Czech antivirus maker that has a global reach. Another big player coming from the Czech Republic is AVG with 68 million users of its software and backed by Intel Capital (to date the largest investment of Intel Capital in Central and Eastern Europe).