Crowdstrike raises a massive $200 million in latest funding round
Endpoint protection company CrowdStrike has announced that it has executed a Series E financing round of over $200 million, led by General Atlantic, Accel and IVP, with participation from March Capital and CapitalG.
Following this round, the company says it has achieved a valuation of more than $3 billion.
Crowdstrike say the latest round of funding will enable it to accelerate global demand for its Falcon endpoint protection platform.
CrowdStrike co-founder and chief executive officer George Kurtz says, “CrowdStrike’s successful business trajectory is supported by our market performance and analyst validation. Customers have a lot of choices and they have chosen our technology because it delivers the most value in stopping breaches and flat out works.
“We are building the business to support massive sales volume and this round of funding will accelerate the growth of our operations, continued innovation, technology development, and geographic expansion.”
CrowdStrike reports that its business has doubled in the past year both with regards to revenue and headcount.
It says it now serves more than 16% of the Fortune 1000 companies and 20% of the Fortune 500 companies.
The company also reports that it has experienced 500% year-over-year growth in the number of $1 million or greater annual contract value (ACV) transactions, and a 167% year-over-year growth in the number of subscription customers.
Accel partner Sameer Gandhi says, “The team at Accel is thrilled to participate in another funding round with CrowdStrike, underscoring our confidence in the company’s compelling value proposition.
“It is clear from CrowdStrike’s explosive growth that they have separated from the pack of next-gen vendors and continue to take market share from the legacy antivirus vendors. They are the only true SasS platform company in the endpoint security market and we are happy to continue backing the industry leader in this high-growth market.”
This latest funding round follows the last ‘series D’ funding round in May last year, where the company raised $100 million with financing, led - again - by Accel, with participation from CapitalG (formerly Google capital), Warburg Pincus, March Capital Partners and Telstra.
At that stage, the company had $256 million worth of funding under its belt, with a valuation of more than $1 billion.