US-based cybersecurity software provider Sysdig secured $188m yesterday in a series F round featuring Next47, a corporate venturing vehicle for industrial technology and appliance manufacturer Siemens.
Multi-family office PremjiInvest and venture capital firm Third Point Ventures co-led the round, which included Bain Capital Ventures, the VC arm of private equity firm Bain Capital, as well as investment bank Goldman Sachs, Accel, DFJ Growth, Glynn Capital and Insight Partners.
Founded in 2013, Sysdig provides a software tool that helps cloud operators run their services securely, preventing and responding to threats and vulnerabilities in a timely manner.
This funding will go to improving the company’s technology and hiring staff for research and development groups across its home country and locations including Italy, Serbia and Spain. It will also expand its sales and marketing capabilities in Australia, Europe, Japan, the United States and new Asia-Pacific markets.
The cash was raised at a $1.19bn valuation and lifted the company’s total funding to $394m. Goldman Sachs had taken part in its $70m series E round, in January 2020, which was led by Insight Partners and backed by Accel, Bain Capital Ventures and Glynn Capital.
Insight Partners had also led a $68.5m series D round for Sysdig in 2018 that also featured Bain Capital Ventures and Accel, after the latter’s Accel Growth Fund injected $25m in series C funding the year before.
Accel and Bain Capital Ventures had previously backed a $10.7m series A round for the company in 2015 and a $15m series B the following year. It was incubated with $2.3m in seed funding from Bain Capital Ventures.
