US-based cloud cybersecurity software provider CrowdStrike closed a $100m series D round yesterday that included telecommunications company Telstra and CapitalG, the growth equity arm of internet and technology group Alphabet.
CapitalG, formerly known as Google Capital, was joined by venture capital firm Accel, which led the round, as well as private equity firm Warburg Pincus and VC firm March Capital Partners. The round valued CrowdStrike at more than $1bn.
CrowdStrike’s Falcon platform uses artificial intelligence and machine learning algorithms in order to give enterprise users visibility across their network while preventing endpoint cyberattacks in real time. It will use the funding to support international growth.
The company has now raised $256m altogether, CapitalG having led its last round, a $100m series C that closed in mid-2015 that included existing backers Accel and Warburg Pincus, and cloud hosting service provider Rackspace, which like Telstra, is one of CrowdStrike’s customers.
Capital G partner Gene Frantz: “Prior to investing in CrowdStrike, we evaluated the entire endpoint protection market and found CrowdStrike’s approach and technology to be absolutely best-in-class in offering an end-to-end platform, fully powered by the cloud, coupled with security services and threat intelligence for a complete approach to endpoint protection.
“CrowdStrike brings forward a compelling combination of strategic vision, differentiated technology, and high product efficacy – all delivering long-term business value for customers and the company itself.”
Mark Sherman, managing director of Telstra’s corporate venturing arm, Telstra Ventures, added: “As one of CrowdStrike’s first customers, we have been impressed by the innovation and effectiveness of the Falcon platform.
“CrowdStrike has played an important role as part of Telstra’s security program. Also we have already successfully introduced CrowdStrike to some of our business customers and we are excited to strengthen our partnership through this investment.”