CrowdStrike, the US-based cybersecurity technology provider that has raised more than $480m from investors including corporates Alphabet, Telstra and RackSpace, has begun preparing an initial public offering, Reuters reported on Friday.
The company has hired investment bank Goldman Sachs Group for the IPO, which it aims to launch as early as the first half of 2019 according to people familiar with the matter, who told Reuters it will aim to increase the $3bn valuation at which it last raised money.
CrowdStrike’s artificial intelligence-equipped security software combines endpoint threat detection and response, antivirus and constantly running cyber threat intelligence and detection tools. It claims several of the world’s largest healthcare, energy and financial services firms as customers.
The $3bn valuation was secured in a $200m series E round in June 2018 that was co-led by General Atlantic, Accel and Institutional Venture Partners with backing from CapitalG, a subsidiary of internet and technology conglomerate Alphabet, and March Capital Partners.
CapitalG had led the company’s $100m series C round in 2015, back when it was still known as Google Capital, investing together with cloud hosting services provider Rackspace and existing backers Accel and Warburg Pincus.
The company subsequently closed a $125m series D round that included CapitalG, telecommunications firm Telstra, Warburg Pincus and March Capital Partners in October 2017.
