Google Capital, the growth equity subsidiary of diversified internet company Google, led a $100m series C round for US-based cybersecurity company CrowdStrike today.
The round also included cloud hosting service provider Rackspace, which is also one of CrowdStrike’s customers, as well as venture capital firm Accel Partners and private equity firm Warburg Pincus.
CrowdStrike’s Falcon software-as-a-service (SaaS) features endpoint protection, threat intelligence, and pre and post-incident response services. The company claims it has more than tripled year-on-year growth in both its headcount and total billings.
Google Capital partner Gene Frantz said: “We were blown away by CrowdStrike’s incredible growth and impressive customer adoption.
“They have a truly unique SaaS-based endpoint security model, a highly scalable subscription revenue model, and a visionary technical approach that has huge potential to transform the industry, which is why we are thrilled to make this investment.”
Brian Kelly, chief security officer at Rackspace, added: “Unlike other endpoint security tools, CrowdStrike’s scalable cloud-based architecture provides unrivalled visibility and enables significantly faster response time to cyber threats. CrowdStrike also will be a key component of an upcoming line of security offerings being launched at Rackspace this year.”
The round boosted CrowdStrike’s overall funding to $156m since it was founded in 2011. Warburg Pincus provided the company with $26m of series A funding up to 2012 before taking part in a $30m Accel-led series B the following year.