US-based cybersecurity technology producer Guardicore secured $60m yesterday in a series C round that included telecommunications firm Deutsche Telekom and conglomerate Access Industries.
The round was led by Qumra Capital and included Partech Ventures, Battery Ventures, 83North, TPG Growth and Greenfield Partners, while the corporates participated through their Deutsche Telekom Capital Partners (DTCP) and ClalTech vehicles respectively.
Guardicore provides security products that cover data centres and cloud software on behalf of a customer base made up of large and medium-sized businesses. It will use the cash to beef up its sales, marketing and customer service capabilities as it looks to maintain growth.
The company has now raised $108m in funding since 2013, including $35m in a series B round featuring Dell Technologies Capital and Cisco Investments, subsidiaries of computing technology producers Dell and Cisco, that closed in 2017.
TPG Growth, Greenfield Partners, Battery Ventures and 83North also participated in the series B round, the latter two as existing investors.
DTCP managing director Irit Kahan said: “Guardicore is led by an exceptionally strong team with deep tech know-how and has demonstrated consistent growth and momentum since inception. With wide-spread adoption of distributed and hybrid infrastructures, we need a new paradigm for enterprise security outside of classic perimeters.
“The company’s unique market positioning and attractive roster of customers across the US and Europe, including some of the largest Fortune 500 names, have validated the value and scale of Guardicore’s approach and strong capabilities.”
