US-based cybersecurity software developer Zscaler has closed an oversubscribed $110m series B round following a $25m extension provided by Google Capital, the growth equity arm of internet company Google, Reuters reported yesterday.
Zscaler raised a first $85m tranche last month from data storage company EMC and Lightspeed Venture Partners. That portion was led by TPG Growth.
Founded in 2008, Zscaler produces technology to secure cloud applications. The company claims to have more than 5,000 clients, of which many use Google’s cloud offering.
Zscaler expects the series B round to be its last equity funding before it seeks an initial public offering. The company has, however, not revealed a timeframe for a flotation.
In 2012, Lightspeed Venture Partners contributed funds to an $38m series A round. The round was led by an unnamed investor that was reportedly EMC.