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CrowdStrike raises $200M as IPO mulling continues

CrowdStrike raises $200M as IPO mulling continues

Vendor offers cloud-delivered protection that allows companies to detect possible threats before a breach occurs.

CrowdStrike has raised US$200 million in its latest round of funding, putting the cloud-based cyber security company's valuation at more than US$3 billion.

Using artificial intelligence, CrowdStrike offers cloud-delivered protection that allows companies to detect possible threats before a breach occurs.

The series E round of financing was led by General Atlantic, Accel and IVP, with participation from existing investors CapitalG, an investment arm of Google parent company Alphabet, and March Capital, CrowdStrike said.

The latest round of funding comes as investors have been wary of many companies’ ability to advance their software to stay ahead of hackers and attacks.

In March, Reuters reported that Tenable, a cyber security software maker, was planning an initial public offering that could come as early as this fall.

That would make it one of the few venture capital-backed cyber security companies to pull off an IPO in recent years if it proceeds.

An IPO is "certainly an option we continue to evaluate," co-founder and CEO George Kurtz said in an interview with Reuters, adding that he has seen growing interest from public and institutional investors.

"We have to consider a lot of factors, including the overall market condition, but given the size and scale (of CrowdStrike), we will certainly be embraced by the public market."

In May, Kurtz told CNBC there is a possibility that a company such as Amazon or Google could ultimately be interested in his firm's cloud-delivered security capability.

(Reporting by Angela Moon; Editing by Chizu Nomiyama and Dan Grebler)


Tags CloudsecurityCrowdStrike

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