CrowdStrike has completed a $100 million Series C financing round, led by Google Capital.
This brings the company’s total funding raised to $156 million.
The CrowdStrike Falcon platform aims to help organizations to detect, prevent and respond to attacks, including malware-free intrusions.
“Our cloud-based Falcon Platform was designed from the beginning to detect advanced malware and adversary activity, prevent zero day exploitation, and dramatically reduce time to remediation during incident response by allowing effortless real-time and historical searches of hundreds of thousands of systems,” George Kurtz, CrowdStrike’s co-founder and CEO, said in a blog.
The company will use the funding to expand globally to maintain sales momentum.
“As we continue to experience hyper-growth, this capital injection will help us firmly establish our SaaS-based endpoint protection platform as the leading solution to address today’s sophisticated attacks and will allow CrowdStrike to further accelerate our domestic and international expansion,” said Kurtz.
CrowdStrike has more than tripled its growth of total billings and employees year-over-year, and has seen a staggering 550% CAGR in annual recurring revenue (ARR) for the Falcon platform over the past three years. It has also logged a 225% growth in annual contract value (ACV) subscriptions, year-over-year, and a 700% increase in the number of $1 million or greater transactions, year-over-year.
CrowdStrike customers include three out of the top 10 largest global companies by revenue, two out of the top 10 credit card payment processors, five out of the top 10 largest banks, and three out of the top 10 oil and gas companies, as well as some of the world's top technology companies.
"We were blown away by CrowdStrike's incredible growth and impressive customer adoption,” said Gene Frantz, partner at Google Capital. "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're thrilled to make this investment."
Added Kurtz, “It’s extremely gratifying to bring in a high-caliber investor like Google Capital which shares our passion for innovation and sees the opportunity to completely transform the security industry.”
Rackspace, a CrowdStrike customer, also participated in the round, along with existing investors Accel and Warburg Pincus.
“Rackspace was an early adopter of the CrowdStrike Falcon platform and we have seen first-hand the decisive advantage that CrowdStrike offers to proactively detect and prevent sophisticated attacks,” said Brian Kelly, chief security officer at Rackspace. “Unlike other endpoint security tools, CrowdStrike’s scalable cloud-based architecture provides unrivaled 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.”