CrowdStrike Closes $30 Million in Series B Financing, Led by Accel Partners
Investment to Fuel Growth and Innovation in Next Generation Threat Protection Market
Irvine, Calif. - September 9, 2013 - CrowdStrike, a global provider of security technologies and services focused on identifying advanced threats and targeted attacks, today announced that it has raised $30 million in Series B financing. The round was led by Accel Partners and included founding investor Warburg Pincus. Sameer Gandhi, Partner, Accel Partners, will join the board of directors. CrowdStrike will use the financing to further drive innovation in big data analytics and security intelligence and support an aggressive go-to-market strategy in the next-generation threat protection space.
“The completion of our funding is perfectly timed to meet growing demand for targeted attack detection, prevention, and monitoring,” says George Kurtz, President/CEO & Co-Founder of CrowdStrike. “Accel Partners has a thorough understanding of the big data sector and has displayed continued commitment to the market with their big data fund. We’re looking forward to deep collaboration with Accel Partners and Warburg Pincus as we work together to combat the proliferation of advanced attacks and increasingly sophisticated cyber threats.”
Using big data technologies, CrowdStrike’s cloud-based next-generation threat protection platform leverages execution profiling and predictive security analytics. The fusion of big data and security intelligence allows companies to not only proactively respond to advanced threats, but also to hunt, query, and gain insight into all activity across the enterprise. CrowdStrike’s Global Intelligence Team currently tracks 40+ actors around the world, including state-sponsored adversaries originating from China, Russia, Iran, North Korea, Pakistan, and India; and infuses this intelligence in its technology solutions.
The company recently introduced the CrowdStrike Falcon Platform which enables enterprises to identify unknown malware, detect zero-day threats, pinpoint advanced adversaries and attribution, and prevent damage from targeted attacks in real-time. The core of the Falcon Platform is a global network of host-based detection sensors driven by world-class cyber threat intelligence to provide rapid/instantaneous detection and prevention capabilities to enterprises and governments worldwide.
“CrowdStrike’s impressive executive team has taken an extremely sophisticated data driven approach to identifying and protecting some of the most important industry leaders within finance, healthcare, telecom, energy, media and government,” said Sameer Gandhi, Partner, Accel Partners. “CrowdStrike stands alone and has effectively and rapidly scaled its business to help defend against what we know to be persistent and highly targeted cyber attacks.”
“CrowdStrike has seen phenomenal growth over the last two years and has executed on an innovative approach to solving the targeted attack and advanced threat problem that enterprises are facing today,” says Joseph P. Landy, Co-President, Warburg Pincus. “With an experienced leadership team at its helm and top talent companywide, CrowdStrike is well positioned to continue disrupting the market and providing customers with a truly unique solution.”
CrowdStrike's approach and execution has gained significant traction and momentum among discerning enterprise and government customers globally, with bookings currently growing approximately 250 percent over the prior six months. The growing demand for next-generation threat protection solutions is underscored by the rise in targeted attacks attributed to advanced adversary groups.
CrowdStrike is a global provider of security technology and services focused on identifying advanced threats and targeted attacks. The company was co-founded in 2011 by George Kurtz, former founder and CEO of Foundstone and Worldwide CTO and GM at McAfee / Intel (NASDAQ: INTC), Dmitri Alperovitch, former VP Threat Research at McAfee / Intel, and Gregg Marston, former CFO at Networks in Motion. Gerhard Watzinger, CEO of iGATE (NASDAQ: IGTE) and former EVP of Corporate Strategy at McAfee, is Chairman of the Board. Recognizing both innovation and cutting-edge technological approach, MIT Tech Review named CrowdStrike to it’s list of 50 Most Disruptive Companies for 2013 and Dmitri Alperovitch, its CTO and Co-Founder, to its Top 35 Innovators Under 35 list for 2013.
You Don’t Have a Malware Problem. You Have an Adversary Problem.
www.crowdstrike.com | @CrowdStrike
About Accel Partners
Founded in 1983, and managing over $9.6 billion in capital, Accel Partners has a long history of partnering with outstanding entrepreneurs and management teams to build world-class businesses. Accel today invests globally using dedicated teams and market-specific strategies for local geographies, with offices in Palo Alto, California, New York City, London, and Bangalore, as well as in China via its partnership with IDG-Accel.
Accel has helped entrepreneurs build over 300 successful technology companies, many of which have defined their categories, including 99designs, Actuate, AdMob, Agile Software, AirWatch, Alfresco, Angry Birds (Rovio), Atlassian, BBN, Bonobos, Braintree, Brightcove, Cloudera, ComScore, Diapers.com (Quidsi), Dropbox, Etsy, Exclusively.in, Facebook, Flipkart, Fusion-IO, Gameforge, GlamMedia, Groupon, HasOffers, Imperva, Infinera, Interwoven, IronPlanet, JBoss, Kayak, Lookout, Macromedia, metroPCS, MoPub, Myntra, Opower, Polycom/PictureTel, Playfish, Portal Software, QlikTech, Rapt, Real Networks, Redback, Responsys, Riverbed, Spotify, Squarespace, SunRun, Trulia, UUNet, Veritas, Walmart.com, Webroot, Wonga, XenSource and Zimbra.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $35 billion in assets under management. The firm’s active portfolio of more than 125 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds which have invested more than $45 billion in over 675 companies in more than 35 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg, Mumbai, Port Louis, San Francisco, São Paulo and Shanghai.
For more information please visit www.warburgpincus.com.