CrowdStrike Closes $100 Million Financing Round Led by Google Capital
— Series C to further accelerate explosive growth; validates SaaS-based endpoint protection as the only path forward to address today’s pervasive cyber attacks —
Irvine, CA – July 13, 2015 – CrowdStrike Inc., provider of the first true Software-as-a Service (SaaS) based next-generation endpoint protection platform, today announced that the company has completed a $100 million Series C financing round, led by Google Capital. Rackspace (NASDAQ: RAX), a CrowdStrike customer, also participated in the round along with existing investors Accel and Warburg Pincus. This brings the company’s total funding raised to $156 million.
As the effectiveness of traditional antivirus and malware-centric security approaches continue to rapidly diminish, the CrowdStrike Falcon® platform solves this fundamental problem by enabling organizations to detect, prevent and respond to attacks, at any stage – even malware-free intrusions.
“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.”
CrowdStrike has more than tripled its growth of total billings and employees year-over-year, and significantly increased its core customer base. The strong financial performance of the company is driven by massive worldwide deployments of CrowdStrike Falcon® by global Fortune 500 companies.
CrowdStrike’s corporate growth and fast-yielding financial performance include:
- 550 percent Compounded Annual Growth Rate (CAGR) in Annual Recurring Revenue (ARR) for Falcon platform over the past three years
- 225 percent growth in Annual Contract Value (ACV) subscriptions, year-over-year
- 700 percent 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.
“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,” said George Kurtz, CrowdStrike’s co-founder and chief executive officer. “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.
“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.”
To learn more about the funding, read a blog post from George Kurtz, co-founder and chief executive officer of CrowdStrike: http://blog.crowdstrike.com/google-capital-bets-big-on-crowdstrike
CrowdStrike™ is a leading provider of next-generation endpoint protection, threat intelligence, and pre and post incident response services. CrowdStrike Falcon® is the first true Software-as-a- Service (SaaS) based platform for next-generation endpoint protection that detects, prevents, and responds to attacks, at any stage – even malware-free intrusions. Falcon’s patented lightweight endpoint sensor can be deployed to over 100,000 endpoints in hours providing visibility into billions of events in real-time.
CrowdStrike operates on a highly scalable subscription-based business model that allows customers the flexibility to use CrowdStrike-as-a-Service to multiply their security team’s effectiveness and expertise with 24/7 endpoint visibility, monitoring, and response.
You Don’t Have a Malware Problem. You Have an Adversary Problem.™
About Google Capital
Google Capital is a growth equity fund backed by Google (NASDAQ: GOOGL). Google Capital invests in companies that use technology to change the way people experience the world. Advised by Google technology and product leaders, the Google Capital team has the extensive operational and technical expertise to make smarter investments and help our portfolio companies succeed. Some of Google Capital’s investments to date include SurveyMonkey, Lending Club, Credit Karma, ZenPayroll and Glassdoor. (www.googlecapital.com)