CrowdStrike announces Series E financing
CrowdStrike announced that the company has executed a financing round of over $200 million, led by General Atlantic, Accel and IVP, with participation from March Capital and CapitalG. Following this round, the company has achieved a valuation of more than $3 billion.
This round of financing will help CrowdStrike continue to accelerate the global demand for the CrowdStrike Falcon platform, the new standard for endpoint protection. CrowdStrike is demonstrating that its cloud-based approach is the future of endpoint security.
Earlier this year, Gartner positioned CrowdStrike the highest in ability to execute and furthest in completeness of vision in the Visionaries Quadrant of the 2018 Gartner Magic Quadrant for Endpoint Protection Platforms (EPP).
According to Gartner, “desirable EPP solutions are primarily cloud-managed, allowing the continuous monitoring and collection of activity data, along with the ability to take remote remediation actions, whether the endpoint is on the corporate network or outside of the office.”
In addition, CrowdStrike’s business doubled in the past year both with regards to revenue and headcount, serving more than 16 percent of the Fortune 1000 companies and 20 percent of the Fortune 500 companies.
Other growth points underscoring the company’s business traction include:
- 500 percent year-over-year growth in the number of $1 million or greater annual contract value (ACV) transactions
- 167 percent year-over-year growth in the number of subscription customers
- 172 percent year-over-year growth in new subscription bookings ACV
- 140 percent year-over-year growth in annual recurring revenue.
As CrowdStrike continues to rapidly scale the CrowdStrike Falcon platform, the company leverages unparalleled threat telemetry and visibility into the global threat landscape. Powered by industry-leading AI, CrowdStrike processes over 100 billion security events a day to stop all attack types, including never-before-seen cyber threats.
CrowdStrike’s AI engine is able to make more than 2.3 million decisions each second, significantly advancing real-time threat protection with speed and accuracy.
Leveraging the advantages of a cloud-based infrastructure, CrowdStrike is the security company that offers a free trial of its antivirus replacement solution, CrowdStrike Falcon Prevent, enabling immediate deployments at any time, anywhere. Recently, CrowdStrike announced a warranty of up to $1 million for its EPP Complete solution.
“CrowdStrike’s unique cloud-based approach positions them as a leading SaaS player in the endpoint security market, leveraging their platform to deliver on the full disruptive potential of the cloud, combined with a recurring subscription revenue model. These are critical advantages for an endpoint security company, and we fully believe in CrowdStrike’s ability to excel in the endpoint security space,” said David George of General Atlantic.
“The team at Accel is thrilled to participate in another funding round with CrowdStrike, underscoring our confidence in the company’s compelling value proposition,” said Sameer Gandhi, partner at Accel. “It is clear from CrowdStrike’s explosive growth that they have separated from the pack of next-gen vendors and continue to take market share from the legacy antivirus vendors. They are the only true SasS platform company in the endpoint security market and we are happy to continue backing the industry leader in this high-growth market.”
“CrowdStrike’s successful business trajectory is supported by our market performance and analyst validation. Customers have a lot of choices and they have chosen our technology because it delivers the most value in stopping breaches and flat out works. We are building the business to support massive sales volume and this round of funding will accelerate the growth of our operations, continued innovation, technology development, and geographic expansion,” said George Kurtz, co-founder and chief executive officer of CrowdStrike.