CrowdStrike offers a hosted endpoint security platform that uses behavior-based analysis to detect potential cyber threats. Its technology has seen broad adoption, with contracts covering more than 16% of the Fortune 1000 and 20% of the Fortune 500. The company reports its software processes over 100 billion security events per day and that its automated threat-detection service makes 2.3 million decisions each second. CrowdStrike says it has doubled revenues and headcount recently and markets a $1 million warranty on its EPP Complete solution. The company raised a new $200 million financing at a valuation above $3 billion while contemplating an IPO. General Atlantic, Accel, and IVP co-led the round, and prior investors March Capital and CapitalG participated. The article notes the security market is intensely competitive, with peers like Cylance and Carbon Black also raising hundreds of millions. CrowdStrike develops the CrowdStrike Falcon platform, a cloud-based next-generation endpoint protection solution that runs AI/ML in the cloud and on endpoints to prevent malware and malware-free attacks. Falcon deploys in minutes, provides real-time protection, and aggregates a large threat database—processing 40 billion security events a day with endpoint deployments in 176 countries. The company reports strong commercial traction, including 476% growth in new EPP subscriptions year-over-year, 382% growth in EPP subscriptions for Fortune 500 customers, 400% growth in $1M+ transactions, and 253% growth in sensors deployed. More than 10% of the Fortune 1000 use CrowdStrike's technology. CrowdStrike says it will use new funding to accelerate global growth and expand engineering, sales, marketing, and operational resources to meet rising demand and expand its domestic and international presence. Following the round, total funding raised is $256 million and the company has a valuation of over $1 billion. CrowdStrike's core product is Falcon, a cloud-based endpoint protection platform delivered as SaaS that aims to secure devices in mobile and cloud environments. The company says Falcon differentiates by protecting even when attacks are not delivered via malware. Because Falcon is provided as a cloud service, CrowdStrike argues the product cannot be purchased and reverse-engineered like traditional security hardware. CrowdStrike reported rapid growth metrics, including a 550% CAGR in ARR over the past three years, 225% year-over-year growth in ACV subscriptions, and a 700% year-over-year increase in transactions worth $1M or more. The company was launched by former McAfee executives in 2011. Management said the new capital will help expand sales, customer support, marketing and research and development as the company scales. CrowdStrike builds the Falcon platform to monitor a company’s data and detect zero-day threats and targeted attacks. The platform identifies malware and learns attributes of attackers to develop responses that raise the cost and risk to adversaries. CrowdStrike uses sophisticated data analytics to create what the article describes as invisible data meshes that detect unusual network loads and other anomalies. The company shares information and analysis with security experts around the world and collects reports on the latest security issues. CrowdStrike was founded by former McAfee CTO George Kurtz and Dmitri Alperovitch, formerly VP of advanced threat research at McAfee. It recently completed a new financing to support its product and operations. CrowdStrike was launched by former McAfee CTO George Kurtz and is operating in stealth mode. The company says it will use big-data mining to help enterprises and governments protect their most sensitive intellectual property and national-security information. Details about the product, go-to-market, and operations remain minimal in the announcement. CrowdStrike was co-founded by George Kurtz, Dmitri Alperovitch, and Gregg Marston. The company disclosed a $26 million Series A investment from Warburg Pincus, and Kurtz had been an entrepreneur-in-residence at that firm. The announcement indicates more information will be released later.

Total raised

$456M

Funding rounds

5

Latest round

Series E

Latest activity

Jun 2018