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.