Cloudflare raises $150m in funding led by Franklin

Cloudflare, an internet performance and cybersecurity solution, has raised $150M in its funding round.

The capital injection was led by Franklin Templeton and brings the company’s total equity raised to $330m. Prior to this round, the company secured $110m in 2014 and its previous investors include New Enterprise Associates, Union Square Ventures, Venrock, Pelion Venture Partners, Greenspring Associates, CapitalG, Microsoft, Baidu, Qualcomm, and Fidelity.

These new funds will be used to support Cloudflare’s growth, product development and its expansion into new international markets.

Cloudflare runs one of the largest networks which powers over 10 trillion requests a month. The platform protects and accelerates internet application online without adding hardware, installing software or changing codes.

Its technology offers video streaming, performance tools, security and insights for organisations in a range of industries. Its online security can help organisations to mitigate DDOS attacks, prevent customer data breaches and stop malicious bot abuse.

As part of the deal, former Silicon Graphics CFO Stan Meresman and former founder and co-chair of Nike Foundation Maria Eitel, have joined the Cloudflare board of directors.

Meresman said, “Cloudflare’s technologies, customer base, and global network have helped propel the company to a position of leadership in the Internet ecosystem. I look forward to lending my skills and expertise to Cloudflare’s board in order to continue this growth and make even more of an impact.”

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