CrowdStrike, an AI-powered cybersecurity platform, is now valued at more than $3bn after closing a $200m Series E round.
The funding round was co-led by Accel, General Atlantic, and IV, with participation from March Capital and CapitalG. Prior to now, CrowdStrike had raised around $281m, including a $100m round last year that handed the company at a valuation of more than $1bn.
Founded in 2011, Sunnyvale, California-based CrowdStrike claims to the leader in cloud-delivered endpoint protection which detects possible threats before a breach occurs.
Leveraging artificial intelligence (AI), the CrowdStrike Falcon platform offers visibility and protection across the enterprise and prevents attacks on endpoints on or off the network.
Falcon protects customers against all cyber attack types, using sophisticated signatureless AI and Indicator-of-Attack (IOA) based threat prevention to stop known and unknown threats in real time. With new money onboard, CrowdStrike said it will continue to accelerate the global demand for the CrowdStrike Falcon platform.
“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,” said George Kurtz, co-founder and chief executive officer of CrowdStrike.
“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.”
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. The company also achieved 500 percent year-over-year growth in the number of $1m or greater annual contract value (ACV) transactions
It saw a 167 percent year-over-year growth in the number of subscription customers, a 172 percent year-over-year growth in new subscription bookings ACV, and 140 percent year-over-year growth in annual recurring revenue.
Total investment in Q1 2018 reached just $725.8m, a fall of 47.7% from the previous quarter. However, compared to the same quarter in 2017, total funding increased by 27%. The drop in investment in Q1 2018 can be attributed to a lack of later-stage deals valued above $100m. 
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
