Tanium has raised $200m in an investment round that values the cybersecurity start-up at $6.5bn.
The funding was led by Wellington Management, with Baillie Gifford & Company and Adage Capital Management also participating. It comes less than five months after it raised $175m at a $5bn valuation.
Since launching in 2007, Tanium has previously attracted investments from Andreessen Horowitz. Private equity firm TPG and Citi Ventures, Citibank’s venture capital arm, and Franklin Templeton Investments, among others.
With new capital onboard, the company plans to help early investors and employees cash out rather than wait for an initial public offering, which was rumoured to be on the cards.
“We introduced our technology to the world five years ago, and in that time, we have grown to be over 800 team members strong and helped hundreds of the world’s largest enterprises – including over half of the Fortune 100 – achieve stronger business resilience,” said Tanium CEO and Co-Founder Orion Hindawi.
“We are thrilled to have such a strong set of investors support the Tanium vision of transforming the way industry-leading companies are able to manage and secure their networks against ever-advancing technology-based disruptions.”
Headquartered in Emeryville, California, Tanium is a security and systems management solution that allows real-time data collection at enterprise scale.The Tanium platform enables business resilience to ensure the technology can adapt to disruption. Many of the world’s largest and most sophisticated enterprises including most of the top retailers and financial institutions, and the United States Armed Forces rely on Tanium for business resilience.
As of January 31, 2018 (fiscal year end 2017), Tanium had approximately $320 million in cash and equivalents, and positive operating cash flow of $25 million, despite continued and aggressive investments in expansion. Billings grew to more than $270 million, or well over 60 percent, while Annual Recurring Revenue of approximately $230 million was up over 80 percent from the prior year.
“Tanium is an extraordinary platform, providing IT security and management at scale for some of the world’s most successful companies,” said Peter Singlehurst, head of the unlisted equities team at Baillie Gifford. “As long-term investors, we look forward to supporting Tanium’s management team over the
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