CrowdStrike, a provider of Software-as-a-Service (SaaS)-based endpoint protection platform, completed a $100 million Series C financing round, led by Google Capital, the company said July 13.
Google Capital is a “growth equity fund” backed by Google [GOOG] that invests in emerging, long-term technology trends, the fund says.
One of the company’s customers, Rackspace [RAX], also participated in the round with private equity firms Accel and Warburg Pincus. These actions led the company’s total fundraising to be at $156 million, CrowdStrike said.
CrowdStrike’s premiere service is Falcon, a SaaS-based “platform for next-generation endpoint protection that detects, prevents, and responds to attacks, at any stage–even malware-free intrusions,” the company said.
“Rackspace was an early adopter of the CrowdStrike Falcon platform and we have seen first-hand the decisive advantage that CrowdStrike offers to proactively detect and prevent sophisticated attacks…CrowdStrike also will be a key component of an upcoming line of security offerings being launched at Rackspace this year,” Brian Kelly, chief security officer at Rackspace, said.
Google Capital was impressed by the company’s growth.
“We were blown away by CrowdStrike’s incredible growth and impressive customer adoption. 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,” Gene Frantz, partner at Google Capital, said in a statement.
“It’s extremely gratifying to bring in a high-caliber investor like Google Capital which shares our passion for innovation and sees the opportunity to completely transform the security industry, ” George Kurtz, co-founder and chief executive officer of CrowdStrike, said.
“As we continue to experience hyper-growth, this capital injection will help us firmly establish our SaaS-based endpoint protection platform as the leading solution to address today’s sophisticated attacks and will allow CrowdStrike to further accelerate our domestic and international expansion.”
The company highlighted it has more than tripled its growth of billings and employees year-over-year while increasing its customer base, including to global Fortune 500 companies.
According to CrowdStrike, the corporate growth and financial performance includes 550 percent Compounded Annual Growth Rate (CAGR) in Annual Recurring Revenue (ARR) for the Falcon platform over the last 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; and customers including three of the top 10 largest global companies by revenue, two of the top 10 credit card payment processors, five of the top 10 largest banks, and three of the top 10 oil and gas companies.