In cyber security business news, CrowdStrike has received a $100M investment from Google Capital along with an investment from Rackspace and a few other partners for a total of $156M in Series C funding:
Cybersecurity company CrowdStrike announced the completion of a $100 million Series C funding round yesterday (July 13), led by Google Capital. Rackspace also participated in the round, along with existing investors Accel and Warburg Pincus, bringing the company’s total funding raised to $156 million.
CrowdStrike specializes in offering a Software-as-a Service (SaaS) based endpoint protection platform, which allows organizations to detect, prevent and respond to attacks at any stage.
“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,” said George Kurtz, CrowdStrike’s co-founder and CEO, in a company release.
“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, ” Kurtz added.
With the diminishing success of traditional antivirus and malware security approaches, CrowdStrike sets itself apart by focusing on endpoint protection as the primary way to curb cyber attacks, the company statement explained.
According to CrowdStrike, global deployments of its Falcon platform have fueled the growth of its total billings and employees, which have tripled year-over-year, while also increasing its customer base.
Traditional anti-virus on the desktop is not dead; it is useful to a certain extent but endpoints, like networks, require a layered defense-in-depth posture. Couple anti-virus with a host-intrusion prevention system, application whitelisting, and a desktop-oriented sandboxing technology and you have a recipe for success.