Google Invests Millions in Cybersecurity Firm CrowdStrike
CrowdStrike, a cybersecurity firm, has received $100 million in Series C funding from Google Capital, Web-hosting services firm Rackspace, Accel Partners and Warburg Pincus.
IRVINE, Calif. – Cybersecurity company CrowdStrike has a received a “multimillion-dollar” investment from led by Google Capital.
In addition to Google, the $100 million Series C funding came from Rackspace, a web-hosting services company and a CrowdStrike client. Also participating in the round were existing investors Accel Partners and Warburg Pincus, The New York Times reports.
CrowdStrike offers a software-as-a-service (SaaS)-based endpoint protection platform, which allows end users stop attacks before they happen, according to the company. For example, while some more traditional systems work toward identifying incidents after they happen, CrowdStrike is more focused on identifying weak points and on picking up on signs that an intrusion is happening – even if the assault is not using malware, company co-founder and chief executive George Kurtz says.
Kurtz claims that a major bank that he did not name, installed CrowdStrike’s Falcon platform quickly and seamlessly on 77,000 computers without rebooting. Kurtz said other traditional systems would have taken hours to do the same thing.
The company claims that global deployments of the Falcon platform have fueled the growth of its total billings and employees, which have tripled year-over-year, while also increasing its customer base.
“We were blown away by CrowdStrike’s incredible growth and impressive customer adoption,” says Gene Frantz, partner at Google Capital. “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.”
The investment in CrowdStrike is just the latest SaaS service Google has shown financial interest in, PYMNTS.com reports. Google Ventures recently led an $11.5 million funding round with SoftBank Capital to accelerate the growth of London-based Yieldify’s predictive marketing technology.
The SaaS company equips digital marketers with technology to predict the intentions of visitors across all devices, allowing brands to adapt accordingly by creating personalized campaigns quickly and effectively.
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