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Telstra has taken up an investment in client company CrowdStrike, a US-based cybersecurity and cloud endpoint security provider, which has just completed a US100 million capital raising.
The telco - which leverages CrowdStrike’s endpoint security solution across Australia – has invested an undisclosed amount in the business through its investment arm, Telstra Ventures.
The Series D financing round was led by existing investor Accel and other CrowdStrike investors CapitalG - formerly Google Capital - Warburg Pincus, new investor March Capital Partners, and Telstra.
Mark Sherman, managing director of Telstra Ventures, said the company, as one of CrowdStrike’s first customers, has been “impressed by the innovation and effectiveness of the Falcon platform”.
{loadposition peter}“CrowdStrike has played an important role as part of Telstra’s security program. Also we have already successfully introduced CrowdStrike to some of our business customers and we are excited to strengthen our partnership through this investment.”
Completion of CrowdStrike’s latest funding round brings the company’s total funding raised to US$256 million with a market valuation of over US$1 billion.
Funds from the capital raise will be used to accelerate CrowdStrike’s global growth and help it meet what it says is the “spiking demand” for its Falcon platform, billed as the “new standard” for endpoint protection.
“I couldn’t be more pleased to deepen our relationships with existing investors and add another high-calibre firm like March Capital to our team,” said George Kurtz, CrowdStrike’s co-founder and chief executive officer.
“As we continue to drive our revolutionary platform to market, this substantial financial backing will allow us to expand engineering, sales, marketing, and operational resources to maintain our position as the industry leader in endpoint security and grow at an even faster rate.
“I can’t think of more powerful validation for our technology and vision than having our existing investors deciding to double down on their backing and being the only company in our industry that is funded by three customers.”
Gene Frantz, partner at CapitalG, said, “prior to investing in CrowdStrike, we evaluated the entire endpoint protection market and found CrowdStrike’s approach and technology to be absolutely best-in-class in offering an end-to-end platform, fully powered by the cloud, coupled with security services and threat intelligence for a complete approach to endpoint protection”.
“CrowdStrike brings forward a compelling combination of strategic vision, differentiated technology, and high product efficacy – all delivering long-term business value for customers and the company itself.”
