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CrowdStrike Endpoint Protection Raises $100M, Targets MSSPs

CrowdStrike, a California company that promotes cloud-based endpoint protection to MSPs, has closed a $100 million Series D financing round. To date, CrowdStrike has raised $256 million in funding and has a valuation of over $1 billion, the company said.

CrowdStrike, which launched in 2011, offers endpoint security services and technology to help organizations gain “actionable intelligence and real-time protection from day one,” the company claims.  MSPs and SOC (security operations center) providers can leverage CrowdStrike’s flagship Falcon Breach Prevention Platform to help their global customers stop breaches, the company claims.

CrowdStrike Growth: By the Numbers

The company, led by CEO George Kurtz, has been in growth mode. Among the milestones worth noting:

  • More than 10 percent of the Fortune 1000 companies currently leverage CrowdStrike.
  • Three of the 10 largest global companies by revenue, five of the 10 largest financial institutions, three of the top 10 health care providers, and three of the top 10 energy companies leverage CrowdStrike.
  • The company has recently expanded into EMEA, APAC and Latin America.
  • Over the past three years through December 2016, the company grew 2,665 percent — though actual revenue figures haven’t been disclosed.
  • The company in 2016 had had “triple-digit growth” in deals valued at $1 million or more.

CrowdStrike works with MSPs — but also is an MSSP in some respects. The company’s 24×7 “managed hunting” service combines signatureless machine learning and advanced behavior-based analytics, CrowdStrike claims.

Demand for the company’s software-driven cloud services should remain string. The global endpoint security solutions market will expand at a compound annual growth rate (CAGR) of 8.4 percent between 2017 and 2022, MarketsandMarkets  predicts.

Additional insights from Joe Panettieri.

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