Google leads $100 million investment in cybersecurity firm CrowdStrike

Fortune | 7/13/2015 | Staff
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Google Capital, the two-year-old growth equity arm of search giant Google (GOOG), announced its first security investment on Monday morning.

The fund has pumped $100 million into cybersecurity firm CrowdStrike. It was joined by cloud computing company Rackspace (RAX), which is a customer, and the firm’s existing investors Accel and Warburg Pincus. The new infusion represents a Series C round for the Irvine, Calif.-based company, bringing its total funding raised to date to $156 million.

Security - Interest - Google - Google - Capital

“Security is of foremost interest to Google,” said Google Capital partner Gene Frantz, mentioning Google’s expertise in protecting IT assets. “We identified what we think will be a very large and very important security company in the world.”

There were three big factors that played into the fund’s decision to invest. First, Frantz said he believes CrowdStrike’s potentially addressable market is huge. Second, the company’s cloud architecture gives it an advantage when it comes to scaling and deploying its flagship product, CrowdStrike Falcon, a next generation end-point sensor, to organizations across the globe. And third, the firm is led by a “best-in-class” management team, Frantz said.

CrowdStrike - CEO - George - Kurtz - Chief

CrowdStrike CEO George Kurtz, former chief technology officer at McAfee (now known as Intel (INTC) Security), joined up with his co-founder and chief tech officer Dmitri Alperovitch, the former head of threat research at McAfee, to found the company in 2011. Over the past three years, CrowdStrike’s year-over-year revenue growth has surged 550%, and it has reportedly landed big, albeit unnamed, Fortune...
(Excerpt) Read more at: Fortune
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