Google Capital leads $100M investment to fund growth by Crowdstrike cybersecurity company
Google Capital has led a $100M investment in Crowdstrike, a cybersecurity company with strong government ties, reports the WSJ. Supporting investors include Rackspace, Accel and Warburg Pincus.
Its head of investigations, Shawn Henry, is the former top computer-crimes official at the Federal Bureau of Investigation. Crowdstrike’s D.C.-based chief technology officer, Dmitri Alperovitch, has a long history of calling out foreign hacker groups.
Crowdstrike offers a remote monitoring service for its clients’ networks, aiming to detect hacking attempts at an early stage. Where hackers have already penetrated, the company works to identify the group responsible.
Google Capital was formed last year to provide funding for successful companies looking for growth. It sits alongside Google Ventures, which provides early-stage funding for startups. Google Capital partner Gene Frantz said that they were “blown away” by the company tripling its billings year-on-year.
“We were blown away by CrowdStrike’s incredible growth and impressive customer adoption,” said 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.”