Lacework, a San Jose, Calif.-based data-driven security platform for the cloud raised $1.3 billion on an $8.3 billion valuation to double down on the channel. Series D round was led by existing investors Sutter Hill Ventures, Altimeter Capital, D1 Capital Partners, and Tiger Global Management.
New investors include Counterpoint Global (Morgan Stanley), Durable Capital, Franklin Templeton, General Catalyst, and XN. Coatue, Dragoneer, Liberty Global Ventures, and Snowflake Ventures, all existing investors, also participated.
The plans to use the Series D proceeds to carry out select acquisitions, expand in Europe and Asia-Pacific, and work more efficiently with channel partners.
With this capital, which is the largest funding round in security industry history, Lacework will continue to invest in rapidly scaling its business globally, building on the recent momentum of more than 3x year-over-year revenue growth, a 3.5x year-over-year increase in new customers, including LogicMonitor, Hypergiant, Sprinklr, and more than 3x year-over-year employee growth worldwide.
Company: Lacework, Inc.
Raised: $1.3B
Round: Series D
Funding Month: November 2021
Lead Investors: Sutter Hill Ventures, Altimeter Capital, D1 Capital Partners, and Tiger Global Management
Additional Investors: Counterpoint Global, Durable Capital, Franklin Templeton, General Catalyst, and XN. Coatue, Dragoneer, Liberty Global Ventures, and Snowflake Ventures
Company Website: https://www.lacework.com/
Software Category: Cloud Security Platform
About the Company: Lacework is the data-driven security platform for the cloud. The Lacework Cloud Security Platform, powered by Polygraph, automates cloud security at scale so our customers can innovate with speed and safety. Only Lacework can collect, analyze, and accurately correlate data across an organization’s AWS, Azure, GCP, and Kubernetes environments, and narrow it down to the handful of security events that matter. Customers all over the globe depend on Lacework to drive revenue, bring products to market faster and safer and consolidate point security solutions into a single platform. Founded in 2015 and headquartered in San Jose, Calif.
Source: https://www.lacework.com/press-release/lacework-closes-seriesD-funding-round/