Google invests in cybersecurity firm and university IoT project

Cybersecurity company CrowdStrike Inc. said Monday it has closed a $100 million financing round led by Google Capital, as a number of recent data breaches have shed light on the potential for threats.

To date, the Irvine, Calif.-based company has raised a total of $156 million.

CrowdStrike said its Falcom platform enables organisations to detect, prevent and respond to security attacks at any stage, even malware-free intrusions. Supporting investors include Rackspace, Accel and Warburg Pincus.

With the diminishing success of traditional antivirus and malware security approaches, CrowdStrike sets itself apart by focusing on endpoint protection as the primary way to curb cyber attacks, the company statement explained.

CrowdStrike has more than tripled its growth of total billings and employees year-over-year, and has seen a staggering 550% CAGR in annual recurring revenue (ARR) for the Falcon platform over the past three years.

Google Capital partner Gene Frantz said his investment is the Google fund’s first announced foray into security.

CrowdStrike’s platform services a wide array of businesses across numerous industries, including payment processors, banks, oil and gas companies and tech firms.

“It’s extremely gratifying to bring in a high-caliber investor like Google Capital which shares our passion for innovation and sees the opportunity to completely transform the security industry”, said George Kurtz, CrowdStrike’s co-founder and chief executive officer, in a press release.

CrowdStrike Falcon is a software-as-a-service-based endpoint protection solution that detects malware and non-malware-based attacks, offering critical context and real-time search capability, according to CrowdStrike. You Have an Adversary Problem.™.

The company will use the funding to expand globally to maintain sales momentum. It has also backed SurveyMonkey, Lending Club Corp and Glassdoor. Advised by Google technology and product leaders, the Google Capital team has the extensive operational and technical expertise to make smarter investments and help our portfolio companies succeed.