Lacework raises $8.3B in funding round
Lacework recently raised $8.3 billion in a round of funding led by Sutter Hill Ventures, Altimeter Capital, D1 Capital Partners, and Tiger Global Management. The round also saw participation from Franklin Templeton, Counterpoint Global (Morgan Stanley), Durable Capital, General Catalyst, XN, Coatue, Dragoneer, Liberty Global, and Snowflake Ventures.
The startup plans to utilise the capital raised for product development.
“Kapoor and Kalra founded Lacework with the goal of taking a data-driven approach to cloud security. We view security as a data problem and our platform is uniquely suited to solve that problem,” said Lacework co-CEO Jay Parikh. “Traditional security solutions force companies to amass a patchwork of point solutions and then manually tell them what to watch for, resulting in an inefficient and ineffective security process. At Lacework, we use data to uncover security risks and threats.”
Founded in 2015 by Mike Speiser, Sanjay Kalra, and Vikram Kapoor, the company aims to bridge security gaps across DevOps and cloud environments by identifying threats.
“We are experiencing tremendous growth with no signs of slowing down. Our revenue continues to grow along with our customer base and employee base,” Parikh added. “We plan to use this funding to extend our lead in the cloud security market by fueling product innovation that expands the company’s total addressable market and pursuing additional strategic acquisitions, like the recently announced Soluble transaction … We’ll also scale go-to-market strategies, growing our workforce and presence globally to better serve our customers.”
Follow Startup Story
Related Posts
