CrowdStrike said it plans to sell 18 million shares at between $19 and $23 each as part of an initial public offering (IPO). This sets up the endpoint security unicorn to raise between $342 million and $414 million when it debuts on the Nasdaq exchange.
The company, founded in 2011, was valued at $3 billion after a $200 million Series E funding round in June 2018.
In its earlier filing with the U.S. Securities and Exchange Commission, CrowdStrike reported its revenue grew from $52.7 million for fiscal 2017, to $118.8 million for fiscal 2018, representing 125% year-over-year growth, and then another 110% to $249.8 million for fiscal 2019. Its net losses also grew, however, from $91.3 million for fiscal 2017, to $140.1 million for fiscal 2019.
The S-1 filing also revealed that Amazon Web Services (AWS) is a customer and has deployed CrowdStrike’s Flacon security platform across “hundreds of thousands of AWS workstations and servers.”
CrowdStrike’s IPO will be just the second in the cybersecurity space this year, following Israel’s Tufin Software Technologies public debut in April. But it follows a huge year in 2018, that saw Avast Software raise $811 million, Tenable raise $251 million, Zscaler raise $192 million, and Carbon Black raise $152 million.
Investments FlowingWhile this year remains largely untested by security public offerings, venture capital firms and other tech companies are still eager to invest millions into startups and acquisitions about five months into 2019.
Today, Insight Partners said it bought threat intelligence company Recorded Future for $780 million in what the companies called the “largest-ever threat intelligence acquisition.” Yesterday, Palo Alto Networks announced plans to buy container security company Twistlock for $410 million and serverless security startup PureSec for an undisclosed amount. Also this week, FireEye acquired security instrumentation company Verodin for $250 million.
Meanwhile, security startups have raised almost $100 million this week alone in venture capital with Logz.io closing a $52 million Series D funding round, and SwimLane scoring $23 million and AttackIQ securing $17.6 million, both in Series B funding.
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