Resounding vote of confidence from investor community Stock round led by TPG Growth and other existing investors, including IVP, also brings in a new investor
Latest round a testament to the strength of Tanium's offering as an essential platform helping enterprises solve critical cybersecurity and IT operations challenges
MAY 25, 2017, EMERYVILLE, CALIF. Tanium, the company that redefined security and IT operations with the unparalleled speed and scale of its endpoint communications platform, announced today that it has raised an additional $100 million in a sale of common stock. The round was led by TPG Growth with other existing investors, including IVP. The latest round, which also brings in a new investor, raised the company's value to $3.75 billion.
The $100 million was raised through the issuance of common stock, which is testament to the confidence the investor community has in the company's future. Previous funding rounds in the company historically offered only preferred stock.
Our investment in Tanium reflects our confidence in the company's unique platform, which not only meets the IT and security needs of its business customers today, but equips them with the tools necessary for a secure and efficient future, said Bryan Taylor, Partner at TPG.
Some of the proceeds have been used to repurchase shares from Tanium Executive Chairman and co-founder David Hindawi to enable him to fund his charitable endeavors, which are focused on early education and giving disadvantaged children a healthy start to life. The balance of the proceeds will be used to provide liquidity to early employees and early investors and for general corporate purposes.
It's so unusual to find a company like Tanium, said Somesh Dash, General Partner at IVP. Most companies in the security space lack the combination of differentiated technology with a scalable capital-efficient business model. With Tanium, we're not only investing in a technology platform we believe in, but also a proven business model that is delivering real revenue today, with the momentum to carry it well into the future.
With more than $300 million in cash and investments before this round, over 100% revenue growth last year, and positive operating cash flow, Tanium is in a position of strength uncommon for companies in the security and IT space. In its 2016 fiscal year, which ended January 31, 2017, Tanium added almost 100 new enterprise customers, cementing its status as an essential asset in helping the world's largest companies and government organizations solve critical business challenges. Tanium's clients include 12 of the top 15 US banks and 6 of the top 10 retailers. The company has strong penetration in the Fortune 100 as well as many agencies of the US Federal government.
The company's 2017 fiscal-year roadmap includes:
Further investment into IT operations products and modules;
Deepened commitment to growth in existing sectors (federal, finance, retail, healthcare);
Establishing a strong presence in manufacturing and media; and
International growth in EMEA and APAC.
Parallel to sales, the company's product development cadence continues to release one module per quarter, with each module addressing a new point solution market that Tanium intends to aggregate into its platform. This ambitious roadmap allows Tanium to scale with growing customer needs, while meeting market demand for its products and services.
Investors are understandably tired of funding cybersecurity companies whose offerings have very short shelf lives as their point solution approach is nullified by the changing attack landscape, said Tanium CEO Orion Hindawi. Tanium is unique in our industry. In contrast to the cybersecurity-only companies, we provide an endpoint platform that allows communication for massive numbers of assets in a way enterprises have never had before, which is useful across not only security but also operations issues in IT. Because of that breadth of offering, our investors see Tanium having longevity and potential that exceeds the typical cybersecurity landscape, and we will work hard to continue proving them right by driving our platform further into both security and operations with each passing quarter.
Tanium's Prior Rounds
Tanium has raised a total of $407 million inclusive of the current round. The company last raised $147.5 million with the issuance of Series G preferred stock. The current investor base includes, among others:
Andreessen Horowitz
TPG Growth
IVP
T. Rowe Price
Franklin Templeton Investments
Citi Ventures
Geodesic Capital
This latest round comes on the heels of key leadership appointments earlier this year, including board members Maggie Wilderotter and Anthony Belfiore, COO/CFO Fazal Merchant, and CTO Chris Bream.
# # #
About Tanium
Tanium gives the world's largest enterprises and government organizations the unique power to secure, control, and manage millions of endpoints across the enterprise within seconds. Serving as the central nervous system for enterprises, Tanium empowers security and IT operations teams to ask questions about the state of every endpoint across the enterprise in plain English, retrieve data on their current and historical state, and execute change as necessary, all within seconds. With the unprecedented speed, scale, and simplicity of Tanium, organizations now have complete and accurate information on the state of endpoints at all times to more effectively protect against modern day threats and realize new levels of efficiency in IT operations. Visit us at www.tanium.com or follow us on Twitter at @Tanium.
About TPG
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With over $8.3 billion of assets under management, TPG Growth targets investments
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Resounding vote of confidence from investor community Stock round led by TPG Growth and other existing investors, including IVP, also brings in a new investor
