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 Institutional Venture
Partners (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 only offered 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.
In parallel to sales, the company’s product development 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,
● Andreessen Horowitz
● TPG Growth
● T. Rowe Price
● Franklin Templeton Investments
● Citi Ventures
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