A stock round led by TPG Growth and other existing investors raises an additional $100 million for the company. This latest round is a testament to the strength of Tanium’s offering as an essential platform helping enterprises solve critical cybersecurity and IT operations challenges.
I’m delighted to announce that Tanium 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 our 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 our future. Previous funding rounds in the company historically offered only preferred stock.
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 our 2016 fiscal year, which ended January 31, 2017, we added almost 100 new enterprise customers, cementing our status as an essential asset in helping the world’s largest companies and government organizations solve critical business challenges.
I invite you to read the full press release here.
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About the author: Fazal Merchant is Tanium’s COO and CFO. In addition, he currently serves as an advisor to WndrCo, a new media- and technology-focused holding company founded by partners including former DreamWorks CEO Jeffrey Katzenberg. Previously, he was the CFO of DreamWorks Animation, leading up to the company’s November 2016 sale to Comcast. Prior to that, Fazal held various positions at DirecTV, including CFO of the Latin American division, Corporate Treasurer and Head of Corporate Development. Before DirecTV, Fazal spent eight years in Investment Banking during which he was a Managing Director at both Barclays Capital and the Royal Bank of Scotland. He began his career at Ford Motor Co. where he held a variety of domestic and international finance roles of increasing responsibility at both Ford and Ford Credit.