Tanium Accelerates Momentum Secures $200 M Funding
Latest round of funding from world-class investment firms solidifies Tanium’s position as a leader in global cybersecurity
Emeryville, Calif., October 2, 2018 – Tanium, the platform for business resilience, today announced that it has raised an additional $200 million in a sale of common stock, following a year of record growth in 2017. The funding round, which raises the company’s pre-money valuation to $6.5 billion and solidifies its leadership position in cybersecurity, was led by Wellington Management along with Baillie Gifford & Company and Adage Capital Management LP. This round of funding may be used to provide early investor and employee liquidity, as well as for general corporate purposes.
Launched in 2007, Tanium gives the world’s largest enterprise and government organizations the unique power to secure, control and manage millions of endpoints across the enterprise within seconds. With the speed, scale and simplicity of Tanium’s platform, security and IT operations teams now have visibility and accurate information on the state of endpoints at all times to more effectively protect against modern-day disruptions and realize new levels of business resilience.
“Tanium is an extraordinary platform, providing IT security and management at scale for some of the world’s most successful companies,” said Peter Singlehurst, head of the unlisted equities team at Baillie Gifford. “As long-term investors, we look forward to supporting Tanium’s management team over the coming years as it continues to build a world-class technology business.”
“We introduced our technology to the world five years ago, and in that time, we have grown to be over 800 team members strong and helped hundreds of the world’s largest enterprises – including over half of the Fortune 100 – achieve stronger business resilience,” said Tanium CEO and co-founder Orion Hindawi. “We are thrilled to have such a strong set of investors support the Tanium vision of transforming the way industry-leading companies are able to manage and secure their networks against ever-advancing technology-based disruptions.”
Tanium continues to be in a position of strength uncommon for companies in the security and IT space. As of January 31, 2018 (fiscal year end 2017), Tanium had approximately $320 million in cash and equivalents, and positive operating cash flow of $25 million, despite continued and aggressive investments in expansion. Billings grew to more than $270 million, or well over 60%, while Annual Recurring Revenue of approximately $230 million was up over 80% from the prior year. Net renewal rates for the largely subscription-based business were in excess of 150%, highlighting the value proposition for customers.
Tanium’s current investor base includes, among others:
- Adage Capital Management LP
- Andreessen Horowitz
- Baillie Gifford & Company
- Citi Ventures
- Franklin Templeton Investments
- Geodesic Capital
- TPG Growth
- Wellington Management
Tanium offers a unified endpoint management and security platform that is built for the world’s most demanding IT environments. Many of the world’s largest and most sophisticated organizations, including more than half of the Fortune 100, top retailers and financial institutions, and four branches of the US Armed Forces rely on Tanium to make confident decisions, operate efficiently and effectively, and remain resilient against disruption. Tanium ranks 7th on the Forbes list of “Top 100 Private Companies in Cloud Computing” for 2019 and 10th on FORTUNE’s list of the “100 Best Medium Workplaces.” Visit us at www.tanium.com and follow us on LinkedIn and Twitter.
About Wellington Management
Tracing its history to 1928, Wellington Management is one of the world’s largest independent investment management firms. With over USD 1 trillion in client assets under management as of 30 June 2018, we serve as a trusted adviser to clients in over 60 countries.
About Baillie Gifford & Company
Baillie Gifford employs 1,047 people and has assets under management and advice of £192.9 billion as at 30 June 2018. An asset management firm founded in 1908, it is headquartered in Edinburgh where most of its staff live and work. For more information, visit https://www.bailliegifford.com/about-us/
This press release shall not constitute an offer to sell or a solicitation of an offer to buy shares of Tanium’s capital stock, nor shall there be any sale of Tanium’s capital stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The extent to which Tanium repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including regulatory requirements and other corporate considerations.
Tanium’s statements regarding its plans, directions and intent are subject to change or withdrawal without notice at Tanium’s sole discretion. Information regarding potential future products is intended to outline our general product direction and it should not be relied on in making a purchasing decision. Information about potential future products may not be incorporated into any contract. The information mentioned regarding potential future products is not a commitment, promise or legal obligation to deliver any material, code or functionality. The development, release and timing of any future features or functionality described for our products remains at our sole discretion.
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