Tanium, a platform for business resilience, has raised $200 million in funding. The investors were Wellington Management, Baillie Gifford & Company and Adage Capital Management LP.
EMERYVILLE, Calif., Oct. 2, 2018 /PRNewswire/ — 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 percent, while Annual Recurring Revenue of approximately $230 million was up over 80 percent from the prior year. Net renewal rates for the largely subscription-based business were in excess of 150 percent, highlighting the value proposition for customers.
Tanium’s current investor base includes, among others:
Adage Capital Management LP
Baillie Gifford & Company
Franklin Templeton Investments
Tanium provides organizations with a single point of visibility and control to secure and manage technology systems at massive scale enterprise-wide. The Tanium platform enables business resilience to ensure the technology powering businesses today can adapt to disruption. Many of the world’s largest and most sophisticated enterprises including most of the top retailers and financial institutions, and the United States Armed Forces rely on Tanium for business resilience. Tanium was recently ranked fourth on the Forbes list of “Top 100 Private Companies In Cloud Computing For 2018.” Visit us at www.tanium.com or follow us on Twitter at @Tanium.
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/