DevSecOps company Sysdig on Wednesday announced becoming a “unicorn” after raising $188 million in a Series F funding round at a valuation of $1.19 billion.
The latest funding round, which brings the total raised by the company to $394 million, was led by Premji Invest & Associates and Third Point Ventures, with participation from Accel, Bain Capital Ventures, DFJ Growth, Glynn Capital, Goldman Sachs, Insight Partners, and Next47.
The money will be used by the company to improve its products, grow R&D teams, expand sales and marketing, and enter the market in the APAC region.
Sysdig offers a secure DevOps platform that is designed to provide organizations security and visibility capabilities for their containers, cloud and Kubernetes. The company’s solutions enable customers to secure software build pipelines, detect and respond to runtime threats, monitor the performance and capacity of cloud and container services, and manage cloud posture and compliance.
Sysdig, which started as an open source project, also provides some open source tools that have been downloaded tens of millions of times.
A dozen cybersecurity companies have announced achieving unicorn status so far this year. There has been a surge in the number of firms valued at more than $1 billion in the past year, which some have attributed to speculative strategies and others to the growing importance of cybersecurity.