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Cybersecurity Funding

Endpoint Security Firm Tanium Raises $100 Million

Emeryville, CA-based endpoint security and systems management firm Tanium announced on Thursday that it has raised $100 million through the sale of common stock.

Emeryville, CA-based endpoint security and systems management firm Tanium announced on Thursday that it has raised $100 million through the sale of common stock.

The latest funding round was led by TPG Growth and it brought in a new investor. The $100 million raised through the issuance of common stock – previous funding rounds offered only preferred stock – brings the company’s value to $3.75 billion.

Part of the proceeds have been used to repurchase shares from David Hindawi, co-founder and executive chairman of Tanium, to allow him to fund his charity projects. The rest will be used to provide liquidity to early employees and investors, and for general corporate purposes.

Tanium raises $100 million

With this funding round, Tanium has raised a total of $407 million. The company reported a revenue growth of more than 100% last year, and it claims to have brought on board nearly 100 new enterprise customers. Clients include U.S. government agencies, 12 of the top 15 banks, and six of the top 10 retailers.

The company’s plans for the future include expansion in the EMEA and APAC regions, establishing a strong presence in the media and manufacturing sectors, further investment into IT operations products and modules, and growth in existing industries.

“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,” said Tanium CEO Orion Hindawi.

“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,” he added.

Last month, Hindawi published an open letter addressing accusations that the company exposed a California hospital’s network during sales demos, and reports of a toxic staff relations culture.

Related Reading: UK’s 1E Challenges Tanium With New Endpoint Detection & Response (EDR) Tool

Related Reading: Cloud Security Firm Bitglass Raises $45 Million

Related Reading: Veteran Industrial Cybersecurity Firm PAS Raises $40 Million

Written By

Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

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