According to a recent article by Reuters, San Jose-based cloud security startup Lacework received $1.3 billion in new funding after completing an extended Series D investment round, bringing its total valuation to an impressive $8.3 billion.
Lacework generated quite a bit of attention from tech investors in recent months, especially after securing $525 million in capital during the first stage of the Series D round at the start of 2021. The company is notable for providing cloud-centric security solutions and data warehousing, two highly important services in the increasingly hybrid landscape.
The extended Series D round was led by current investors Sutter Hill Ventures, Altimeter Capital, D1 Capital Partners and Tiger Global Management. New investors include Franklin Templeton and Morgan Stanley-owned investment group, Counterpoint Global. Lacework executives are now contemplating strategies for making the company public, such as a standard IPO or through direct listing.
Lacework Co-CEO David Hatfield told Reuters, “There are a lot of different options for companies like ours, (including) a direct listing or an IPO, and we are considering those options, but nothing actively,"
It should come as no surprise that Lacework is generating so much attention from investors, especially as hacks and ransomware continue to exploit businesses transitioning to the cloud. With this latest injection of capital, Lacework is well positioned to become a leading figure in the cybersecurity space.
Edited by Maurice Nagle