Pictured: Dan Hubbard, CEO at Lacework
Cloud security player Lacework has announced a $525 million funding round which it claimed takes its valuation past $1 billion. The funding round was led by Sutter Hill and Altimeter Capital, and joined by D1 Capital Partners, Coatue, Dragoneer Investment Group, Liberty Global Ventures, Snowflake Ventures and Tiger Global Management.
Lacework said its adoption has been strong among digital businesses building on Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP) and Kubernetes. The new cash will be used to expand its go-to-market and partner ecosystem operations, and grow its engineering and R&D teams across the US and Europe.
“Building on cloud is the biggest shift the IT industry has ever witnessed,” said Dan Hubbard, Lacework CEO. “Constant cloud changes require a new approach to security that is critical for our customers for adapting and scaling as fast as cloud innovation. This round will allow us to extend our product differentiation leadership which is critical in a transformative market driven by both fast moving builders and sophisticated attackers.”