Lacework announced a $525 million growth round with a valuation of over $1 billion.
Led by Sutter Hill Ventures and Altimeter Capital, and joined by D1 Capital Partners, Coatue, Dragoneer Investment Group, Liberty Global Ventures, Snowflake Ventures and Tiger Global Management, the round reflects Lacework’s accelerated adoption among digital businesses building on Amazon Web Services (AWS), Microsoft Azure, Google Cloud, and Kubernetes.
The investment round will be used to accelerate the strategies that drove Lacework’s 300%+ revenue growth in 2020, expand its go-to-market and partner ecosystem operations, and grow its engineering and R&D teams across the US and Europe.
The next phase of Lacework’s growth will focus on extending its market-leading SaaS security platform and expanding into new adjacent spaces, all with a focus on enabling customers to innovate in the cloud with speed and safety. Furthermore, the investment will enable Lacework to deliver additional integrations across the devops toolchain and into security data lake initiatives for Snowflake customers.
Dan Hubbard, CEO, Lacework, said: “Building on cloud is the biggest shift the IT industry has ever witnessed. Constant cloud changes require a new approach to security critical for our customers adapting and scaling as fast as clouds innovate. 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.”