Bastille Networks – a leading supplier of wireless threat intelligence technology to the high-tech, banking, and intelligence community – announced a Series C investment of $44 million, led by a new investor: Growth Equity at Goldman Sachs Asset Management.
Existing investor Bessemer Venture Partners also joined Goldman Sachs in the funding round. The investors in previous rounds include Comcast, Bessemer, and the individual investors who have supported the Company from its Seed stage. The capital will support the company’s high growth and expand into new markets.
Growth Equity at Goldman Sachs Asset Management is focused on investing in high-growth businesses with strong market positioning and durable business models. Zartasha Chaudhry of Goldman Sachs will join Bastille’s Board of Directors to advise on the company’s next growth stage.
With the rapid increase of radio frequency devices in people’s pockets, in buildings, in businesses, and in industry, there has been an explosion in wireless vulnerabilities that are not detectable by existing security technologies. And Bastille offers its commercial customers the ability to detect every wireless device in every facility, to watch each device’s behavior, and to evaluate that traffic for threats that would otherwise not be seen.
Then Bastille provides customers’ security teams with the locations of all devices violating their security policies. And a key design feature of Bastille’s technology is the ability to integrate with the customer’s existing security systems and procedures.
KEY QUOTES:
“This $44 million investment from Goldman Sachs coupled with a shared vision about how our unique offering will help customers secure their radio frequency airspace, is a clear indicator of the strength of Bastille products. Bastille has tripled Annual Recurring Revenue in the last year and is on track to more than double ARR again this year. Given their product experience as a Bastille customer, we are thrilled to deepen our relationship with Goldman Sachs as we bring them on as an investor.”
— Chris Risley, CEO of Bastille
“Bastille has transformed the wireless threat detection space by building an advanced, multi-tiered platform providing real-time, continuous wireless threat intelligence. Our investment reflects our thesis that, as sophistication of wireless threats continues to grow, Bastille is primed to meet the needs of customers across the enterprise and federal sectors.”
— Zartasha Chaudhry, Vice President in Growth Equity at Goldman Sachs Asset Management
