- Strider Technologies recently announced it raised $45 million. These are the details.
Strider Technologies – a leading provider of strategic intelligence – announced that it has closed $45 million in Series B funding. This funding round was led by Valor Equity Partners with participation from existing investors DataTribe, Koch Disruptive Technologies, and One9 Ventures. And Costa Saab, from Valor Equity Partners, will join Strider’s Board of Directors.
Strider is known as the leading provider of proprietary data and software enabling Fortune 500 companies, government agencies, and research institutions to identify, manage, and respond to nation-state-directed activities targeting their personnel, intellectual property (IP), and supply chains. And since launching in May of 2019, Strider has secured $57 million in venture capital funding, fueling product development and team growth, while securing Strider’s position in a new market category.
This investment comes at a time of rapid growth for Strider. Last year, Strider increased annual recurring revenue by over 450% with a customer retention rate of 100%. And Strider’s revenue growth came from premier Fortune 500 companies across semiconductor, pharmaceutical, aerospace and defense, and energy & chemicals industries, and contracts with government agencies.
The $45 million investment will allow Strider to enhance existing products, introduce new capabilities, and expand its team and geographic presence to support demand across industry and government markets. And Strider will also look to expand its team of intelligence specialists, data scientists, software engineers, and professional and operational support staff all dedicated to protecting the ideals and innovations of the free world.
KEY QUOTES:
“Strider is the first company to arm its customers with data intelligence to close the critical security gaps that nation-state actors have exploited for decades. Strider’s solutions are groundbreaking and critical for any organization operating in this increasingly competitive and complex global marketplace. We are proud to support such an important mission and look forward to Strider’s continued growth.”
– Costa Saab, Chief Technology Officer of Valor Equity Partners, and former Senior Executive at the Central Intelligence Agency
“Since day one, Strider has been focused on delivering data and software to our customers that empower them to protect their talent, intellectual property, and supply chains. Strider’s growth, and this investment, are further validation of our critical mission. We are extremely proud to partner with Valor Equity Partners as well as the continued support from our existing investors.”
– Greg Levesque, CEO & Co-Founder of Strider
“Strider provides a one-of-a-kind technology that empowers organizations to combat the growing nation-state sponsored economic espionage challenge. Their work is revolutionary, and we are proud to continue to support Strider as they scale their capabilities to help more organizations in need.”
– Mike Janke, Co-founder of DataTribe
