Tanium has announced that it has raised $200 million in a round of funding led by investment company Wellington Management, which valued the company at $6.5 billion. Baillie Gifford & Co and Adage Capital Management LP also participated in this funding round. This funding round comes less than five months since Tanium closed $175 million at a $5 billion valuation.
Tanium has now raised nearly $800 million in total funding. And some of the companies that have previously invested in Tanium include Andreessen Horowitz, IVP, T. Rowe Price, Citi Ventures and Franklin Templeton Investments. Tanium was rumored to be considering an initial public offering prior to this round of funding.
“We introduced our technology to the world five years ago, and in that time, we have grown to be over 800 team members strong and helped hundreds of the world’s largest enterprises – including over half of the Fortune 100 – achieve stronger business resilience,” said Tanium CEO and co-Founder Orion Hindawi in a statement. “We are thrilled to have such a strong set of investors support the Tanium vision of transforming the way industry-leading companies are able to manage and secure their networks against ever-advancing technology-based disruptions.”
What does Tanium do? Launched in 2007, Tanium provides enterprises and government organizations with the ability to secure and control millions of endpoints in seconds. With Tanium’s platform, security and IT operations teams are able to gain visibility and accurate information on the state of endpoints at all times.
And Tanium provides computer system security and management for government agencies and companies so that they can scan and assess devices on a network within seconds.
“Tanium is an extraordinary platform, providing IT security and management at scale for some of the world’s most successful companies,” added Baillie Gifford’s head of the unlisted equities team Peter Singlehurst. “As long-term investors, we look forward to supporting Tanium’s management team over the coming years as it continues to build a world-class technology business.”
Tanium’s customers include 12 of the top 15 US banks and 6 of the top 10 US retailers along with the U.S. Department of Defense, according to Reuters. As of January 31st, Tanium said it has about $320 million in cash and equivalents and a positive operating cash flow of $25 million. The company’s billings are growing to more than $270 million and ARR is approximately $230 million, which is up over 80% from the prior year. And net renewal rates were over 150%.