Tanium Announces $150 Million Funding Round Sparked by Major Industry Partnerships
Tanium, the provider of unified endpoint management and security built for the world’s most demanding IT environments, today announced that it has completed the sale of an additional $150 million in common stock. Existing investors Fidelity Management & Research Company, LLC, Baillie Gifford, their respective affiliates, and funds and accounts advised by T. Rowe Price Associates, Inc. participated in the financing. The latest investment brings the total raised by Tanium to more than $900 million, increasing the company’s valuation to over $9 billion.
The financing comes shortly after the company announced a strategic partnership with Salesforce and an investment from Salesforce Ventures in June 2020, which sparked renewed interest from existing investors.
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“Tanium has pioneered a fundamentally different approach to the management and protection of endpoints by unifying operational visibility, security controls, and risk management,” said James Anderson, Partner at Baillie Gifford. “This transformative approach is driven by a fantastic leadership team that we have grown to deeply admire, with a proven track record of category creation and execution at scale. We are pleased to extend our investment in Tanium.”
“From the beginning, Tanium has committed to build a platform that anticipates and adapts to the needs of our customers, giving them the visibility and control they need to manage and secure the complete lifecycle of endpoints everywhere they exist,” said Orion Hindawi, co-founder and CEO of Tanium. “These qualities have never been more relevant, or more mission critical. This investment once again confirms that open platforms that help customers digitize and transform at high speed deliver tremendous value to organizations across every sector.”
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In addition to announcing a strategic partnership with Salesforce in June, Tanium has continued a fast pace of innovation. In July, the company announced the availability of Tanium as a Service, the first and only zero infrastructure endpoint management and security solution. In August, the company announced another major partnership with Google Cloud and integration with Chronicle. Tanium also recently announced the appointment of Mark Fields, former CEO of Ford Motor Company, as lead independent director of its Board.
The company has a strong track record of growth. In 2019, revenue grew over 50 percent year over year, exceeding $430 million, with double-digit adjusted EBITDA and Operating Cash Flow margins. During the same period, Tanium also grew its headcount more than 50 percent to over 1,400 full-time employees.
Allen & Co. served as financial adviser to Tanium for this financing.
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