Lacework Secures $525M Funding Amid 300% Revenue Growth Surge
Cloud Security Startup Thrives Amid Digital Transformation Wave
As businesses rapidly migrated to cloud services during the pandemic, Lacework emerged as a critical player in cloud-native security. The company announced remarkable 300% year-over-year revenue growth for the second consecutive year, signaling strong market demand for its innovative security solutions.
Record-Breaking Series D Investment
The company’s exceptional performance attracted a massive $525 million Series D funding round, led by Sutter Hill Ventures and Altimeter Capital. Other notable participants included:
- D1 Capital Management
- Coatue
- Dragoneer Investment Group
- Liberty Global Ventures
- Snowflake Ventures
- Tiger Global Management
With this latest infusion, Lacework has raised nearly \(600 million total, achieving a valuation exceeding \)1 billion.
Why Investors Are Betting Big on Lacework
CEO Dan Hubbard attributes investor enthusiasm to the company’s comprehensive security platform:
“We enable companies to build securely in the cloud, spanning multiple market categories to meet diverse customer needs.”
The platform offers:
- Cloud configuration and compliance management
- Infrastructure-as-code security
- Build-time and runtime vulnerability scanning
- Runtime protection for Kubernetes and container environments
Rapid Expansion and Diversity Initiatives
Lacework’s growth extends beyond financial metrics:
- Employee count surged from 92 to 200+ in 2020
- Plans to double headcount again in 2021
The company is actively addressing tech’s diversity challenges through:
- Internal team initiatives
- Partnerships with educational organizations
- Early-stage pipeline development programs
Strategic Partnerships Fuel Innovation
Lacework maintains strong ties with key technology partners:
- Snowflake: $20 million investment from Snowflake’s new venture arm
- Sutter Hill: Continued support from early backers
Mike Speiser of Sutter Hill Ventures compared Lacework’s trajectory to Snowflake’s early days, noting:
“Lacework is growing revenue at over 300% per year, making it one of our most important portfolio companies.”
The Future of Cloud Security
With its substantial new funding and proven technology, Lacework is positioned to:
- Accelerate product innovation
- Expand global operations
- Address critical cloud security challenges
As cloud adoption continues to accelerate, Lacework’s comprehensive approach to cloud-native security places it at the forefront of this rapidly evolving market.
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