The cybersecurity technology producer was valued at $8.3bn in a round that included existing backers Liberty Global Ventures and Snowflake Ventures.

US-headquartered cybersecurity software provider Lacework received $1.3bn in funding yesterday from investors including data software producer Snowflake and mass media group Liberty Global. Sutter Hill Ventures, Altimeter Capital, D1 Capital Partners and Tiger Global Management co-led the round, which also featured Morgan Stanley’s Counterpoint Global subsidiary, Durable Capital, Franklin Templeton, General Catalyst, XN, Coatue Management and Dragoneer Investment Group. The corporates participated in the round, which valued the company at $8.3bn, through subsidiaries Liberty Global Ventures and Snowflake Ventures. Its overall funding now stands at about $1.9bn. Lacework has created a software platform which automates the collection, analysis and correlation of data to seek out crucial security events. The deal follows the company’s acquisition of data-focused cybersecurity platform developer Soluble and the capital will fund product development, hiring and international growth. Sutter Hill Ventures and Altimeter Capital co-led Lacework’s last round, in January this year, when it raised $525m from investors also including Liberty Global Ventures, Snowflake Ventures, Coatue, Dragoneer, Tiger Global and D1 Capital Partners. Liberty Global Ventures and Sutter Hill Ventures invested $42m in the company in 2019 having joined Spike Ventures, Webb Investment Network and AME Cloud Ventures in a $24m series B round the previous year. Lacework co-CEOs David Hatfield and Jay Parikh said in a joint statement: “Our growth over the last 36 months reflects the pain many businesses endure as they attempt to navigate the cloud using security products that simply aren’t designed for it. “This investment, and the partnership of these long-term investors, will help us realise Lacework’s promise of becoming the most trusted cloud security platform.”

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.