Sysdig Lands $350M Raise at $2.5B Valuation
December 15, 2021
has raised a $350 million Series G funding round at a valuation of
$2.5 billion – bringing total funding to $744 million and more than
doubling the company’s valuation in eight months. The financing was
led by Permira’s growth fund. Guggenheim Investments joined this
round on behalf of select clients, alongside existing investors
Accel, Bain Capital Ventures, DFJ Growth, Glynn Capital, Goldman
Sachs, Insight Partners, Next47, Premji Invest & Associates, and
Third Point Ventures.
Suresh Vasudevan, CEO of Sysdig: “We’ve seen massive investor
interest in Sysdig as the cloud security market is experiencing
hyper growth. Cloud adoption has accelerated into the mainstream,
and as a result, demand for Sysdig and Falco have skyrocketed. Cloud
security teams quickly realize the importance of runtime threat
detection for containers and cloud, and Sysdig is the clear choice.”
Annualized revenue run rate from security more than tripled in the last 12 months. Strong pattern of expansion by customers demonstrated by an annual net revenue retention (NRR) of 149% as of the most recent quarter.
Customer base increased 140% year-on-year (YoY), and includes nearly 700 customers. Sysdig has an average annual recurring revenue (ARR) of more than $875,000 across the top 50 purchasing customers.
Sysdig’s rapid global expansion has led to a doubling in sales and marketing teams YoY with employees across five global offices and in more than 20 countries.
In August, Sysdig acquired Apolicy, expanding the Sysdig platform to include infrastructure as code (IaC) security. Sysdig introduced guided remediation for IaC manifests and out-of-the-box integration with GitHub, GitLab, Azure DevOps, and Bitbucket to provide risk and policy feedback on IaC pull requests. Additionally, the company added cloud configuration risk management and cloud infrastructure entitlements management (CIEM) to the Sysdig platform this year.
In August, Sysdig was recognized as a Representative Provider in 2021 Gartner® Innovation Insight for Cloud-Native Application Protection Platforms Report.
has emerged as the clear unified container and cloud security
leader. The company has experienced a 300 percent increase in Sysdig
Secure sales in the last 12 months. Over the last year, the company
expanded its SaaS hosting locations from nine to 16, including the
addition of Australia earlier this year. Over the past few months,
the company has heavily invested in its partner program. On November
1, Sysdig announced all deals outside the Global 500 will be
Sysdig also announced today that Karen Walker has joined the company as Chief Financial Officer and Paul Whitney has joined as Chief Human Resource Officer. Karen brings more than 20 years of experience in senior leadership roles at companies that include, PagerDuty, Uber, Pandora Media, Virgin America, and CBS Interactive. Throughout her career, Karen has scaled finance teams in high growth and global organizations, led IPO readiness, and supported ten acquisitions. Paul has significant international experience supporting organizational performance through cultivating company culture and helping people realize their potential. Prior to joining Sysdig, Paul served as Chief People Officer at Cohesity and Databricks, and he has led two past companies through IPOs.