CrowdStrike launches $100-mn Falcon Fund-II for investment in cybersecurity
Cybersecurity firm CrowdStrike Holdings Inc on Tuesday announced the launch of Falcon Fund-II, a USD 100-million investment vehicle, in partnership with Accel focused on cross-stage private investments within cybersecurity and relevant adjacent markets.
Five times the size of the initial Falcon Fund, Falcon Fund-II represents CrowdStrike's commitment to growing the cybersecurity technology ecosystem across adjacent markets as one of the largest strategic venture arms in cybersecurity, according to a statement.
CrowdStrike's Falcon Fund-II will build on the success of the original Falcon Fund, which has made investments in companies like Corelight, Cribl, JumpCloud and Tines in 2021, it added.
Falcon Fund-II will continue to broaden CrowdStrike's ecosystem of meaningful technology partnerships, including new vendors for the CrowdStrike Store, it said.
"Falcon Fund-II exemplifies our firm commitment to private company investments that enable us to support technologies and leaders.
"This venture goes beyond our mission to build the best product suite in the market that protects endpoints and cloud workloads, identity and data," George Kurtz, chief executive officer and co-founder of CrowdStrike, said.
Together, with the next generation of market disruptors, the company can help shape the future of cybersecurity with a shared goal of protecting critical areas of risk for organisations and making this world a safer place, he added.
"We saw great success with the launch of the initial Falcon Fund, and with Falcon Fund-II, we will support the next wave of cybersecurity and technology leaders.
"Security is a critical ecosystem and we look forward to the possibilities that one of the largest strategic venture arms in cybersecurity will present," Sameer Gandhi, partner at Accel, said.
With Falcon Fund-II, CrowdStrike aims to dramatically increase its ability to fund the next generation of emerging vendors, build upon the success of the initial Falcon Fund, and form long-term alliances with companies that can benefit from CrowdStrike's expertise and knowledge base, the statement said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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