
Cloud security startup Lacework valued at $8.3b after mammoth funding round
Friday, 19 November 2021
Cloud security services provider Lacework on Thursday raised $1.3 billion in fresh capital at a valuation of $8.3 billion, making it one of the largest venture funding rounds of the year in the United States, reports Reuters.
The latest financing pushed up Lacework's valuation by more than eightfold and was led by existing investors Sutter Hill Ventures, Altimeter Capital, D1 Capital Partners and Tiger Global Management.
The San Jose, California-based firm had raised $525 million at a valuation of $1 billion at the start of the year.
Lacework is exploring different routes to go public, including a traditional initial public offering or a direct listing, although it has not finalized when it plans to do so, Lacework co-chief executive officer David Hatfield said in an interview with Reuters.
"There are a lot of different options for companies like ours, (including) a direct listing or an IPO, and we are considering those options, but nothing actively," Hatfield said.