Zscaler raises $100m in round led by TPG
California based Zscaler, which provides security-as-a-service (SAAS), has raised $100 million dollars in Series B funding round. This was led largely by late stage investor TPG. Other investments have come from existing investors EMC, the storage company, and Lightspeed Ventures. The company has now raised well over $130 million dollars and its valuation last round was estimated to be at over a billion.
Jay Chaudhry, CEO of Zscaler, has said in a recent announcement, “Our mission is to make the Internet safe for business by delivering an amazing security platform that protects our clients and enables the strategic adoption of cloud computing, mobile devices and the Internet of Things. The investment and partnership from TPG and the global relationships and experience they provide will enable us to accelerate investment in our technology, grow our customer base and aggressively scale our business to meet growing demand. We are excited to join an elite group of security companies valued in excess of $1 billion.”
The companies’ customer base has nearly doubled since last year. The company has an estimated 5000 customers, including Humana, NBC, ExxonMobil and the UK’s National Health Services, and protects over 13 million employees.
Nehal Raj, a partner at TPG, and now a Zscaler board member, has also said, “We see tremendous opportunity in the rapidly growing cybersecurity industry, and after spending significant time in the space, we found Zscaler to be the leading cloud-based security solution for the world’s largest and most demanding customers — a true SaaS platform like that of Salesforce or Workday. We are looking forward to partnering with Jay and his team to accelerate growth, most immediately by introducing Zscaler to the potential customers and channel partners within our global network.”