Tanium, a California-based endpoint security and systems management company is looking to raise a big new funding round at a valuation of at least $2.5 billion.
Tanium, a California-based endpoint security and systems management company, is looking to raise a big new funding round at a valuation of at least $2.5 billion, multiple sources told Fortune.
One source even suggested the final figure may top $3 billion.
While it is unclear if any term sheets have been signed, Institutional Venture Partners is reportedly on board as a new investor.
Tanium’s first venture capital funding came last summer in the form of $90 million from Andreessen Horowitz, which added another $52 million to the company earlier this year at a $1.75 billion valuation, Fortune reported yesterday (Aug. 12).
The company’s ability to detect and neutralize enterprise cybersecurity threats swiftly has allowed it to stand apart from the myriad of security-based startups in the market. According to Tanium, its platform is 10,000 times faster than other endpoint tools, no matter how many endpoints there are to protect.
Industry leaders like Visa, Target, Best Buy and Kaiser Permanente all rely on Tanium’s 15-second visibility and control over millions of endpoints.
According to Fortune, Tanium has contracts with 50 of the Fortune 100 companies, which includes half of the top U.S. financial institutions and four of the Top 10 retailers, with some of its larger accounts involving the management of more than 500,000 devices.
As of March, when the company announced its last funding milestone, it said it ended 2014 being debt free, cash flow positive and with total cash in excess of $100 million. Tanium also stated the number of its transactions over $1 million grew by 800 percent, while the number of transactions over $5 million increased to 300 percent year-over-year.
Tanium did not return Fortune’s request for a comment and Institutional Venture Partners declined to comment.
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