Zscaler, an Internet security company, made an announcement yesterday (Aug. 3) that the company has joined the ranks of companies valued at more than $1 billion.
With the help of a $100 million investment round that was led by TPG — along with existing investors EMC and Lightspeed Ventures — Zscaler will be able to build out its business expansion plan and help develop its technology initiatives.
According to figures provided by the company, Zscaler already helps protect more than 13 million employees across enterprises and government organizations. This includes clients like United Airlines, Humana, NBC and National Health Services of the U.K.
“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,” Jay Chaudhry, CEO of Zscaler, said in a news release about the latest funding round. “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 company claims to secure more than 15 billion Internet requests and prevent more than 100 million cyberthreats a day because of the technology behind its security platform.
Henry Jiang, Chief Information Security Officer at Oppenheimer & Co., commented that: “Working with Zscaler, we’ve greatly improved our security, reduced expenses by more than 90 percent in certain areas and provided a better and safer Internet experience for our employees. We congratulate Zscaler on this important milestone and look forward to working with them long into the future.”
Nehal Raj, partner at TPG, also shared why the company led the $100 million funding round for Zscaler. In the release, TPG notes that its mission is “focused on finding and investing in companies that are looking for a long-term partner in growth, and which are a match for its global network and toolkit of industry- and geography-specific experts.”
“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,” Raj said. “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.”
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