Total amount raised
$332.2 Millions
Latest funding date
3/1/2019
Location
Cloudflare has successfully raised funds through multiple rounds, with the last being a Series E round. The company is backed by 14 investors, including Franklin Templeton and Employee Stock Option Fund.
Keep reading to explore the intricacies of Cloudflare's fundraising journey and the investors supporting this innovative platform.
What Is Cloudflare?
Cloudflare, founded in June 2009 by Lee Holloway, Matthew Prince, and Michelle Zatlyn, is headquartered in San Francisco, California. The company specializes in web performance and security, offering services to protect and accelerate websites, applications, and networks.
With a global network spanning over 335 cities in 125 countries, Cloudflare provides a unified platform with more than 60 cloud services. These include content delivery, security solutions like WAF and DDoS protection, and tools for building and scaling applications.
Cloudflare employs between 1,001 and 5,000 people, making it a significant player in the tech industry. The company's mission is to enhance the security, performance, and reliability of the internet.
How Much Funding Has Cloudflare Raised?
- Series A
- Amount Raised: $2.1M
- Date: November 2009
- Lead Investors: Pelion Venture Partners, Venrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial product offerings.
- Series B
- Amount Raised: $20M
- Date: July 2011
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform's capabilities.
- Grant
- Amount Raised: $150K
- Date: June 2013
- Lead Investors: National Science Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support research and development initiatives.
- Series C
- Amount Raised: $50M
- Date: December 2013
- Lead Investors: Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and expand market reach.
- Series D
- Amount Raised: $110M
- Date: September 2015
- Lead Investors: Fidelity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enter new international markets.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: August 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series E
- Amount Raised: $150M
- Date: March 2019
- Lead Investors: Franklin Templeton
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth, extend product ranges, and continue international expansion.
Total Amount Raised: $332.25M. Current Valuation: Not publicly disclosed.
Key Investors
- Franklin Templeton
- Details: Franklin Templeton is a global investment management organization known for its expertise in mutual funds, ETFs, and other investment products. The firm led Cloudflare's Series E funding round with a $150M investment.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Uber, SpaceX, Alibaba.
- New Enterprise Associates (NEA)
- Details: NEA is a venture capital firm that has been a long-time investor in Cloudflare, participating in the Series B round. The firm is known for its investments in technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, energy.
- Notable Investments: Coursera, Duolingo, Robinhood.
- Union Square Ventures
- Details: Union Square Ventures is an early investor in Cloudflare, leading the Series C round. The firm focuses on internet and web service companies.
- Investment Focus Areas: Internet, web services.
- Notable Investments: Twitter, Etsy, Coinbase.
- Venrock
- Details: Venrock is a venture capital firm that invests in technology and healthcare companies. They were a lead investor in Cloudflare's Series A round.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Apple, Intel, Illumina.
- Fidelity
- Details: Fidelity is a multinational financial services corporation that led Cloudflare's Series D round. The firm is known for its broad investment focus.
- Investment Focus Areas: Technology, financial services.
- Notable Investments: Uber, SpaceX, Alibaba.
What's Next for Cloudflare?
Cloudflare's future is brimming with opportunities, particularly in expanding its global network and enhancing its product offerings. With $150 million raised in its latest funding round, the company is well-positioned to enter new markets and extend its range of services. The addition of experienced board members like Maria Eitel and Stan Meresman further strengthens its strategic direction.
As the demand for internet performance and security continues to grow, Cloudflare is likely to attract more investment, potentially leading to additional funding rounds. However, the company must navigate challenges such as maintaining its competitive edge and effectively integrating new board members to ensure sustained growth.
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