Total amount raised
$110.1 Millions
Latest funding date
Location
StrongDM has successfully raised significant funding through multiple rounds, with notable investors such as Capital One Ventures and Cisco Investments backing the company. The platform offers zero-trust access control to databases, servers, and applications, ensuring secure and efficient management of critical infrastructure.
Keep reading to explore the intricacies of StrongDM's fundraising journey and the investors supporting this innovative platform.
What Is StrongDM?
StrongDM, founded in 2015, is headquartered in Burlingame, California. The company specializes in zero-trust access control, providing secure and dynamic access to databases, servers, and applications.
Founded by Elizabeth Zalman, Justin McCarthy, and Schuyler Brown, StrongDM focuses on helping organizations manage and secure access to critical infrastructure. The platform offers comprehensive integrations, total visibility, and precise control, ensuring secure and auditable access.
With a team of 101-250 employees, StrongDM continues to innovate in the field of privileged access management, supporting both modern and legacy systems across cloud and on-prem environments.
How Much Funding Has StrongDM Raised?
- Seed Round
- Amount Raised: $800K
- Date: May 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To detect data errors in real-time.
- Seed Round
- Amount Raised: $250K
- Date: June 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure access in a distributed world.
- Seed Round
- Amount Raised: $3M
- Date: December 2016
- Lead Investors: True Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To keep database information from leaking out.
- Seed Round
- Amount Raised: $1M
- Date: October 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure access in a distributed world.
- Series A
- Amount Raised: $17M
- Date: October 2020
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To embed secure access into DevOps’ infrastructure-as-code movement.
- Series B
- Amount Raised: $54M
- Date: September 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To transform secure infrastructure access management.
- Series C
- Amount Raised: $34M
- Date: May 2024
- Lead Investors: Anchor Capital GP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations into EMEA and APAC regions and establish an engineering center of excellence in Poland.
StrongDM has raised a total of $109.05M. The current valuation is Not publicly disclosed.
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that has been investing in early-stage companies since 1972. It is known for backing some of the most successful technology companies in the world.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Apple, Google, WhatsApp.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on public and private companies in the global Internet, software, consumer, and financial technology industries. It was founded in 2001.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- True Ventures
- Details: True Ventures is a venture capital firm that invests in early-stage technology startups. Founded in 2005, it focuses on providing seed and Series A funding.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Fitbit, Peloton, Automattic (WordPress).
- Capital One Ventures
- Details: Capital One Ventures is the strategic investment arm of Capital One Financial Corporation. It focuses on investing in innovative companies that align with Capital One's business objectives.
- Investment Focus Areas: Fintech, enterprise technology, data analytics.
- Notable Investments: Snowflake, Plaid, Finix.
- Cisco Investments
- Details: Cisco Investments is the corporate venture capital arm of Cisco Systems, Inc. It invests in innovative technology companies that align with Cisco's strategic priorities.
- Investment Focus Areas: Networking, cybersecurity, enterprise software.
- Notable Investments: Cohesity, ThousandEyes, Pindrop.
What's Next for StrongDM?
StrongDM is poised to capitalize on significant opportunities as it expands into the EMEA and APAC regions. The establishment of an engineering center in Poland will drive innovation and support the rollout of advanced security features. This global expansion represents a substantial market potential, backed by the recent $34 million Series C funding.
Future fundraising opportunities seem promising, given the successful Series C round and the involvement of high-profile investors. However, StrongDM will face challenges such as competition from established cybersecurity firms and the complexity of entering new international markets. Ensuring seamless integration of their solutions will be crucial for maintaining their competitive edge.
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