Web: Cloudflare raises funds for China push

September 2015 by: From The Web

Cyber security company Cloudflare, a San Francisco-based start-up, has raised $110m as it tries to expand into new markets, with strategic investments from China’s Baidu, Google Capital, Microsoft, and chipmaker Qualcomm.


Cloudflare, which specialises in making websites faster, and more secure from threats such as distributed denial of service attacks, is the latest cyber security company to raise at least $100m, following fundraisings by Tanium, Zscaler and Crowdstrike.


Matthew Prince, chief executive, said Cloudflare had focused on attracting large strategic investors that could help it in areas where it wanted to expand — China, mobile and large enterprises — and on preparing to go public some time from 2017. Cloudflare hopes that Microsoft will help it sell to large companies.


“We were very flattered and honoured that a number of very large investors were interested,” he said. Fidelity led the fundraising round.


Cloudflare’s alliance with Baidu is designed to help speed web traffic across the so-called “Great Firewall”, which filters the internet into and out of China. An unusual structure called a virtual joint venture means Cloudflare does not operate within the country.


...


Continue Reading: Financial Times