Texas-based StackPath has raised $150 million in fresh funding from private equity firm ABRY Partners, the CEO of the cyber security startup said on Monday, in what is among the largest single financing rounds for a private cyber security firm.
Chief Executive Officer Lance Crosby told Reuters StackPath is a security platform that houses a suite of services to tackle a spectrum of cyber threats. The company has spent “tens of millions of dollars” to acquire several companies that provide different types of cloud security services for businesses, Crosby said.
The company’s $150 million ‘Series A’ financing is substantially larger than traditional early-stage rounds, with average Series A tech deals at about $7.8 million, according to venture capital database CB Insights.
The largest cyber deal tracked by CB Insights is mobile security firm AirWatch at $225 million, which was also that company’s Series A funding. For the full article click here
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