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Cybersecurity unicorn CrowdStrike files to go public on the Nasdaq

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CrowdStrike, one cybersecurity startup among many which call Silicon Valley home, has signaled its intent to go public and become listed on the Nasdaq stock exchange.

Founded in 2011, CrowdStrike is a cybersecurity firm which specializes in endpoint protection. The startup offers the subscription-based Falcon platform to clients which is a cloud-based solution for threat detection, incident response, and five-second visibility into enterprise endpoint architecture.

CrowdStrike has previously raised $481 million through six Series A to E funding rounds. 

Previous investors include Accel, CapitalG, March Capital Partners, and Institutional Venture Partners (IVP). The last CrowdStrike funding round took place in June 2018.

A term coined in 2013, CrowdStrike is considered a startup unicorn as a privately-held firm with an estimated value of over $1 billion. The startup’s current estimated value is $3.4 billion.

See also: Single server ties hacked diplomatic cables to Chinese cyberattacks worldwide

As reported by Business Insider, the startup filed a public S-1 with the US Securities and Exchange Commission on Tuesday.

According to the filing, CrowdStrike intends to trade under the ticker “CRWD.”

The firm says that to date, 44 of the Fortune 100 are counted among its clients and 77 percent of total revenue was generated from customers based in the United States.

TechRepublic: Cybersecurity burnout: 10 most stressful parts of the job

Total revenue for FY 2017 was $52.7 million and $118.8 million for the 2018 fiscal year, a growth increase of 125 percent. CrowdStrike predicts that FY 2019 revenue will be reported as roughly $249.8 million, a growth rate of 110 percent year-over-year.

However, as the startup is focusing on growth, its spending and operational expenses need to be taken into account — reported as a net loss of $91.3 million for FY 2017 to $135.5 million for FY 2018, anticipated to increase to $140.1 million in the 2019 financial year.

The tech unicorn is not yet profitable and says that its accumulated deficit as of January 31, 2019, was $519.1 million. CrowdStrike added that “we expect to continue to incur net losses for the foreseeable future as we continue to invest in our business and our sales capabilities to address our large market opportunity.”

CNET: Two Florida counties were hacked in 2016 election, says Gov. DeSantis

Class A common stock will be offered through the proposed Initial Public Offering (IPO). Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, and Barclays will act as the lead book-running managers for the proposed shift to the public markets. 

Previous and related coverage


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Security

Key Criteria for Evaluating Unified Endpoint Management

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Endpoint management is one of the most significant challenges in the enterprise today. An increasingly large percentage of our workforce is distributed and demands flexibility to work wherever they want, whenever they want. We must respond by giving them access to the services they require to do their jobs effectively. The alternative is that we, as a business, will suffer, lose good people, and become less competitive. However, we must achieve this essential access while maintaining security and control of our business’s data assets.

An appropriate endpoint management strategy is key to addressing these issues. Our approach should be holistic and unified, bringing together control of devices, management of applications, security of data, and access controls.

Unified endpoint management (UEM) is the approach to meeting this challenge. It has evolved from traditionally disparate solutions for endpoint management, application delivery, and security into a single platform. This single platform delivers a consistent end-user experience across all devices, applications, and locations while maintaining security and control of data assets. The leading solutions allow us to enroll devices easily into our control, provide support, and ensure constituency and compliance while managing access to our applications and data.

This GigaOM Key Criteria Report describes UEM solutions and identifies key criteria and evaluation metrics for selecting such a solution. The corresponding GigaOm Radar Report identifies vendors and products that excel in this sector. Together, these reports give decision-makers an overview of the market to help them evaluate existing platforms and decide where to invest.

How to Read this Report

This GigaOm report is one of a series of documents that helps IT organizations assess competing solutions in the context of well-defined features and criteria. For a fuller understanding consider reviewing the following reports:

Key Criteria report: A detailed market sector analysis that assesses the impact that key product features and criteria have on top-line solution characteristics—such as scalability, performance, and TCO—that drive purchase decisions.

GigaOm Radar report: A forward-looking analysis that plots the relative value and progression of vendor solutions along multiple axes based on strategy and execution. The Radar report includes a breakdown of each vendor’s offering in the sector.

Solution Profile: An in-depth vendor analysis that builds on the framework developed in the Key Criteria and Radar reports to assess a company’s engagement within a technology sector. This analysis includes forward-looking guidance around both strategy and product.

The post Key Criteria for Evaluating Unified Endpoint Management appeared first on Gigaom.

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Data Storage for Ever Changing Business Needs

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Join GigaOm analyst Enrico Signoretti and CTERA CTO Aron Brand in this one-hour live webinar as they explore file storage trends and dynamics through the lens of IT infrastructure modernization projects.

The file and cloud experts will discuss the limitations of traditional NAS architectures in today’s corporate environments and how organizations are implementing distributed cloud file storage to solve remote collaboration, ransomware protection, and unstructured data growth challenges.

Signoretti and Brand will also examine the recently published GigaOm Radar for Distributed Cloud File Storage, in which CTERA was named the leader. They will review the report’s key criteria and evaluation metrics for choosing a distributed cloud file storage platform, helping IT leaders to understand which vendors are most aligned to their needs today as well as 12-18 months down the road.

The post Data Storage for Ever Changing Business Needs appeared first on Gigaom.

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High Performance Application Security Testing – Cloud WAF Security Platforms

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This free 1-hour webinar from GigaOm Research features analyst Jake Dolezal and will focus on comparing Web Application Firewall (WAF) security platforms in an enterprise with high performance needs.

This webinar will discuss web application security mechanisms deployed in the cloud. The cloud enables enterprises to differentiate and innovate with microservices at a rapid pace. However, the cloud is just as vulnerable, if not more so, to attacks and breaches as on-premises APIs and apps are. Our focus is specifically on approaches to securing apps, APIs, and microservices that are tuned for high performance and availability. We define “high performance” as companies that experience workloads of more than 1,000 transactions per second (tps) and require a maximum latency below 30 milliseconds across the landscape.

In this webinar, we will reveal the performance tests of security mechanisms on NGINX, AWS, and Azure, specifically: ModSecurity, NGINX App Protect WAF, AWS Web Application Firewall (WAF), and Azure WAF.

Register now to join GigaOm and NGINX for this free expert webinar.

The post High Performance Application Security Testing – Cloud WAF Security Platforms appeared first on Gigaom.

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