Palo Alto - November 24, 2021 - Cooley advised Lacework, a data-driven security platform for the cloud, on its $1.3 billion Series D financing round, which brings its valuation to $8.3 billion. Partners Mark Tanoury and Lauren Creel led the Cooley team advising Lacework.
Sutter Hill Ventures, Altimeter Capital, D1 Capital Partners and Tiger Global Management led the round, with participation from new investors Durable Capital, Franklin Templeton, General Catalyst, XN and Morgan Stanley's Counterpoint Global, as well as existing investors Coatue, Dragoneer, Liberty Global Ventures and Snowflake Ventures.
Lacework will use the new capital to extend its lead in the cloud security market by pursuing additional strategic acquisitions and fueling product innovation that expands its total addressable market. The company will also scale go-to-market strategies, and grow its workforce and the company's presence globally to better serve customers.
"Our growth over the last 36 months reflects the pain many businesses endure as they attempt to navigate the cloud using security products that simply aren't designed for it," David Hatfield and Jay Parikh, co-CEOs of Lacework, said in a news release. "This investment, and the partnership of these long-term investors, will help us realize Lacework's promise of becoming the most trusted cloud security platform."
Founded in 2015, Lacework offers a cloud security platform that's powered by Polygraph to automate cloud security at scale, so customers can innovate with speed and safety. Only Lacework can collect, analyze and accurately correlate data across an organization's Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP) and Kubernetes environments, and narrow down the data to the handful of security events that matter. Customers all over the globe depend on the platform to drive revenue, bring products to market quickly and safely, and consolidate point security solutions into a single platform.
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