Merchant Innovation

Google Throws Its Weight Behind Cybersecurity Startup

Internet security company Zscaler announced yesterday (Sept. 23) that it closed a $25 million continuation of its oversubscribed Series D funding round from Google Capital, bringing the company’s total funding raised in the Series D to $110 million.

The latest influx of capital will be used to support Zscaler’s global expansion and help accelerate growth of its technology and customer base, the company said.

“We are joining forces with Google Capital to help millions of organizations around the world securely adopt cloud computing, mobility and the Internet of Things,” Jay Chaudhry, CEO of Zscaler, said in a company release.

“Our new partnerships will further empower Zscaler to invest in our technology platform and grow our worldwide operations to meet ever-increasing demand.”

With the close of its Series D funding round, the cloud-based Internet security platform, which officially joined the unicorn club last month as its valuation soared north of $1 billion, has raised a total of $148 million in funding, Reuters reported.

The company claims to process more than 15 billion Internet requests and prevent more than 100 million cyberthreats each day, while securing more than 15 million users.

“Our mission is to make the Internet safe for business by delivering an amazing security platform that protects our clients and enables the strategic adoption of cloud computing, mobile devices and the Internet of Things,” Chaudhry said in a news release last month.

The investment in Zscaler is just the latest cybersecurity Software-as-a Service (SaaS)-based platform Google has shown financial interest in.

Earlier this summer Google Capital led a $100 million Series C funding round for CrowdStrike, which specializes in offering an endpoint protection platform for detecting, preventing and responding to attacks at any stage.

Google Capital Partner Gene Frantz said, "We are big believers in the two unstoppable technology trends that Zscaler is riding — the rise of mobile computing and the evolution from point solutions hosted on site to integrated cloud platforms.”

"We're thrilled to support Zscaler on their journey to make the cloud safer, which is essential for companies and great for the Internet overall," he added.

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