Despite the occasional hiccup, the cybersecurity market is still a magnet for investment…:
NEW YORK (Reuters) – CrowdStrike Inc and Cylance Inc, rival cybersecurity startups vying for a chunk of the surging security industry, both announced major rounds of funding on Tuesday.
CrowdStrike, a California-based firm founded in 2011, said it has raised $200 million in its series E round of financing, putting the company’s valuation at more than $3 billion.
Its rival Cylance, founded in 2012, said it has raised $120 million also in its series E, or fifth round of funding, but declined to disclose the company’s valuation.
Both firms, which provide software against cyberattacks, were founded by ex-McAfee employees who are now fierce competitors. George Kurtz, chief executive of CrowdStrike, and Stuart McClure, CEO of Cylance, sold a cybersecurity company they had co-founded to McAfee in 2004 for $86 million.