Tanium, a leading security and systems management firm that previously obtained investments from Salesforce, has reportedly concluded a new equity funding round that has taken the total funding raised by the company to about $1 billion.
The new investment round was unveiled on Monday through an SEC Form D filing, a notice of a spared offering of securities. In the filing the company stated that it has already sold off $150.5 million from a sum of $200 million offered to over 26 investors.
According to reliable reports, the company, prior to this funding round has raised about $900 million through 11 investment rounds. The firm’s last funding round raised more than $117 million, which also came from Salesforce Ventures.
In spite of the uncertainty about whether the Salesforce Ventures funding is included as a part of this investment or not, the approximately $1 billion investment in the company makes it the highest valued cybersecurity firm which has not conducted an IPO yet.
Orion Hindawi, Co-CEO of Tanium, back in November 2019, had stated that the company purposely did not conduct an IPO despite the tremendous amount of investment it raised, which included the two big nine-figure investment rounds that were conducted in 2018 alone.
The sole reason behind the company not going public is the CEO not believing that going public is a major success factor.
In reality, public firms generally end up taking bad decisions to cater to a short-term shareholder. Hindawi added that the company does not want to get trapped in that situation for incorrect reasons. An ideal situation might arise for the company in the future, but now is not the right time. As of now, Tanium would rather focus on serving its customers better.