Cybersecurity "unicorn" Tanium adds $100 million
Cybersecurity company Tanium today announced that it has raised $100 million in new venture capital funding led by existing investor TPG Capital.
Why it matters: Tanium is the most highly-valued private cybersecurity company, providing both endpoint and PC management solutions to clients that include major U.S. banks and the U.S. Department of Defense.
Why now? Tanium says that it is cash-flow positive with more than $300 million in the bank, so this round is really about providing liquidity to early employees. Among the sellers is Tanium co-founder and chairman David Hindawi, who wants to expand his philanthropic pursuits.
IPO: CEO Orion Hindawi (David's son) had said in the past that the company would go public in 2017, but new CFO Fazal Merchant (ex-DreamWorks) tells Axios that the timing is now TBD. "It's up to me and the rest of my team to make sure we're prepared for an IPO, but any timeline would be artificial."