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CloudFlare Quietly Raises $50M to Fund International Expansions

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CloudFlare, a San Francisco-based provider of security and website optimization services, announced on Tuesday that it has surpassed 1.5 million customers, and revealed a $50 million Series C funding round that it quietly closed a year ago.

The funding round was led by Union Square Ventures and Greenspring Associates, with existing investors NEA, Pelion Venture Partners, and Venrock participating.

The funding helped CloudFlare quadruple its network capacity across 23 data centers around the world and establish its London engineering office.

CloudFlare plans to add new data center locations in Latin America, the Middle East, Africa and China next year, which will help its extend its network to new and emerging markets.

“The web is about to turn 25 years old and it’s beginning to show its age,” Matthew Prince, co-founder and CEO of CloudFlare said. “Whether you’re building a traditional website, a complex online application, or the next great mobile app you need to be backed by a fast, secure network. CloudFlare has built that next generation network and is democratizing the resources that were previously available only to the Internet giants.”

In 2013, CloudFlare doubled its customer count to more than 1.5 million, contributing to a 450 percent increase in year-over-year revenues. CloudFlare also partnered with many web hosting providers to offer its services to web hosting customers, most recently partnering with Indian web host Hostocol Solutions. Earlier this year, CloudFlare hosting partners started to offer Railgun, its next generation web optimization protocol.

“At Union Square Ventures we have always believed in the transformative power of the Internet. Until recently, we have naively believed that the Internet would always be there and always be available,” Brad Burnham, managing partner at Union Square Ventures said. “We now know that the great strength of the Internet — its openness — also makes it vulnerable to malware, denial of service, and other forms of attack. We are thrilled to be working with CloudFlare to harness the collective power of the Internet to defend the network from these attacks. Importantly for us, CloudFlare’s approach does this without sacrificing the values of openness and permissionless innovation that have made the Internet such an important engine of economic growth.”

 

About the Author

Nicole Henderson is the Editor in Chief of the WHIR, where she covers daily news and features online. She has a bachelor of journalism from Ryerson University in Toronto. You can find her on Twitter @NicoleHenderson.

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