Cloudflare raised USD $150 Million in latest Funding Round

Cloudflare has announced that it has recently raised USD $150 Million in the latest Series E round of funding. The investment round was led by Franklin Templeton.

However, Cloudflare did not disclose the valuation at which it raised the funds in the latest funding round.

Founded in 2009, the San Francisco, California based company is leading Internet performance and security company that routes more than 10 trillion requests per month which account for 10 percent of all Internet requests. Cloudflare protects and accelerates any Internet application online without adding hardware, installing software, or changing a line of code.

The announcement also said that the company has appointed two new directors, Stan Meresman, former CFO of Silicon Graphics, and Maria Eitel, founder and co-chair of the Nike Foundation.

Executive Opinion

Co-founder and CEO of Cloudflare, Matthew Prince, said, "I’m honored to welcome Maria and Stan to our board of directors. Both of them bring a wealth of knowledge and experience to our board and know what it takes to propel companies forward. Our entire board looks forward to working with them as we continue to help build a better Internet."

The newly appointed board of director, Stan Meresman said, “Cloudflare’s technologies, customer base, and global network have helped propel the company to a position of leadership in the Internet ecosystem. I look forward to lending my skills and expertise to Cloudflare’s board in order to continue this growth and make even more of an impact.”

Total Funding

Earlier Reuters reported that the company is looking forward to IPO in the first half of this year that could value it at more than $3.5 billion. The announcement did not mention how the company plans to use the newly raised funds.

Including the latest funding round, Cloudflare has raised USD $332.1M in total according to CrunchBase.

In December 2018, Cloudflare added ten new data centers, expanding its network to a total of 165 cities across the world.