Web security and performance company CloudFlare has revealed that it has managed to raise $50 million (€36.4 million) in a Series C round. The thing is that it has kept it a secret for a full year.
The funding round comes from Union Square Ventures and Greenspring, who have joined old-time investors NEA, Pelion Venture Partners and Venrock. The money quadrupled the company’s network capacity across some 23 global data centers. CloudFlare has also opened an engineering office in London.
To date, it has managed to attract investments of $77 million (€56.07 million), which puts the company’s value at about $1 billion (€728 million), AllThingsD reports.
“We’ve been on a mission to build a better Internet, and we did not feel we needed to make a big deal of the funding to do that,” said Co-Founder Michelle Zatlyn, explaining why they have chosen to keep everything under wraps for so long.
The company has also announced that its revenue went up about 450 percent, although no numbers have been provided. It is apparently going to become profitable in January.
CloudFlare offers various services, including site protection from malware and other forms of attack, but it also helps speed up the site.