How Much Did Tenable Raise? Funding & Key Investors

Tenable has successfully raised funding over five rounds, with the latest being a Post-IPO Equity round. The company is backed by notable investors, including SharesPost Investment Management and Employee Stock Option Fund.

Keep reading to explore the intricacies of Tenable's fundraising journey and the investors backing this innovative platform.

What Is Tenable?

Tenable is a prominent player in the cybersecurity industry, specializing in exposure management, cloud security, and vulnerability management. The company is headquartered in Columbia, Maryland, United States, and employs between 1001 and 5000 people.

Founded to address the growing need for comprehensive risk management solutions, Tenable offers a suite of products designed to help organizations identify and mitigate risks across their attack surfaces. The company's platform includes capabilities for asset inventory, emergency response, exposure analytics, exposure prioritization, security hygiene, and threat investigation.

How Much Funding Has Tenable Raised?

1. Series A
   • Amount Raised: USD 50,000,000
   • Date: September 2012
   • Lead Investors: Accel
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Typically used to scale the product and business operations.
2. Series B
   • Amount Raised: USD 250,000,000
   • Date: November 2015
   • Lead Investors: Insight Partners, Accel
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Fund product development, international expansion, and marketing.
3. Debt Financing
   • Amount Raised: USD 9,838,430
   • Date: October 2015
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Typically used to manage cash flow and operational expenses.
4. Secondary Market
   • Date: July 2017
   • Investor Count: 2
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Provide liquidity to early investors and employees.
5. Post-IPO Equity
   • Amount Raised: USD 255,600,000
   • Date: July 2020
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Support continued growth and expansion post-IPO.

Total Amount Raised: USD 565,438,430. Current Valuation: Not publicly disclosed.

Key Investors

• Insight Partners
  • Details: Insight Partners is a leading global private equity and venture capital firm investing in high-growth technology and software companies. They led the Series B funding round for Tenable.
  • Investment Focus Areas: Technology, software, cybersecurity
  • Notable Investments: Twitter, Shopify, DocuSign
• Accel
  • Details: Accel is a venture capital firm that focuses on early and growth-stage investments in technology companies. They participated in both the Series A and Series B funding rounds for Tenable.
  • Investment Focus Areas: Technology, cybersecurity, internet services
  • Notable Investments: Facebook, Dropbox, Slack
• SharesPost Investment Management
  • Details: SharesPost Investment Management provides liquidity solutions for private growth companies and their shareholders. They are one of the most recent investors in Tenable.
  • Investment Focus Areas: Private equity, secondary markets, technology
  • Notable Investments: Not publicly disclosed
• Employee Stock Option Fund
  • Details: Employee Stock Option Fund specializes in providing liquidity to employees of private companies by purchasing their stock options. They are also one of the most recent investors in Tenable.
  • Investment Focus Areas: Employee stock options, private equity, technology
  • Notable Investments: Not publicly disclosed

What's Next for Tenable?

As Tenable looks to the future, the opportunities for growth are vast. With a significant focus on product development, international expansion, and marketing, the company is well-positioned to capitalize on the increasing global demand for advanced cybersecurity solutions. The record-sized funding round of $250 million underscores the potential scale of these opportunities.

Future fundraising efforts could be bolstered by the successful utilization of current funds, attracting further investment to support continued growth. However, Tenable will need to navigate challenges such as managing the large influx of capital, staying ahead of competitors, and addressing the complexities of international markets. The company's ability to innovate and adapt will be crucial in maintaining its competitive edge in the dynamic cybersecurity landscape.

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