Total amount raised
$565.4 Millions
Latest funding date
07/01/2020
Location
Tenable has successfully raised significant funding over multiple rounds, with its most recent funding type being Post-IPO Equity. The company offers a range of cybersecurity solutions, including an AI-powered exposure management platform.
Keep reading to explore the intricacies of Tenable's fundraising journey and the investors backing this innovative platform.
What Is Tenable?
Tenable, founded in September 2002, is a cybersecurity company based in Columbia, Maryland. The company was established by Jack Huffard, Renaud Deraison, and Ron Gula.
Specializing in exposure management, Tenable offers solutions to identify and mitigate security risks across IT, cloud, and operational technology environments. Their platform unifies security visibility and insight, enabling organizations to manage vulnerabilities effectively.
With a workforce of 1001-5000 employees, Tenable continues to innovate in the cybersecurity space, providing comprehensive tools to help organizations reduce business risk.
How Much Funding Has Tenable Raised?
- Series A
- Amount Raised: $50M
- Date: September 2012
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Early-stage growth and development.
- Debt Financing
- Amount Raised: $9.8M
- Date: October 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and short-term financial needs.
- Series B
- Amount Raised: $250M
- Date: November 2015
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Product development, international expansion, and marketing.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: July 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Post-IPO Equity
- Amount Raised: $255.6M
- Date: July 2020
- Lead Investors: SharesPost Investment Management, Employee Stock Option Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel further growth and innovation in cybersecurity solutions.
Total Amount Raised: $565.4M. Current Valuation: Not publicly disclosed.
Key Investors
The major investors in Tenable include Insight Partners, Accel, SharesPost Investment Management, and Employee Stock Option Fund. Below are the details for each investor:
- 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 Tenable's Series B funding round.
- Investment Focus Areas: High-growth technology, software companies.
- Notable Investments: AirWatch, which was later acquired by VMware Inc.
- Accel
- Details: Accel is a venture capital firm that focuses on early-stage and growth-stage investments in technology companies. They participated in Tenable's Series B funding round and had previously invested in the Series A round.
- Investment Focus Areas: Early-stage startups, growth-stage companies, technology.
- Notable Investments: Not publicly disclosed.
- SharesPost Investment Management
- Details: SharesPost Investment Management is an investment firm that provides liquidity solutions for private growth companies and their shareholders. They were involved in Tenable's Post-IPO Equity round.
- Investment Focus Areas: Private growth companies, liquidity solutions.
- 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 participated in Tenable's Post-IPO Equity round.
- Investment Focus Areas: Employee stock options, private companies.
- Notable Investments: Not publicly disclosed.
Note: The information about notable investments and specific details for some investors was not available in the provided sources.
What's Next for Tenable?
With a substantial $250 million raised in their Series B round, Tenable is poised for significant growth. The funds will be directed towards product development, international expansion, and marketing, presenting vast opportunities for the company to enhance its market presence and innovate in cybersecurity.
As the cybersecurity market continues to expand, Tenable's ability to attract future investments seems promising. However, the company will need to navigate challenges such as intense competition and the complexities of international growth. Effective utilization of their current capital will be crucial in maintaining their competitive edge.
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