Matthew Prince '00's Cloudflare Raises $50M Venture Capital
Behind the aesthetically pleasing Web design, crave-worthy ecommerce offerings, and thought-provoking content, the Internet is a war zone. Every Web publisher is constantly under attack. Among those companies attempting to stand between them and the attackers, CloudFlare may be the most formidable and, just as crucially, is certainly among the most trustworthy. Today the company is announcing a $50 million Series C round led by Union Square Ventures (USV), with participation from Greenspring and existing investors NEA, Pelion Venture Partners, and Venrock.
Unlike most funding announcements, CloudFlare’s latest round isn’t a reflection of where the Web optimization, security, and content delivery company is today. Rather, it’s a reflection of where it was more a year ago, in December 2012 – when this round actually closed.
In the 12 months since, all CloudFlare has done is grow its revenue by 450 percent and surpassed more than 1.5 million website customers, a year-over-year increase of more than 100 percent. Today, over 5 percent of all requests across the Web are powered by CloudFlare, according to CEO Matthew Prince, and the company now serves 1 trillion requests across its network each month.