Cloudflare
Cloudflare captured the market’s attention in 2019 with a massive New York Stock Exchange initial public offering that raised $525 million on a valuation of $4.4 billion. The IPO came just six months after Cloudflare raised $150 million in a Series E round led by Franklin Templeton to support its growth, extend its product ranges and continue international expansion into new markets.
All this capital has made it possible for Cloudflare to go after more customers, with the San Francisco-based security and performance services vendor growing revenue by 48 percent in the first nine months of 2019 to $203 million. Cloudflare also used the cash to boost its headcount by 45 percent over 2019 to 1,275 people, with the most aggressive hiring coming in the sales and business development spaces.
Cloudflare has also redoubled its efforts around the channel, rolling out a more robust and structured partner program that extend beyond enterprise resellers, referral partners OEM partners to include service providers that want to develop practices around Cloudflare solutions such as SIs, MSPs, and MSSPs. The program now offers multiple tiers for referral, revenue-generating and OEM partners.
