Strider Technologies, Inc. (South Jordan, Utah) closed a $55 million Series C Round led by Pelion and joined by AVP, Valor Equity Partners, DataTribe and Cyfr.
Investment will support Strider's rapid revenue growth and accelerate development of its AI-driven strategic intelligence platform; will also enable the company to fuel international expansion and broaden its reach in the public sector
SALT LAKE CITY, Sept. 12, 2024
Strider Technologies, Inc. (South Jordan, Utah) has announced today that it has closed a $55 million Series C round of funding. With this investment, Strider plans to continue advancing its AI-driven capabilities into its integrated global intelligence platform, expand operations to new geographies in Europe and Asia, and more aggressively address the public sector market.
The round was led by Pelion Venture Partners and marks the largest single investment in the firm's history. Blake Modersitzki, Managing Partner at Pelion, will join Strider's Board of Directors. The round includes participation from AXA Venture Partners (AVP), and existing investors Valor Equity Partners, DataTribe and Cyfr Capital.
"Strider has created a new market category with its groundbreaking global intelligence platform, which empowers organizations to proactively address nation-state threats," said Blake Modersitzki, Partner at Pelion Venture Partners. "They are solving a massive problem in a massive market, and we are excited to be in business with such visionary founders, building a world-changing company and also doing immense good along the way."
"At Strider, our mission is to protect the ideals and innovations of the free world," said Greg Levesque, CEO & Co-founder of Strider. "Organizations across industry, government, and academia are on the frontlines of this new global geopolitical battlefield, under constant attack from nation-state adversaries. This investment led by Pelion will accelerate Strider's ability to scale our platform and arm more organizations around the world with the strategic intelligence they need to compete."
The world is in a new era of global intelligence. The traditional nation-state vs nation-state approach is gone as superpowers battle for geopolitical, economic, technological, and data dominance. China, Russia, Iran, and other adversaries are embracing a whole-of-society approach that puts private companies and leading academic institutions on the frontlines of this new conflict.Fortune 500 companies, government agencies, and the world's most prominent research institutions are subject to persistent intelligence, talent recruitment, and supply chain operations from nation-state actors.
Strider's integrated global intelligence platform leverages AI, open source data, and proprietary methodologies. It enables organizations to proactively secure critical assets and inform decision-making so that they can better compete in the global economy.
"Strider is advancing the state-of-the-art in global intelligence, enabling organizations working with advanced technologies to go on offense to secure their innovation," said Alex Scherbakovsky, General Partner at AVP. "Industry, government, and research institutions have been searching for ways to proactively mitigate state-sponsored threats to technology, talent, and supply networks. We are excited to support Strider's efforts to develop new capabilities and meet the global demand for its intelligence platform. As a transatlantic investment firm, we are excited to support Strider's international expansion and help Strider achieve its mission of enabling organizations and governments to secure their innovation."
Since launching in May 2019, Strider has secured $110 million in venture capital funding, grown to nearly 200 employees, and secured multiple patents, while establishing its position as a first mover and category creator.
About Strider
Strider is the leading strategic intelligence company empowering organizations to secure and advance their technology and innovation. Leveraging AI technology alongside proprietary methodologies, Strider transforms publicly available data into critical insights. This increased intelligence enables organizations to proactively address and respond to risks associated with state-sponsored intellectual property theft, targeted talent acquisition, and supply chain vulnerabilities. Strider has operations in 10 countries across the globe with offices in Salt Lake City, Washington, DC, Tokyo, and London.
See introductory November 2020 TechBuzz article about Strider here.
About Pelion Venture Partners
Originally formed in 1986 as Utah Ventures, Pelion Venture Partners has raised over $2 billion across its family of funds. Focused primarily on early stage technology companies, some of Pelion's more notable investments include Cloudflare, Divvy, Integral Ad Science, Weave, LVT, Kapital, and Redo among others.
For more information about Pelion, visit www.pelionvp.com.
About AVP
AVP is a global venture capital firm specializing in high-growth, technology-enabled companies, managing more than $2 billion in assets across four investment strategies: Venture, Growth, Late Growth, and Fund of Funds. Since its establishment in 2016, AVP has invested in more than 60 technology companies in Venture and Growth stages in the US and Europe. With offices in New York, London, and Paris, AVP supports companies in expanding internationally and provides portfolio companies with tailored business development opportunities to further accelerate their growth.
For more information about AVP, visit www.axavp.com.