UPDATED 21:51 EDT / APRIL 27 2022
by Duncan Riley
Strategic intelligence platform startup Strider Technologies Inc. announced today that it has raised $45 million in new funding to enhance its products, introduce new capabilities and expand its geographic presence to support demand across industry and government markets.
Valor Equity Partners led the Series B round, with DataTribe, Koch Disruptive Technologies and One9 Ventures also participating. Including the new funding, Strider has raised $57 million to date.
Founded in 2019, Strider provides data and software designed for Fortune 500 companies, government agencies and research institutions to protect their innovation and compete in an era of global strategic competition. The company’s service identifies, manages and responds to nation-state-directed activities targeting personnel, intellectual property and supply chains.
Strider argues that governments are leveraging commercial means to achieve national strategic objectives. With this increase in economic statecraft, Striker says, companies and organizations are now on the front line of a new geopolitical battle.
The company’s platform illuminates risks to an organization through actionable data and what it calls cutting-edge technology. The Strider Intelligence Platform is claimed to be the first software-as-a-service platform to deliver strategic intelligence specifically designed to visualize, manage and respond to risks across an organization.
In a time of increased nation-state hacking and espionage activity, Striker has not surprisingly seen substantial growth. The company saw an increase in annual recurring revenue by over 450% in 2021, off an undisclosed base, with a customer retention rate of 100%. Strider’s customers include Fortune 500 companies in the semiconductor, pharmaceutical, aerospace and defense, and energy and chemicals industries. Strider also has contracts with government agencies.
Strider will in part use the new funding to expand its team of intelligence specialists, data scientists, software engineers and professional and operational support staff.
“Strider is the first company to arm its customers with data intelligence to close the critical security gaps that nation-state actors have exploited for decades,” Costa Saab, chief technology officer of Valor Equity Partners and a former senior executive at the Central Intelligence Agency, said in a statement. “Strider’s solutions are groundbreaking and critical for any organization operating in this increasingly competitive and complex global marketplace.”
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