Series B Investment Will Enable Strider to Meet Aggressive Demand for Strategic Intelligence
SALT LAKE CITY, April 27, 2022 /PRNewswire/ — Strider Technologies, Inc. (“Strider”), the leading provider of strategic intelligence, announced today that it has closed $45 million in Series B funding. The round was led by Valor Equity Partners, with participation from existing investors DataTribe, Koch Disruptive Technologies, and One9 Ventures. Costa Saab, from Valor Equity Partners, will join Strider’s Board of Directors.
Strider is the leading provider of proprietary data and software enabling Fortune 500 companies, government agencies, and research institutions to identify, manage, and respond to nation-state-directed activities targeting their personnel, intellectual property (IP), and supply chains. Since launching in May of 2019, Strider has secured $57 million in venture capital funding, fueling product development and team growth, while securing Strider’s position in a new market category.
The investment comes at a time of rapid growth for Strider. In 2021, Strider increased annual recurring revenue by over 450 percent with a customer retention rate of 100 percent. Strider’s revenue growth came from premier Fortune 500 companies across semiconductor, pharmaceutical, aerospace and defense, and energy & chemicals industries, and contracts with government agencies.
“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,” said Costa Saab, Chief Technology Officer of Valor Equity Partners, and former Senior Executive at the Central Intelligence Agency. “Strider’s solutions are groundbreaking and critical for any organization operating in this increasingly competitive and complex global marketplace. We are proud to support such an important mission and look forward to Strider’s continued growth.”
The $45M investment will allow Strider to enhance existing products, introduce new capabilities, and expand its team and geographic presence to support demand across industry and government markets. Strider will also look to expand its team of intelligence specialists, data scientists, software engineers, and professional and operational support staff all dedicated to protecting the ideals and innovations of the free world.
“Since day one, Strider has been focused on delivering data and software to our customers that empower them to protect their talent, intellectual property, and supply chains. Strider’s growth, and this investment, are further validation of our critical mission,” said Greg Levesque, CEO & Co-Founder of Strider. “We are extremely proud to partner with Valor Equity Partners as well as the continued support from our existing investors.”
“Strider provides a one-of-a-kind technology that empowers organizations to combat the growing nation-state sponsored economic espionage challenge,” said Mike Janke, Co-founder of DataTribe. “Their work is revolutionary, and we are proud to continue to support Strider as they scale their capabilities to help more organizations in need.”
Strider is revolutionizing the way companies, government agencies, and research institutions protect their innovation and compete in a new era of global strategic competition. Our trailblazing technology and intelligence solutions enable clients to proactively identify, manage, and respond to nation-state-directed IP theft and supply chain vulnerabilities. Strider has operations in Salt Lake City, UT, Washington, D.C, and London, U.K.
About Valor Equity Partners
Valor Equity Partners is an operational growth investment Firm focused on investing in high-growth companies across various stages of development. For decades, Valor has served its companies with unique expertise to solve the challenges of growth and scale. Valor partners with leading companies and entrepreneurs who are committed to the highest standards of excellence and the courage to transform their industries. For more information on Valor Equity Partners, please visit www.valorep.com.
Contact: Dan Palumbo, Dan@Vrge.us, 301.875.2356
SOURCE Strider Technologies, Inc.