Crowdstrike
In 2011, Warburg Pincus invested in Crowdstrike, a leader in next-generation endpoint protection. Crowdstrike’s original vision was an architecture with a single agent on the endpoint with a single (and exclusively cloud-based) back end, which would enable a family of different products, all with a common infrastructure and shared data. Crowdstrike started with a single product, EDR (endpoint detection and response – effectively a DVR for activities on the computer), but this product was built on a platform that was architected to do more. As of 2020, Crowdstrike has over a dozen products, all built on this common architecture, and analyzes more than 100b+ events per day from over 11m sensors deployed. Warburg Pincus incubated Crowdstrike and helped form the company’s initial business plan as its seed investor. The firm provided strategic and tactical advice and committed to an “line of equity” for future financings. As Crowdstrike scaled, Warburg Pincus helped build out the company’s core team by assisting with the hiring of key executives across functional areas and the onboarding of independent board members. Warburg Pincus was Crowdstrike’s largest shareholder from inception through its IPO on the Nasdaq in June 2019, supporting growth from $0 to $686m of annual recurring revenue by the time the firm exited its investment in 2020.
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