Security Firm FireEye Raises Extra $50M, Says It’s Preparing Ground For IPO

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Security company FireEye has announced it has raised an additional $50 million in venture funding, bringing its total funding to-date to more than $100 million. The new funding comes from new and existing investors — including Sequoia Capital, Norwest Venture Partners, Goldman Sachs, Juniper Networks, Silicon Valley Bank, and others.

FireEye sells enterprise security products and has a focus on what it describes as “next generation threats” — namely zero day and targeted attacks which it says can bypass “traditional” network defenses. Its security products are designed to protect against web-based cyber attacks, email threats and malware.

The company, which was founded back in 2004, told VentureBeat it plans to use the money to bring in new executive talent and prepare for an IPO later this year. “We have not filed for public and we’re looking at this as an important time … to expand ourselves in a private company way that allows ourselves to do the things we need to do to sustain ourselves in a public company way,” CEO Dave DeWalt told VentureBeat in an interview. FireEye announced the appointment of six new execs today.

According to FireEye other priorities for the financing are ongoing international expansion and product development, as well as scaling its operations and supporting a rapidly growing customer base. FireEye said its business expanded significantly in 2012, taking more than $100 million in bookings and more than 100 per cent booking growth. It also grew its partner and customer base to more than 1,000 organizations, and says more than a quarter of the Fortune 100 are deploying its products.

The six new executive appointments FireEye announced today are: Ken Gonzalez as vice president of corporate development; Manish Gupta as senior vice president of products; Tony Kolish as senior vice president of customer services; Sridhar Jayanthi as vice president, managing director, and head of India operations; Barbara Massa as vice president of human resources; and Dawn Song, as engineering fellow.