Duo Security Raises $70M in Series D

Duo Security has successfully raised $70M in a Series D at a $1.17B valuation led by Benchmark, Redpoint Ventures.

Company Overview

Duo Security is a Cybersecurity company headquartered in Ann Arbor, MI, founded in 2010 with 700+ employees.

Two-factor authentication platform

Fundraising Details

Amount Raised: $70M
Round Type: Series D
Valuation: $1.17B
Date: 2024-07-01
Investors: Benchmark, Redpoint Ventures

About Duo Security

Two-factor authentication platform The company is positioned in the Cybersecurity sector, serving a growing market with innovative solutions.

Key Information

Headquarters: Ann Arbor, MI
Founded: 2010
Team Size: 700+
Industry: Cybersecurity

What This Means

This funding round demonstrates strong investor confidence in Duo Security's vision and execution. The capital will likely be used to:

Scale Operations: Expand the team and operational capacity
Product Development: Enhance existing products and develop new features
Market Expansion: Enter new markets and strengthen presence in existing ones
Technology Investment: Invest in infrastructure and technology capabilities

Industry Context

The Cybersecurity sector continues to attract significant investment as companies innovate to meet evolving market demands. Duo Security's successful fundraising reflects the strong fundamentals and growth potential in this space.

Valuation Milestone

Reaching a $1.17B valuation marks an important milestone for Duo Security, positioning the company among notable players in the Cybersecurity industry.

Looking Ahead

With this new capital, Duo Security is well-positioned to execute on its growth strategy and continue building innovative solutions in the Cybersecurity space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.

This fundraising news was reported on 2024-07-01. For more information about Duo Security, visit their headquarters at Ann Arbor, MI.