Symantec Raises $100M in Series B

Symantec has successfully raised $100M in a Series B at a $4.65B valuation led by Broadcom.

Company Overview

Symantec is a Cybersecurity company headquartered in Tempe, AZ, founded in 1982 with 10000+ employees.

Cyber defense software and services

Fundraising Details

• Amount Raised: $100M
• Round Type: Series B
• Valuation: $4.65B
• Date: 2024-07-01
• Investors: Broadcom

About Symantec

Cyber defense software and services The company is positioned in the Cybersecurity sector, serving a growing market with innovative solutions.

Key Information

• Headquarters: Tempe, AZ
• Founded: 1982
• Team Size: 10000+
• Industry: Cybersecurity

What This Means

This funding round demonstrates strong investor confidence in Symantec'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. Symantec's successful fundraising reflects the strong fundamentals and growth potential in this space.

Valuation Milestone

Reaching a $4.65B valuation marks an important milestone for Symantec, positioning the company among notable players in the Cybersecurity industry.

Looking Ahead

With this new capital, Symantec 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 Symantec, visit their headquarters at Tempe, AZ.