Dallas-based security-as-a-service startup StackPath recently emerged from stealth with $180 million in funding on top of four key acquisitions including MaxCDN, Cloak, Fireblade and Staminus. The company aims to provide a more secure Internet by fighting off hackers once and for all. The massive funding is spearheaded by $150 million from private equity fund Abry Partners and another 30 million from what has been described as “family and friends.” The funds are being used to further develop existing infrastructure, drive acquisition strategy, and add new services.
The launch heralds the next venture for chairman and CEO Lance Crosby – the founder and former CEO of SoftLayer Technologies, which was acquired by IBM in 2013 for $2 billion. He intends to tackle the ever-expanding issue of cyber security by banking on the assertion of creating a scalable security platform and going big with an adaptable SaaS-type product.
There are a number of startups in the realm of Internet security that are taking new approaches to deal with breaches using new proficiencies around artificial intelligence to help design new and more effective products. Stackpath sees an opportunity in offering a wide range of services in an environment where enterprises are increasingly purchasing stuff such as IT services and security software on a pay-as-you-go basis instead of huge expenditures for products on huge contracts that may also include expensive hardware.
“The Internet is where the world does business. It may be the single most important utility supporting businesses today, yet we continue to overtax the aging infrastructure and struggle to make it secure,” said Crosby. “The StackPath platform is an integrated response to a fragmented problem created by too many individual, appliance-based, bolt-on security solutions. It’s time to give businesses Internet services that have security built in, not bolted on — so they can be reliable guardians of their most precious assets, ” Crosby added.
A Team to Fulfill the Vision
In instituting his most recent endeavor, Crosby formed a solid leadership team. The new hires include:
- Andrew Higginbotham, COO and president, who had served as senior vice president of cloud and technology at CenturyLink, a global communications company and one of the world’s biggest managed hosting and cloud providers.
- Kimberly Sheehy, CFO, who joins from Cyrus One. She is expected to provide the systems required for StackPath to scale quickly.
As aforementioned, StackPath is aiming to build a platform to offer customers an assortment of security services, but the company noted that it will start with secure content delivery, presumably using technology from MaxCDN. It will launch this month and will be priced in tiers from $20/month to $600/month. Right off the bat, they are including the full cloud security suite with all plans, even at $20. Higher priced plans include more bandwidth and more domains. All plans include 24/7 support by phone, email, and chat.
Key Acquisitions to Stackpath’s Platform
Aside from the proprietary technology crafted by its own team and acumen from years of experience creating massive global infrastructure, StackPath called up top notch technology and intellectual property that will push the development of the platform. MaxCDN, Cloak, Fireblade and Staminus were acquired to bring an array of services and customers. MaxCDN alone brings more than 16,000 customers while Cloak brings 15,000. As StackPath launches, it already has over 30,000 customers ranging from early-stage startups to Fortune 100 companies.
MaxCDN is a leading NextGen CDN company that is built on Varnish and Nginx. It is already a well-established business with 19 global PoPs The company uses caching technology to accelerate applications and websites. StackPath said it has already integrated the technology to its new platform with built-in security features like WAF and DDoS
Cloak is a leading consumer VPN technology company with Mac and iOS applications that allow customers to securely surf the net by using encrypted tunnels. The company is already working on Android and Windows. Cloak’s service is particularly handy in today’s work environment where people bring with them their personal devices.
Fireblade is an Israel-based web application firewall provider. The company processes traffic data in real-time and rules quickly to respond to botnet attacks and emerging threats. It has also been integrated into StackPath’s platform
Lastly, Staminus is a provider of automated cloud and appliance hybrid DDoS protection. Although its technology is anchored on appliances and a worldwide network of scrubbing centers, StackPath said its DDoS mitigation capabilities have been fully integrated into its PoP and network architecture.
So what do you think? StackPath still has a long way to go integrating 4 large companies into one streamlined service, but will this eventually be a legitimate CloudFlare competitor? Let us know in the comments!