NEW YORK: CrowdStrike said on Tuesday it has raised $200 million in its latest round of funding, putting the cloud-based cybersecurity company’s valuation at more than $3 billion.

Using artificial intelligence, CrowdStrike offers cloud-delivered protection that allows companies to detect possible threats before a breach occurs.

The series E round of financing was led by General Atlantic, Accel and IVP, with participation from existing investors CapitalG, an investment arm of Google parent company Alphabet Inc, and March Capital, CrowdStrike said.

The latest round of funding comes as investors have been wary of many companies ability to advance their software to stay ahead of hackers and attacks.

In March, Reuters reported that Tenable, a cybersecurity software maker, was planning an initial public offering that could come as early as this fall. That would make it one of the few venture capital-backed cyber security companies to pull off an IPO in recent years if it proceeds.

Published in Dawn, June 20th, 2018