CloudFlare, a San Francisco-based startup that protects web sites from security threats and speeds up their load times, has been in talks to raise funding at a valuation that’s around $1 billion, according to multiple sources familiar with the discussions.
Apparently on the back of the company’s growth, there was inbound interest during the last three to four months with at least one firm agreeing to north of a $1 billion valuation. A few other venture firms have given pushback, saying that a $1 billion post-money valuation is too high.
The company itself says it has no need to raise funding, with the majority of its last $20 million round still in the bank. (And no, they didn’t plant this story because I heard about it through other backchannel chatter about Sand Hill deal flow.)
“Cloudflare’s team is working to address some of the Internet’s hardest challenges. We’re literally building a faster, safer, smarter web,” the company’s chief executive Matthew Prince told me. “We’re in a fortunate position where we don’t need to raise capital and have no immediate plans to do so.”