Temasek leads $550m round of US cybersecurity firm

Orca Security, a US-based cybersecurity firm, has raised US$550 million in an extended series C funding round. Singapore’s Temasek led the round, which values the firm at about US$1.8 billion.

CapitalG, Alphabet’s independent growth fund, also participated in the round, along with Redpoint Ventures, GGV Capital, Iconiq Capital, Lone Pine Capital, Stripes, Adams Street Partners, Willoughby Capital, and Harmony Partners.

Photo credit: Orca Security

Orca Security said it will use the new funds to expand its global footprint and work with more firms.

Besides the Asia-Pacific region, the cybersecurity firm plans to expand its presence in the Europe, Middle East, and Africa region as well as in the UK. The company plans to have over two dozen employees working in its London office by the end of the year.

The three-year-old startup has already partnered with companies in markets like Japan, India, Australia, and New Zealand. These partner firms include Hitachi Solutions, Zip, and Paid.

“The breadth of Temasek’s portfolio and networks will help deepen our penetration into the Asia-Pacific region and beyond, and into key industries such as telecom, financial services, transportation, consumer goods, and more. Orca Security plans to have over a dozen employees in the Asia-Pacific region by the end of 2021,” Avi Shua, CEO and co-founder of Orca Security, said in a statement.

The startup raised US$210 million in a funding round at a valuation of US$1.2 billion in March. It also raised US$20.5 million in a series A round in May last year, followed by a US$55 million series B funding round in December, according to TechCrunch.