With Crowdstrike about to go public, we thought it would be interesting to look at a few companies in the Prime Unicorn Index that are in the same industry niche. We’ve compared 7 companies by valuation, investment amount, and price per share by round of financing. Last, we take a look at Crowdstrike’s valuation vs. revenue.

Valuation: Crowdstrike and Tanium lead the way in terms of valuation. Tanium claims to be worth closer to $6 billion, but that is after a few common stock rounds that we cannot currently confirm the price for. Therefore, we are going to keep Tanium at a conservative $3.85 billion post-money after their Series G round. Crowdstrike comes in at $3.27 billion post-money valuation after their Series E round in June 2018.

Investment Amount: Crowdstrike and Lookout both raised around $200 million in their last round of financing. If you look at total investments, Tanium has raised around $287 in preferred stock rounds and around $300 million in their most recent common stock rounds. Crowdstrike’s total investments come in around $487 million and Lookout comes in at $330 million.

Price Per Share: Crowdstrike’s most recent preferred stock price per share was $16.46, and has had all up rounds of financing (meaning the most recent price per share was higher than the previous). Venafi had two down rounds with their Series C and D, but were able to bring it back up with Series E, F, F-1 and G (Series G price per share is $2.6627).

Crowdstrike’s Revenue Multiple: On the heels of Crowdstrike’s IPO it is interesting to note the revenue multiple, if you were to compare the Series E valuation with the 1/31/2019 revenue reported on their S-1 it puts them at a 13X multiple. If you were to compare the same Series E valuation against the 1/31/2018 revenue it would give them a 28X multiple. Being their year ended is in January it can make you look at the numbers in two ways. A more conservative approach would be to stick with the 13X, and see what happens when they debut.

 

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