Leading VC firm Andreessen Horowitz has announced it is investing $90m into leading IT start-up Tanium, which has been described as providing the "central nervous system" for many of the world's leading banks.
The deal, which is the second largest in Tanium's history, comes as part of its first-ever venture-funded financing round, and values the company at around $900m.
The deal is Andreessen Horowitz's second largest investment, coming in just behind the $100m the firm invested in coding company GitHub in 2012. It is well-known in the technology sector for its investment in growing companies, and has backed both Facebook and Pinterest in the past.
Tanium provides service and device management for many of the world's leading organisations, allowing IT managers to access real-time information regarding the state of their infrastructure and can reportedly detect cyberattacks and outages within seconds.
Although the company refuses to release exact numbers regarding its customers, it claims to work with half of the Fortune 100, five of the top 10 largest global banks and four of the top 10 global retailers.
"Enterprise networks have grown exponentially during the last decade while the technology to secure and manage these systems has stagnated. The result is that simple, preventable issues result in debilitating outages and attacks cannot be identified or managed until it's too late," said Orion Hindawi, co-founder and CTO of Tanium.
"By completely rethinking how IT professionals manage, secure and maintain the end points in their network Tanium gives them the ability to interrogate, manage update and secure their systems in a fraction of the time."
The company said that it will use the funding to support continued product innovation and company expansion. As part of the deal, Andreessen Horowitz partner Steven Sinofsky will join the board of Tanium, which was formed in 2007 by David and Orion Hindawi.
"The Tanium team has accomplished nothing short of a complete reinvention of how IT Professionals manage, secure, and maintain the end-points in their network: every node on the network can now be interrogated, managed, updated, and secured, instantly from a browser," Sinofsky wrote in a company blog post.
"We love the opportunity to partner with enterprise companies that are either working to radically improve the way a given IT need is met with software -- or transforming the IT landscape by re-creating or re-defining the traditional categories with unique software," he added.
Established in 1957, BCS, The Chartered Institute for IT, promotes wider social and economic progress through the advancement of information...