Tanium raises $200 million in latest funding, valuation at $6.5 billion

(Reuters) - Tanium Inc said on Tuesday that it raised an additional $200 million in its latest funding round led by investment firm Wellington Management, valuing the U.S. cyber security start-up at $6.5 billion.

The funding round, which also included fund manager Baillie Gifford & Co and Adage Capital Management LP, comes after sources said in May that TPG’s growth capital arm raised its stake in the security firm with a $175 million investment.

According to those sources, the company was considering an initial public offering, but has not yet decided to launch.

Other investors in Tanium include Andreessen Horowitz, IVP, T. Rowe Price, Citi Ventures and Franklin Templeton Investments.

Founded in 2007, Tanium provides computer system security and management for government agencies and companies, allowing them to scan and assess every device on a network within seconds. Tanium’s customers include 12 of the top 15 U.S. banks and six of the top 10 U.S. retailers, as well as the U.S. Department of Defense.

Emeryville, Calif.-based Tanium said it had about $320 million in cash and equivalents, and positive operating cash flow of $25 million as of Jan. 31.

Reporting by Sonam Rai in Bengaluru; Editing by Bernard Orr