Cloudflare Raises $150 Million, Adds New Board Members

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Internet performance and security company Cloudflare announced it has raised $150 million in new funding.

Franklin Templeton led the funding for this round. It joins incumbent investors Fidelity, New Enterprise Associates, Union Square Ventures, Venrock, Pelion Venture Partners, Greenspring Associates, CapitalG, Microsoft, Baidu and Qualcomm. All of these firms combined raised a total of $330 million.

Cloudflare will use the new funding to maximize its growth, product ranges and move into new international markets.

Cloudflare also announced two new additions to its board of directors. Maria Eitel is a former president and CEO and now co-chairperson of the Nike Foundation. She also previously worked at Microsoft and the White House of former president George W. Bush. Stan Meresman was a former CFO of Silicon Graphics. He has served as board member for numerous tech firms.

“I’m honored to welcome Maria and Stan to our board of directors, Cloudflare co-founder and CEO Matthew Prince, in a statement. “Both of them bring a wealth of knowledge and experience to our board and know what it takes to propel companies forward. Our entire board looks forward to working with them as we continue to help build a better Internet.”

Cloudflare was launched in San Francisco in 2007.  Among Cloudflare’s current clients are Digital Ocean, IBM, Zendesk, Discord, MapBox, OKCupid and Adobe.