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Baidu Joines $110M Funding Round In CloudFlare

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U.S. Internet performance and security firm CloudFlare has raised US$110 million in a new funding round led by Fidelity Management and Research Company, with participation from Google Capital, Microsoft Corp, Baidu Inc., and Qualcomm Ventures.

Existing investors New Enterprise Associates, Pelion Venture Partners, Venrock, Union Square Ventures, and Greenspring also participated, says a company announcement.

The latest round will bring CloudFlare’s total funding to US$182 million.

"Our partnership is the first step towards extending the accessibility of this innovative technology across Baidu’s network in China," says Zhnag Ya-Qin, president of Baidu.

CloudFlare says it will use the proceeds on accelerating its growth, extending product ranges and international growth.

CloudFlare says its customer base has reached four million in over 30 countries. In the past month, the company has mitigated more than 200 billion cyber attacks on behalf of its customers.

Launched in 2009, CloudFlare turned profitable in 2014, says the statement. The company is currently running at a gross profit margin of 75%.

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