CloudFlare Raises $150M, Likely Delaying Its Expected IPO

CloudFlare raised $150 million in its latest round of funding, which was led by Franklin Templeton. The startup also made new appointments to its board of directors. This is the company’s second significant funding round. In 2015, it raised $110 million and was valued at $3.2 billion. (The company declined to give an updated figure with its latest funding round.) At that time CloudFlare co-founder and CEO Matthew Price told Fast Company that it was setting its sights on Amazon Web Services (AWS) and the cloud provider market. CloudFlare wears quite a few hats. While part of its main business is content delivery network (CDN) services — it claims to support over 13 million web domains — it also has a stake in both cloud and security. With all of its businesses, it seeks to eliminate hardware and act as an internet edge service provider.