PRESS RELEASE
Santa Cruz, California – January 25, 2024 – Bastille Networks, Inc., a leading provider of wireless threat intelligence technology to the high tech, banking and intelligence community, is pleased to announce a $44 million Series C investment, led by its new investor: Growth Equity at Goldman Sachs Asset Management (Goldman Sachs). Existing investor Bessemer Venture Partners joined Goldman Sachs in the Series C round. Investors in previous rounds include Comcast, Bessemer and individual investors who have supported the Company since its seed stage. The capital will be used to support the company’s high growth and expansion into new markets.
Growth Equity at Goldman Sachs Asset Management is dedicated to investing in high-growth companies with strong market positioning and durable business models. Zartasha Chaudhry, from Goldman Sachs, will join Bastille’s Board of Directors to advise on the company’s next phase of growth.
With the proliferation of radio frequency devices in people’s pockets, buildings, businesses and industry, there has been an explosion of wireless vulnerabilities that are undetectable by existing security technologies. Bastille offers its commercial customers the ability to detect every wireless device in every facility, observe the behavior of every device, and evaluate traffic to identify threats that would otherwise not be visible. Bastille then provides customer security teams with the locations of any devices that violate their security policies. A key design feature of Bastille technology is the ability to integrate with the customer’s existing security systems and procedures.
“This $44 million investment from Goldman Sachs, paired with a shared vision for how our unique offering will help customers secure their radio frequency airspace, is a clear indicator of the strength of Bastille products,” he said Chris Risley, CEO of Bastille. “Bastille has tripled annual recurring revenue over the past year and is on track to more than double ARR again this year. Given their product experience as Bastille clients, we are excited to deepen our relationship with Goldman Sachs by engaging them as investors.”
“Bastille has transformed the wireless threat detection space by building an advanced, multi-layered platform that provides continuous, real-time wireless threat intelligence. Our investment reflects our thesis that as the sophistication of wireless threats continues to grow, Bastille is poised to meet the needs of clients in the corporate and federal sectors,” said Zartasha Chaudhry, vice president of Growth Equity at Goldman Sachs Asset Management.
About Bastille Networks
Bastille is the leader in wireless enterprise threat intelligence through software-defined radio. Bastille provides full visibility into known and unknown mobile, wireless and Internet of Things devices within a company’s corporate airspace, collectively known as the Internet of Radios. Through its patented radio and machine learning technology, Bastille detects, identifies and locates threats, providing security teams with the ability to accurately quantify risk and mitigate airborne threats that could pose a danger to network infrastructure. To find out more visit https://bastille.net or follow us on LinkedIn.
Learn about Growth Equity at Goldman Sachs Asset Management
Goldman Sachs (NYSE: GS) is a leading global alternative investor, with more than $450 billion in assets and more than 30 years of experience. The firm invests across the full range of alternatives, including private equity, growth equity, private credit, real estate, infrastructure and sustainability. Customers access these solutions through direct strategies, customized partnerships and open architecture programs.
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep experience across all sectors and markets.
The alternative investment platform is part of Goldman Sachs Asset Management, which provides public and private markets investment and advisory services for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has more than $2.8 trillion in assets under supervision globally as of December 31, 2023.
Since 2003, Growth Equity at Goldman Sachs Asset Management has invested more than $13 billion in companies led by visionary founders and CEOs. The team focuses on investing in growth-stage, technology-driven companies that span multiple sectors, including enterprise technology, financial technology, consumer and healthcare. Follow us on LinkedIn.