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Greenspring Associates, NEA Take Part in $50M Round for CloudFlare

12/18/2013
A pair of local venture capital firms, Owings Mills-based Greenspring Associates and Chevy Chase-based New Enterprise Associates (NEA), have taken part in a $50 million round of funding for San Francisco-based CloudFlare, developer of a network designed to speed the delivery of web pages while protecting users from attacks. Union Square Ventures, Pelion Venture Partners and Venrock also participated in the round, which was officially closed several months ago but only now is being revealed. Over the past year, CloudFlare said it has doubled its customer count to more than 1.5 million and increased its year-over-year revenue by 450%. The company said it plans to continue that expansion in 2014 with new data center locations in Latin America, the Middle East, Africa and China.

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