Toronto’s Tailscale Hits $1.5 Billion Valuation With New Funding (Correct)

Tailscale Inc., a security startup based in Toronto, has raised $160 million from investors — a significant haul for the Canadian company. The deal values the startup at about $1.5 billion.

The funding round was led by Accel, Tailscale plans to announce on Tuesday, with participation from CRV, Insight Partners, Heavybit and Uncork Capital. The chief executive officer of CrowdStrike Holdings Inc., George Kurtz, also invested.

Tailscale hit a valuation of 1 billion in Canadian dollars three years ago (about $780 million) during happier times for the venture capital and startup industry. But the company has said that its annual recurring revenue has ...