The cybersecurity company Tanium will be worth more than $5 billion now that its shareholders have accepted a large round of cash from the investing giant TPG.
TPG Growth is committing $175 million to the company, in which it is an existing investor, according to a person with knowledge of the deal. None of the cash will go to the company directly, though, but rather to early investors and employees as part of what is known as a secondary round of financing.
The company was last valued at about $3.8 billion in its prior round of secondary financing last year, according to PitchBook.
TPG and Tanium declined to comment. The new investment was first reported by Reuters.
The deal makes Tanium one of the most highly valued startups in the U.S., and especially so in the enterprise space, where valuations overall tend to be lower.
This article originally appeared on Recode.net.