Cloudflare Revenue and Growth Statistics (2023)

Key Cloudflare user stats. Includes data on revenue, net income, investors, Cloudflare's number of employees, and more.
Cloudflare Revenue and Growth Statistics (2023)
Last updated on:
November 7, 2022

Cloudflare Key Stats

  • More than 7.59 million active websites use Cloudflare.
  • Cloudflare has a total of 4.1 million customers, including 119,206 paying customers.
  • The internet security company has 945 large customers. And an annualized revenue exceeding $100K.
  • Cloudflare generated $431.06 million in revenue in 2020.
  • Nearly half (49.38%) of Cloudflare’s revenue came from customers with a billing address outside of the United States.
  • Cloudflare currently has more than 1,931 full-time employees.
  • Cloudflare is used by 79.5% of all the websites whose reverse proxy service we know. This is 19.1% of all websites.
  • 49978+ companies reportedly use CloudFlare in their tech stacks, including Udemy, Lyft, and Hdbest.net.
  • A recent report suggests that Cloudflare Analytics is wildly inaccurate as all the bots and other spam is included in the stats.

Source: W3 Techs, Cloudflare

Cloudflare Overview (About the Company)

Cloudflare was launched in 2010, and as of 2021, there were 2,440 people working there, generating revenue of $656.4 million.

Let's check out some details about the company.

Key StatsKey Info
Launch DateSeptember 27, 2010
HeadquartersSan Francisco, California, U.S
FounderLee Holloway, Matthew Prince, Michelle Zatlyn
Key peopleMatthew Prince (CEO), Michelle Zatlyn (President and COO), John Graham-Cumming (CTO)
Number of employees2,440 (2021)
IndustryInformation and Communications Technology
SubsidiariesArea 1 Security Services, Reverse proxy, Edge computing, Streaming media, Identity management, virtual private network
Revenue$656.4 million (2021)
Operating income$127.7 million (2021)
Net incomeUS$260.3 million (2021)
Total assets$2.4 billion (2021)
Total equity$811.4 million (2021)
Websitewww.cloudflare.com

Cloudflare Valuation

Cloudflare was valued at 41.07 billion USD in 2021.

Graph about Cloudflare Valuation

We can observe how Cloudflare's value went the highest in 2021, at $41.07 billion.

YearValuation
2022USD 25.35 billion (as of Q3 of 2022)
2021USD 41.07 billion
2020USD 22.78 billion
2019USD 5.08 billion

Cloudflare began from nothing and it went high, though we can see a step down from 2021, as it was priced at $25.35 in the third quarter of 2022.

Source: Macro Trends

Cloudflare Revenue

Cloudflare's revenue in 2022 was of $894 million, being higher than ever before.

Graph about Cloudflare revenue

Let's look at this graph and check out the revenue that Cloudflare generated.

YearRevenue
2022USD 894 million
2021USD 656 million
2020USD 431 million
2019USD 287 million
2018USD 192.67 million
2017USD 134.91 million
2016USD 84.81 million

The graph from 2016 to 2022 is a stair step type, showing how the company evolved over time. Brilliant, isn't it?

Source: Macro Trends, Cloudflare

Cloudflare revenue breakdown by region

  • The billing address in the US contributed $218.19 million in income for Cloudflare in 2020. That is 50.62% of all revenue generated worldwide. Over the previous year, the company's revenue from the US market climbed by 50.92%.
  • In Q1 2021, Cloudflare's Europe, Middle East, and Africa (EMEA) revenue share increased from 20.86% in 2016 to 25.73% (25.35% in 2020).
  • The Asia Pacific area contributed $76.12 million to Cloudflare's revenue, an increase of 38.07%  year over year.
  • In 2020, "other markets" brought in $27.42 million for Cloudflare (outside of the United States, Europe, the Middle East, Africa, and Asia Pacific). This is an increase of 45.08% from the prior year.
Graph about Cloudflare revenue by region

Let's check out this table for a clearer view that has precise numbers for each year and region of Cloudflare's revenue.

YearU.S.A RevenueEMEA RevenueAsia Pacific RevenueOther Areas Revenue
2022 (August)USD490.92 millionUSD170.74 millionUSD100.67 millionUSD22.32 million
2021USD327.28 millionUSD136.59 millionUSD87.54 millionUSD13.53 million
2020USD218.19 millionUSD109.27 millionUSD76.12 millionUSD8.2 million
2019USD144.57 millionUSD68.42 millionUSD55.13 millionUSD12.73 million
2018USD92.65 millionUSD48.44 millionUSD38.85 millionUSD18.9 million
2017USD64.94 millionUSD31.88 millionUSD15.46 millionUSD27.42 million
2016USD43.18 millionUSD17.69 millionUSD8.5 millionUSD8.42 million

Source: Cloudflare

Cloudflare revenue breakdown by type of customers

Cloudflare has 64.35% direct customers, and 35.65% of the revenue coming from partnerships.

Graph about Cloudflare revenue breakdown by type of customers

Cloudflare's revenue is mainly coming from direct sources, with almost $100 million in August 2022.

YearRevenue from Direct CustomerRevenue from Channel Partner
2022 (August)USD99.87 millionUSD55.31 million
2021USD729.08 millionUSD49.83 million
2020USD385.76 millionUSD45.3 million
2019USD260.53 millionUSD26.5 million
2018USD179.44 millionUSD13.23 million
2017USD127.09millionUSD7.85 million
2016USD81.34 millionUSD3.45 million

Source: Cloudflare

Cloudflare Net Income

  • Cloudflare's net income for the twelve months ending September 30, 2022, was USD 225 million, a 3.75% increase YoY.
  • Cloudflare's annual net income for 2021 was USD 260 million, a 118.07% increase from 2020.
  • Cloudflare's annual net income for 2020 was USD 119 million, a 12.8% increase from 2019.
  • Cloudflare's annual net income for 2019 was USD 106 million, a 21.41% increase from 2018.
Graph about Cloudflare net income

Last year's net income was of $225 million, being just a bit under 2021's net income. Just like any other business, Cloudflare has seen both brighter and darker days.

YearNet Income
2022USD225 million
2021USD260 million
2020USD119 million
2019USD106 million
2018USD87 million
2017USD11 million
2016USD17 million

Source: Macro Trends

How much funding has Cloudflare raised? (Cloudflare Funding)

Cloudflare has raised $332.2 million in investment over eight rounds. Their most recent funding came from a Series E round on March 12, 2019.

Announced DateTransaction NameNumber of InvestorsMoney RaisedLead Investors
Mar 12, 2019Series E - Cloudflare1$150MFranklin Templeton Investments
Aug 21, 2017Secondary Market - Cloudflare1
Sep 22, 2015Series D - Cloudflare11$110MFidelity
Dec 17, 2013Series C - Cloudflare5$50MUnion Square Ventures
Jun 17, 2013Grant - Cloudflare1$150KNational Science Foundation
Jul 12, 2011Series B - Cloudflare3$20MNew Enterprise Associates
Nov 25, 2009Series A - Cloudflare2$2.1MPelion Venture Partners, Venrock
Jun 1, 2009Non-Equity Assistance - Cloudflare1Atlas Financial Group

There have been 8 previous fundings in Cloudflare. The first one was in 2009, and the most recent one being 10 years after their very first investing.

Source: Crunchbase

Cloudflare Investors

Cloudflare is funded by 15 investors. Franklin Templeton Investments and Employee Stock Option Fund are the most recent investors.

Investor NameLead InvestorFunding RoundPartners
Franklin Templeton InvestmentsYesSeries E - Cloudflare
Employee Stock Option FundSecondary Market - Cloudflare
New Enterprise AssociatesSeries D - CloudflareScott Sandell
Pelion Venture PartnersSeries D - Cloudflare
Union Square VenturesSeries D - Cloudflare
FidelityYesSeries D - Cloudflare
BaiduNoSeries D - Cloudflare
CapitalGNoSeries D - CloudflareLaela Sturdy
Greenspring AssociatesSeries D - Cloudflare
GoogleSeries D - Cloudflare

Source: Crunchbase

Cloudflare Acquisitions

Cloudflare has acquired 9 organizations. Their most recent acquisition was Area 1 Security on Feb 23, 2022. They acquired Area 1 Security for $162M.

Acquiree NameAnnounced DatePriceTransaction Name
Area 1 SecurityFeb 23, 2022$162MArea 1 Security acquired by Cloudflare
VectrixFeb 11, 2022Vectrix acquired by Cloudflare
ZarazDec 8, 2021Zaraz acquired by Cloudflare
LincDec 22, 2020Linc acquired by Cloudflare
S2 SystemsJan 7, 2020S2 Systems acquired by Cloudflare
NeumobNov 14, 2017Neumob acquired by Cloudflare
EagerDec 13, 2016Eager acquired by Cloudflare
CryptoSealJun 18, 2014CryptoSeal acquired by Cloudflare
StopTheHackerFeb 24, 2014StopTheHacker acquired by Cloudflare

Source: Crunchbase

How does Cloudflare make money?

Cloudflare makes money in three ways:

  • Subscriptions,
  • Pay-as-you-go services
  • Enterprise partnerships

Source: Tweaks

How much do Cloudflare service subscriptions cost? (Monthly, Yearly & Lifetime Billing)

ServiceType of Subscription
Application ServicesPro - $20/month, Business - $200/month, Enterprise - Custom billed annually
Zero Trust ServicesPay-as-you-go Plan - $7 per user, Contract Plan - Custom Billed annually
Network Services Magic Transit - Custom Pricing Billed annually, Magic WAN - Custom Pricing Billed annually, Magic Firewall - Custom Pricing Billed annually
Developer PlatformWorkers Paid - Starting at $5/month

Source: Cloudflare

How many Cloudflare customers renew subscriptions automatically? (Active Users Billing)

The latest information is from August 2022, when there have been over 340,000 automatic renewals for Cloudflare subscriptions.

Graph about Cloudflare active users billing
YearNumber of Automatic Renewal
2022 (August)340,497 Auto-Renewal
2021194,570 Auto-Renewal
2020111,183 Auto-Renewal
201984,154 Auto-Renewal
201872,823 Auto-Renewal
201749,309 Auto-Renewal
201635,002 Auto-Renewal

Source: Cloudflare

Cloudflare's total operating expenses

Cloudflare’s operating expenses totaled $436.77 million in 2020. That’s an increase of 31.74% over the previous year.

Graph about Cloudflare's total operating expenses
YearOperating Expenses
2016$77.86 million
2017$115.86 million
2018$234.04 million
2019$331.54 million
2020$436.77 million

Source: Cloudflare

Cloudflare sales and marketing expenses

Cloudflare’s sales and marketing expenses amounted to $217.87 million in 2020, making up 49.88% of total operating expenses.

YearSales and Marketing ExpensesComparison
2016$23.66 million30.39%
2017$33.65 million29.04%
2018$54.46 million23.27%
2019$90.7 million27.36%
2020$127.14 million29.11%

Source: Cloudflare

Cloudflare research and development expenses

With the expansion of Cloudflare as a business, more expense has to go into research and development. We can see this contrast in each year since 2016:

YearResearch and Development ExpensesComparison
2016$23.66 million30.39%
2017$33.65 million29.04%
2018$54.46 million23.27%
2019$90.7 million27.36%
2020$127.14 million29.11%
Q1 2021$28.47 million24.83%

In 2016, Cloudflare began with $23.66 million in research and development expenses, and in the first quarter of 2021, they've invested $28.47 million.

The highest expenses in this domain were recorded in 2020, with $127.14 million dedicated to research purposes.

Source: Cloudflare

Cloudflare general and administrative expenses

Regarding administrative expenses, these also go higher as the business grew larger. Let's check the data for this.

YearExpensesComparison
2016$14.07 million18.07%
2017$20.3 million17.52%
2018$85.18 million36.40%
2019$81.58 million24.61%
2020$91.75 million21.01%

In 2016, there have been $14.07 million expenses in the administrative side, jumping all the way to $91.75 million in 2020.

It's most likely that these numbers went higher in 2020 due to the COVID-19 lockdown, when there was an explosion in almost every online service.

Source: Cloudflare

How many people work at Cloudflare?

In 2022, there were recorded over 3000 employees at Cloudflare. In contrast, there were just 865 people working for the company in 2018.

Graph about Cloudflare number of employees

Yet again, we see a larger expansion from 2019 to 2020, with 518 new people joining the company.

This probably was also influenced by the 2020 lockdown, when the company might've needed more people working for them.

YearEmployees Headcount
20223000+ employees
20212440 employees
20201788 employees
20191270 employees
2018865 employees

Source: H1B Data, Comparably, Cloudflare

How many websites use Cloudflare?

Cloudflare is used by 7.59 million websites worldwide.

Source: Earth Web

Where is Cloudflare available?

Cloudflare is a global network. It is available in more than 100 countries.

Source: Cloudflare

Cloudflare customers by country

The United States accounts for 1,570,814 (19.28%) of all live Cloudflare websites.

Infographic about Cloudflare customers by country

Followed by the United States is the United Kingdom and Brazil. Below you can see the list of most countries' consumers at Cloudflare:

CountryNumber of Customers
United States1,570,814
United Kingdom471,366
Brazil275,897
Mali271,251
Russia247,994
Australia231,692
Canada189,861
Germany187,527
India171,156
France132,043
Netherlands125,034
Italy101,258
Poland99,284
China95,579
Spain70,557
Indonesia69,840
Turkey64,760
Mexico49,512
Sweden46,617
New Zealand43,262
Cocos Islands42,230
Denmark40,455
Japan39,930

Fun fact: Cloudflare has more way consumers in the United States has than the United Kingdom and Brazil altogether.

Source: Builtwith

Top companies using Cloudflare

Here are a few examples of companies you might’ve heard about that is using Cloudflare:

  • Udemy
  • Lyft
  • Hdbest.net
  • Bitpanda
  • Tinder
  • Medium
  • Somfilms.net
  • Z-shadow.info
  • DoorDash
  • Canva
  • Etsy
  • BBC Shop
  • Walmart
  • Best Buy
  • Trendyol
  • Dell
  • Nike
  • H&M
  • Lenovo

Source: Stack Share, Influencer Marketing Hub

How many people use Cloudflare DNS?

Cloudflare is used by 80.5% of all the websites whose reverse proxy service. This is 19.4% of all websites.

Graph about how many people use Cloudflare DNS

For reference, there are currently over 1.13 billion websites in the World (January 2023). This counts the active and the unactive websites altogether.

Source: Cloudflare

Does Cloudflare limit traffic?

Cloudflare does not enforce response limits, but cache limits for Cloudflare's CDN are observed Open the external link. The maximum file size is 512 MB for Free, Pro, and Business customers and 5GB for Enterprise customers.

Source: Cloudflare

What is Cloudflare’s CDN market share?

Currently, Cloudflare Is used by 79.9% of all websites that rely on Content Delivery Networks (CDN).

Source: W3 Techs

Who are Cloudflare users? (Cloudflare users’ demography )

Cloudflare users’ distribution by gender

There are 22.31% women and 76.69% men among cloudflare.com's users.

GenderPercentage
Female22.31%
Male76.69%

Source: Similar Web

Cloudflare users’ distribution by age

The most common age group of cloudflare.com visitors is 25 to 34 years old.

Age GroupPercentage
18 - 2423.50%
25 - 3437.75%
35 - 4420.33%
45 - 549.97%
55 - 645.32%
65+3.13%

Source: Similar Web

How many app downloads did Cloudflare get in 2022?

  • Cloudflare have more than 100 million android app downloads
  • Cloudflare have more than  226,400 iOS app downloads

Source: Play Google, Apps Apple

Cloudflare Web Traffic Analysis

Cloudflare top marketing channels

The top traffic source to Cloudflare.com is direct traffic, driving 67.58% of desktop visits last month, and search is the 2nd with 23.94% of traffic

Marketing ChannelsShare of Traffic
Direct67.58%
Referrals3.58%
Search23.94%
Social1.99%
Mail2.39%
Display0.52%

Source: Similar Web

Social media traffic to Cloudflare

Cloudflare.com gets most of its social media traffic from YouTube, followed by Facebook and Reddit.

Social MediaShare of Traffic
YouTube42.51%
Facebook13.92%
Reddit9.51%
twitter9.41%
Whatsapp9.34%
Others15.32%

Source: Similar Web

What is Cloudflare traffic and engagement analysis by country?

Cloudflare.com's core audience is located in the United States followed by India, and Brazil in the last three months.

Country All devicesDesktopMobile
United States27.17%9M87%13%
India8.50%2.8M30.43%69.57%
Brazil6.05%2M11.10%88.90%
United Kingdom5.74%1.9M74.92%25.08%
Indonesia4.42%1.5M11.03%88.97%

Source: Semrush

What is the average time spent by users on cloudflare.com?

The average time spent by Cloudflare website visitors is 5 minutes and 7 seconds.

Graph about Cloudflare user average time spent

Source: Similar Web

Who founded Cloudflare?

Matthew Prince, Lee Holloway and Michelle Zatlyn co-founded Cloudflare on September 27, 2010.

Cloudflare founder's net worth

Matthew Prince is currently worth more than USD 3.2 billion.

  • Matthew Prince co-founded the web infrastructure and security company Cloudflare in 2009. It went public in September 2019.
  • Prince owns about 10% of the company and serves as CEO.
  • Pre-IPO, its investors included Google's venture firm CapitalG, Microsoft, Baidu and Qualcomm Ventures.
  • Before Cloudflare, Prince was a law professor and cofounded Unspam Technologies, which helped block spam content for clients.
  • He is age 47 years old as of November 2022
  • His Source of Wealth is through cybersecurity service
  • Lives in Park City, Utah, and is a United States Citizen.
  • He is Married
  • He has a Master of Business Administration, from Harvard Business School; a Bachelor of Arts/Science, from Trinity College Connecticut; Doctor of Jurisprudence, from the University of Chicago
Graph about Cloudflare founder's net worth
YearNet worth
2021USD 2.5 billion
2022USD 3.2 billion

Source: Forbes

FAQs

No items found.

About the author

Ch David is the co-founder of SignHouse. David is here to help the product development team expand the capabilities of ultimate eSignature maker for all your needs. Join David and the SignHouse team in stepping up electronic signatures!

Back to all the blog posts