The Toronto-based company, a virtual private network (VPN) service, said U.S.-based CRV and Insight Partners led the round that made it a unicorn. Existing investors Accel, Heavybit, Uncork Capital and others also participated. (TechCrunch, The Logic)

Talking point: Tailscale had previously raised US$17.26 million, according to PitchBook, including a US$12-million Series A in November 2020. The company said it plans to use the most recent funds to do “more of what we’ve been doing,” but “at a healthy pace.” Tailscale’s service makes an individual’s or corporation’s devices and applications accessible securely around the world. Unlike a traditional VPN that relies on a central gateway server, Tailscale uses a peer-to-peer mesh network. The pandemic shifted staff to home offices, and companies had to decide between enabling employee access and “trying to manage their stretched, insecure networks,” CRV general partner Reid Christian told TechCrunch. “Tailscale is razor-focused on user experience and security.”