Halcyon, a leading platform designed from day one to defeat ransomware, announced today that it had closed $100 million in Series C funding, led by Evolution Equity Partners and with participation from Bain Capital Ventures (BCV), SYN Ventures, Harmony Group, Corner Capital Management, Dropbox Ventures, ServiceNow Ventures, and existing investors.
The funding round raises $190 million and values the company at $1 billion. Evolution Managing Partner Richard Seewald is joining the Halcyon Board of Directors in connection with the funding round. The funding will accelerate the company’s growth and strengthen its position as the leading anti-ransomware platform provider.
The rapid growth of the ransomware economy represents a breakthrough phenomenon that impacts companies and people as they go about their daily lives. And businesses risk having systems taken down and services disrupted, impacting revenue forecasts, and having their data stolen leading to extortion and damage to brand reputation. Customers lose sensitive data in the process and cannot access critical services, often putting lives at risk. Halcyon is devoted specifically to defeating ransomware through a unique combination of prevention and resilience by way of a proprietary technology that captures encryption keys and enables organizations to recover from attacks in minutes without ever paying ransoms.
Utilizing AI/ML Models specifically trained on ransomware samples provides Halcyon’s customers with unmatched protection efficacy. And complementing that efficacy, Halcyon’s unique Key Capture feature gives organizations peace of mind that impacted devices will not be taken offline, disrupting their business operations and costing them revenue. And Halcyon’s DXP stops ransomware data exfiltration giving organizations better control over their data and providing an early warning that their network has been infiltrated or whether an attack is in progress.
So far, zero Halcyon customers have experienced significant disruptions to their operations, zero have had sensitive data exfiltrated, zero have had to restore systems from backups, zero have paid ransom demands, and zero have had to claim the Halcyon Ransomware Warranty.
KEY QUOTES:
“Halcyon is a consequential cybersecurity company and a market leader in its space. Ransomware has a devastating impact on individuals and organizations, causing financial losses, reputational damage, and loss of critical data. Halcyon stands alone in both its focus on and its approach to defeating ransomware. We are proud to be backing a tremendous team with a differentiated platform in one of the largest spend categories in cybersecurity today.”
- Richard Seewald
“Ransomware is unique in cybercrime because of its tangible impact on everyday people. When patients can’t get healthcare, workers can’t do their jobs, and the most vulnerable among us are directly extorted because their most personal information was exfiltrated in a ransomware attack, we are talking about attacks that are unlike any we have seen before. Ransomware represents the most prescient cybersecurity threat to organizations large and small, and now the threat has expanded to include the extortion of individuals whose sensitive data has been compromised. Halcyon is the only security provider that can effectively prevent and recover from ransomware attacks as well as protect companies and individuals from data extortion schemes.”
- Jon Miller, CEO and Co-Founder, Halcyon
“Ransomware victims paid over $1 billion in 2023 just to regain access to their own data and assets. One in every ten organizations worldwide have been affected by ransomware and Halcyon’s unique technology is proven to prevent ransom payments and data loss to criminals, small business closures, and downtime in our most important industries like healthcare and energy.”
- Enrique Salem, partner at Bain Capital Ventures (BCV)
