- Cloud security company Menlo Security announced it has raised $100 million in Series E funding at a valuation of $800 million. These are the details.
Cloud security company Menlo Security announced it has raised $100 million in Series E funding at a valuation of $800 million. This round was led by Vista Equity Partners, a leading global investment firm focused on enterprise software, data, and technology-enabled businesses with additional participation from Neuberger Berman funds, General Catalyst, JP Morgan, and other existing investors. This new funding round will further fuel market expansion and empower the company to scale go-to-market capabilities as well as provide increased investment in engineering to accelerate product delivery and category expansion.
As businesses of all sizes embrace remote working and migrate to software as a service (SaaS), security is being completely re-architected to combat modern-day threats such as phishing and ransomware. And traditional “detect and respond” approaches fail to provide the safety that users and businesses need.
Menlo Security’s mission is to make Internet use safe, seamless, and effective. And the Menlo Security Cloud SWG is an extensible security platform – built on a unique isolation core – that delivers on the promise of cloud security by 1.) Providing the most effective zero-trust approach to preventing malicious attacks 2.) Offering a seamless experience for end-users that allows for safe and uninterrupted work while accessing the internet, SaaS, or private applications, and 3.) Removing the significant operational burden for security operations teams.
Despite market uncertainty caused by the COVID-19 pandemic, Menlo Security has been maintaining impressive momentum with 155% ARR growth and over 100% increase in average deal size year to date compared to the same period last year. And Menlo Security’s customers include seven of the ten largest banks, four of the five largest credit-card issuers and some of the largest energy and critical infrastructure companies in the world.
KEY QUOTES:
“The internet is where work happens – in browsers, email, shared files and SaaS applications – making these critical business workflows a massive target for malicious attacks. We are on a mission to empower organizations with the essential cloud security platform they need to outsmart and eliminate threats to protect productivity. This new round of financing and partnership with the Vista team provides us with the means to accelerate our execution capabilities across all dimensions of the business and meet the needs of our global customers as they transition to Zero trust and SASE based deployment models.”
— Amir Ben-Efraim, CEO of Menlo Security
“In today’s dynamic threat landscape with the rapid growth in connected devices, simultaneous de-centralized network structures, and the widespread embrace of SaaS and cloud-based applications, providing a safe internet experience is more important and challenging than ever before. Menlo Security has taken a unique approach with Isolation technology at its core that is able to completely neutralize all critical attack vectors of Web and email. We are thrilled to partner with Amir and the team to build on Menlo Security’s tremendous momentum and help catapult the company into their next phase of growth.”
— Ryan Atlas, Managing Director, Vista Equity Partners
“We are in an unprecedented period of uncertainty and risk. Protecting companies against the onslaught of ransomware, phishing and other cyber-threats has never been more important. Menlo Security’s Isolation-powered cloud security platform helps to solve this problem for the world’s top financial institutions, governments and leading enterprises, and provides a unique value proposition in combating top cyber threat vectors.”
— Rick Smith, Head of Private Investments at JPMorgan
