Halcyon raises $40 million to combat ransomware attacks

Halcyon announced it has closed a $40 million Series B funding round led by Bain Capital Ventures (BCV).

The company also announced that BCV Partner and former Symantec CEO, Enrique Salem, will join the Board of Directors, and BCV Partner Jeff Williams will join as Chief Revenue Officer.

The oversubscribed funding round follows a $50M Series A announced in April 2023, bringing total funding raised in 2023 to $90M. The new capital will be used to expand the company’s engineering, R&D, and sales functions. Halcyon is aggressively targeting enterprise clients across all verticals with a specific focus in education, financial services and healthcare.

“Halcyon is taking a revolutionary approach to stopping ransomware, not only delivering a robust prevention layer but giving organizations what they truly need – cyber resilience,” said Salem. “The team has deep expertise and experience, and I look forward to joining them as they work to change the impact of ransomware, and ultimately, defeat it.”

Ransomware operators are set to have the second most profitable year ever in 2023 according to the Department of Homeland Security’s 2024 Homeland Threat Assessment report. Halcyon is the only anti-ransomware platform on the market built to prevent incoming attacks and mitigate the impact to the business.

Halcyon delivers multi-layered prevention and endpoint resilience with automated encryption key material capture and autonomous decryption capabilities that provides organizations with peace of mind knowing that their valuable data and systems are safeguarded. Global 2000 companies rely on Halcyon to address gaps in existing endpoint platforms and reverse attacks to maintain business continuity.

“Too many organizations are simply adapting their endpoint products and applying them to the ransomware fight. This lack of purpose-built tooling is enabling ransomware’s unimpeded growth,” said Jon Miller, CEO of Halcyon. “This investment validates the impact Halcyon has had in combating ransomware and is proof-positive that ransomware is top-of-mind to leadership across industries today.”

Jeff Williams brings over 25 years of operating experience and extensive expertise in infrastructure software and security, with a strong track record of enabling early-stage enterprise technology companies to scale and grow into market leaders. He joins from an Operating Partner role at BCV and successful tenures with most recently Armis acquired by Insight Partners, FireEye an IPO company, IronPort Systems acquired by Cisco, and IrtruVert Networks acquired by Intel.

“Halcyon is a pioneer in the cybersecurity industry and the company has an extraordinary opportunity in front of it,” said Williams. “I’m honored to be working alongside a leadership team of seasoned cybersecurity professionals at a pivotal moment in the fight against ransomware.”

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