Halcyon, a cybersecurity platform that leverages AI/ML technology’s unique Key Capture features, has raised $100 million in Series C funding, cementing its position as the leading anti-ransomware solution. Led by Evolution Equity Partners and supported by Bain Capital Ventures (BCV), SYN Ventures, Harmony Group, and others, this latest funding round brings Halcyon’s valuation to an impressive $1 billion.
With this Series C funding, Halcyon plans to accelerate its growth and solidify its role as a ransomware prevention and resilience pioneer. Richard Seewald, Managing Partner of Evolution Equity Partners, will join Halcyon’s Board of Directors to further guide the company’s mission.
Halcyon’s innovative platform leverages artificial intelligence and machine learning (AI/ML), which is trained explicitly on ransomware samples. These tools deliver unmatched protection, empowering enterprises to recover quickly from attacks without succumbing to ransom payments or data loss.
“Ransomware devastates individuals and organizations, causing financial losses, reputational damage, and critical data loss. Halcyon stands alone in 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,” said Evolution Managing Partner Richard Seewald.
How Halcyon Defeats Ransomware?
Halcyon offers unique features that set it apart from other cybersecurity solutions:
- Key Capture Technology: This proprietary feature prevents devices from being taken offline, ensuring uninterrupted business operations.
- DXP (Data Exfiltration Prevention): Halcyon’s DXP stops hackers from stealing data, providing organizations with early warnings about potential breaches.
- These tools have made Halcyon an undefeated leader in ransomware defense, boasting zero significant disruptions, zero ransom payouts, and zero claims against its industry-leading ransomware warranty.
Ransomware: A Growing Global Threat
In 2023, ransomware attacks generated over $1 billion in payments, with the average recovery cost soaring to $4.45 million per event. Beyond financial losses, these attacks disrupt services, damage reputations, and compromise sensitive data. Halcyon addresses these issues by providing a resilient, reliable platform that eliminates the impact of ransomware on businesses and their customers.
“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. The most vulnerable among us are directly extorted because their personal information was exfiltrated in a ransomware attack. We are talking about attacks unlike any we have seen before,” said Jon Miller, CEO and Co-Founder of Halcyon.
“Ransomware represents the most prescient cybersecurity threat to organizations, large and small. The threat has expanded to include the extortion of individuals whose sensitive data has been compromised. Halcyon is the only security provider to prevent and recover from ransomware attacks and protect companies and individuals from data extortion schemes,” added Jon.
Commitment to Cybersecurity Excellence
Halcyon is dedicated to eradicating the economic and operational fallout of ransomware. Its AI-driven tools enable modern enterprises to secure their systems while drastically reducing downtime, ensuring seamless recovery without needing backups or ransom payments.
Halcyon remains steadfast in its mission to protect businesses and individuals as ransomware evolves. With its cutting-edge platform, the company is transforming the cybersecurity landscape and redefining how organizations fight ransomware.
“Ransomware victims paid over $1 billion in 2023 to regain access to their data and assets. One in every ten organizations worldwide has been affected by ransomware. Halcyon’s unique technology has been proven to prevent ransom payments and data loss to criminals, small business closures, and downtime in our most important industries like healthcare and energy,” said Enrique Salem, partner at Bain Capital Ventures (BCV).
Follow USTechTimes on Facebook, Twitter and Linkedin for in-depth news of market trends, funding updates, and regulatory changes affecting startups in USA.
We Recommend:
- Cranium.ai Secures $25 Million in Series A Funding for Transforming AI Security
- Partnership intelligence startup SponsorUnited bags $35 million in Series A round led by Spectrum Equity
- Varda Space selects SpaceX Falcon 9 Rocket to carry its First Space Factory to Orbit
- Phantom Space Corp. acquires StratSpace consultancy for growth and supply chain utilization
- Gradiant raises $225 million in Series D, enters the unicorn club
