Halcyon Secures $100M Series C Funding to Combat Ransomware Threats

Technology

Halcyon Secures $100M Series C Funding to Combat Ransomware Threats

Cybersecurity Innovator Expands Middle East Presence with Groundbreaking Anti-Ransomware Platform

Halcyon, the world’s only company dedicated exclusively to defeating ransomware, has announced the successful closure of its $100 million Series C funding round. Led by Evolution Equity Partners, the funding propels Halcyon to a valuation of $1 billion, underscoring its position as the premier provider of a purpose-built Anti-Ransomware Platform. The platform leverages cutting-edge AI-driven technology to eliminate the business impact of ransomware attacks.

This milestone comes as Halcyon expands its footprint into the Middle East, introducing its proprietary Anti-Ransomware Platform to address the escalating ransomware threats in the region. The expansion aligns with the company’s mission to bolster global cybersecurity defenses.

Jon Miller, CEO and Co-Founder of Halcyon, emphasized the urgency of combating ransomware: “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.”

Key Highlights from the Announcement:

$100M Series C Funding: The round was led by Evolution Equity Partners with participation from Bain Capital Ventures, SYN Ventures, ServiceNow Ventures, and others.
Innovative Technology: Halcyon’s proprietary AI/ML solutions prevent ransomware attacks, enable system recovery within minutes, and stop data exfiltration threats.
Industry Impact: With over $1 billion paid in ransomware ransoms in 2023 and average recovery costs of $4.45 million, Halcyon’s solutions are uniquely positioned to protect businesses and individuals.
Unparalleled Success Rate: None of Halcyon’s customers have paid ransoms, lost data, or experienced significant downtime due to ransomware attacks.

The funding round highlights growing investor confidence in Halcyon’s mission to combat the ransomware epidemic. By providing organizations with advanced tools and data-driven insights, Halcyon is setting a new standard in cybersecurity resilience.