Anti-Ransomware Startup Halcyon Reaches Unicorn Status After $100M Series C

Not even the vacation season can cease cyber fundraising it appears.

Anti-ransomware agency Halcyon grew to become the most recent cyber startup to lift large, locking up a $100 million Collection C led by Evolution Equity Partners that values the corporate at $1 billion.

The spherical additionally noticed participation from Bain Capital, SYN Ventures, Harmony Group, ServiceNow Ventures and others.

The Austin, Texas-based startup has developed a platform that makes use of synthetic intelligence and machine studying educated on ransomware to reverse the consequences of a ransomware assault — ensuring companies’ operations are by no means truly impacted by an assault.

Whereas it’s estimated corporations have been extorted for greater than $1 billion in 2023 via ransomware, no Halcyon clients have paid a ransom demand, the corporate mentioned.

“Ransomware is exclusive in cybercrime due to its tangible influence on on a regular basis folks,” mentioned co-founder and CEO Jon Miller in a release. “Ransomware represents probably the most prescient cybersecurity menace to organizations giant and small, and now the menace has expanded to incorporate the extortion of people whose delicate knowledge has been compromised.”

Huge rounds pour in

Halcyon’s large spherical is simply the most recent amongst cyber startups.

Simply final week, knowledge safety startup Cyera closed a $300 million Series D led by Accel and Sapphire Ventures at a $3 billion valuation.

Late final month, Armis Security closed a $200 million Series D led by Alkeon Capital and General Catalyst that valued the corporate at $4.2 billion.

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Illustration: Dom Guzman