Halcyon, a leading platform focused on defeating ransomware, has successfully closed a $40 million Series B funding round led by Bain Capital Ventures (BCV). Enrique Salem, BCV Partner and former Symantec CEO, will join the Board of Directors, and BCV Partner Jeff Williams will take on the role of Chief Revenue Officer.
This funding round, which follows an oversubscribed $50 million Series A announced in April 2023, brings the total funding raised in 2023 to $90 million. The new capital will be utilized to expand the company’s engineering, research and development (R&D), and sales functions.
Halcyon, designed from its inception to combat ransomware, is aggressively targeting enterprise clients across various sectors, with a specific focus on education, financial services, and healthcare. The platform takes a revolutionary approach by delivering not only a robust prevention layer but also emphasizing cyber resilience. Ransomware operators are projected to have the second most profitable year ever in 2023, according to the Department of Homeland Security’s 2024 Homeland Threat Assessment report.
Halcyon stands out as the only anti-ransomware platform on the market built to prevent incoming attacks and mitigate their impact on businesses. It offers multi-layered prevention and endpoint resilience, incorporating automated encryption key material capture and autonomous decryption capabilities. This comprehensive approach provides organizations with confidence in the safeguarding of their valuable data and systems. Global 2000 companies rely on Halcyon to address gaps in existing endpoint platforms and reverse attacks to maintain business continuity.
Jon Miller, CEO and Co-Founder of Halcyon, highlighted the significance of purpose-built tooling in combating ransomware, emphasizing that many organizations adapt existing endpoint products, enabling the unimpeded growth of ransomware. The investment validates Halcyon’s impact in the fight against ransomware and underscores the urgency of addressing this cybersecurity threat.
Jeff Williams, with over 25 years of operating experience in infrastructure software and security, joins Halcyon as Chief Revenue Officer. He brings a strong track record of enabling early-stage enterprise technology companies to scale and grow into market leaders. Williams expressed his honor in working alongside a seasoned cybersecurity leadership team at a pivotal moment in the fight against ransomware.