Total amount raised
$190 Millions
Latest funding date
11/1/2024
Location
Halcyon has successfully raised funds through a Series C round, with backing from 12 investors, including ServiceNow Ventures and Harmony Group. The company specializes in anti-ransomware and cyber resilience solutions, aiming to eliminate the business impact of ransomware.
Keep reading to explore the intricacies of Halcyon's fundraising journey and the investors backing this innovative platform.
What Is Halcyon?
Founded in September 2021, Halcyon is a cybersecurity company based in Austin, Texas. The company was established by Jon Miller and Ryan Smith.
Halcyon specializes in anti-ransomware and cyber resilience solutions, aiming to protect enterprise clients from ransomware attacks. Their platform combines pre-execution detection, behavioral modeling, and deception techniques to mitigate the impact of ransomware.
With a team of 101-250 employees, Halcyon continues to innovate in the field of cybersecurity, providing robust solutions to safeguard businesses against evolving cyber threats.
How Much Funding Has Halcyon Raised?
- Series A
- Amount Raised: $44M
- Date: April 2023
- Lead Investors: Corner Ventures, SYN Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and marketing of Halcyon's anti-ransomware protection platform.
- Debt Financing
- Amount Raised: $6M
- Date: April 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional capital for operational expenses and growth initiatives.
- Series B
- Amount Raised: $40M
- Date: December 2023
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform and expand its market reach.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: July 2024
- Lead Investors: Cisco Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage strategic partnerships and enhance technological capabilities.
- Series C
- Amount Raised: $100M
- Date: November 2024
- Lead Investors: Evolution Equity Partners
- Valuation at Round: $1 billion
- Motivation Behind the Round: To accelerate growth and strengthen Halcyon's position as a leading anti-ransomware platform provider.
Total Amount Raised: $190M. Current Valuation: $1 billion.
Key Investors
- Evolution Equity Partners
- Details: Evolution Equity Partners is a venture capital firm headquartered in New York City, specializing in cybersecurity and enterprise software investments. Richard Seewald, Managing Partner, is joining Halcyon's Board of Directors.
- Investment Focus Areas: Cybersecurity, enterprise software.
- Notable Investments: Onapsis, Quantexa.
- Cisco Investments
- Details: Cisco Investments is the venture capital arm of Cisco Systems, focusing on strategic investments that align with Cisco's business interests. They have a broad portfolio of technology investments.
- Investment Focus Areas: Networking, cybersecurity, enterprise software.
- Notable Investments: Arista Networks, Cohesity, ThousandEyes.
- Bain Capital Ventures
- Details: Bain Capital Ventures is a leading venture capital firm that invests in early to growth-stage companies across various sectors. They have a strong focus on technology and innovation.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, DocuSign, Jet.com.
- Corner Ventures
- Details: Corner Ventures is a venture capital firm that invests in technology and growth-stage companies. They focus on providing strategic support to their portfolio companies.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: Not publicly disclosed.
- SYN Ventures
- Details: SYN Ventures is a venture capital firm specializing in cybersecurity investments. They aim to support companies that address critical security challenges.
- Investment Focus Areas: Cybersecurity, related technologies.
- Notable Investments: Armis, Axonius.
What's Next for Halcyon?
Halcyon stands at the cusp of significant growth opportunities, driven by the escalating threat of ransomware. With a $1 billion valuation and $100 million in Series C funding, the company is well-positioned to expand its market presence and enhance its AI-driven anti-ransomware platform. The increasing reliance on cybersecurity solutions across various industries, from healthcare to finance, underscores the vast potential for Halcyon's innovative technology.
Future fundraising opportunities appear promising, given the strong investor confidence demonstrated in the recent funding round. As Halcyon continues to scale, additional capital could be sought to further develop their technology and explore new markets. However, the company must navigate challenges such as staying ahead of evolving ransomware tactics and competing with other cybersecurity firms. Maintaining technological innovation and customer trust will be crucial as Halcyon aims to solidify its position as a leader in ransomware protection.
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