Austin-based cybersecurity company Halcyon, known for its advanced ransomware prevention platform, raised $100 million in Series C funding, bringing its valuation to $1 billion.
The funding round was led by Evolution Equity Partners, with participation from Bain Capital Ventures, SYN Ventures, Harmony Group, Corner Capital Management, Dropbox Ventures, ServiceNow Ventures, and existing investors. As part of the investment, Richard Seewald, Managing Partner at Evolution Equity Partners, will join Halcyon’s Board of Directors.
According to the official press statement, the funding will be used to support Halcyon’s continued growth and enhance its position as a leading provider of anti-ransomware solutions.
Led by CEO Jon Miller, Halcyon develops technology aimed at minimizing the impact of ransomware attacks on organizations. The platform employs AI and machine learning models trained specifically on ransomware threats to help businesses recover quickly without paying ransoms or relying on backups. Key features include:
- Key Capture: Ensures infected devices remain operational, minimizing business disruption.
- DXP (Data Exfiltration Protection): Stops ransomware from stealing data and provides early warnings of potential breaches or active attacks.
The latest funds will also enable Halcyon to scale its operations and further innovate in the fight against ransomware, providing organizations with stronger tools to mitigate risks and maintain business continuity.