Halcyon, a leader in anti-ransomware technology, has raised $100 million in Series C funding, bringing the company's total funding to $190 million and increasing its valuation to $1 billion. Led by Evolution Equity Partners with additional investments from Bain Capital Ventures, Dropbox Ventures, and others, this new capital will help Halcyon expand its capabilities in defending against the rapidly growing ransomware threat. With ransomware costing organizations billions annually, Halcyon is positioning itself as a critical player in cybersecurity.

Ransomware attacks have become a significant global issue, with operators collecting over $1 billion in payments in 2023 alone. The average cost for companies to recover from an attack has risen to $4.45 million. These attacks not only disrupt business operations but also endanger individuals by exposing sensitive data and services, such as healthcare and energy, to extortion. Halcyon, with its proprietary anti-ransomware technology, is committed to protecting both businesses and individuals from this evolving threat.

Halcyon’s platform stands out in the cybersecurity space due to its unique combination of prevention and recovery. The company’s use of advanced AI/ML models, specifically trained on ransomware threats, enables unmatched protection against these types of cyberattacks. In addition, Halcyon’s Key Capture technology ensures that impacted devices remain operational, preventing costly downtime and operational disruptions that often accompany ransomware attacks. This feature gives companies the confidence to continue their operations without the threat of system shutdowns or data loss.

Halcyon’s DXP (Data Exfiltration Protection) further strengthens its defense by preventing the exfiltration of sensitive data, a key tactic used by ransomware operators to extort their victims. This feature allows organizations to detect and respond to ransomware attacks quickly, minimizing potential damage and providing early warnings that their networks are being infiltrated.

The impact of ransomware on organizations is staggering. With one in ten organizations worldwide affected by ransomware, the financial and operational consequences are severe. Enrique Salem, a partner at Bain Capital Ventures, highlighted that Halcyon’s technology has proven to stop ransom payments, protect against data loss, and prevent business disruptions, especially in critical sectors like healthcare and energy. Halcyon’s unique solution has earned the company a reputation for being undefeated by ransomware, with no Halcyon customers experiencing significant disruptions or having to pay ransom demands.

Jon Miller, Halcyon’s CEO and co-founder, emphasized the profound societal impact of ransomware, noting that it disrupts not only businesses but also essential services like healthcare, putting people’s lives at risk. He stressed that Halcyon is the only cybersecurity company equipped to handle the growing ransomware threat while also protecting individuals from data extortion.

This Series C funding round represents a significant milestone in Halcyon’s mission to lead the fight against ransomware. With the support of its investors and its groundbreaking technology, Halcyon is well-positioned to continue its growth and provide businesses and individuals with the security they need in the face of an ever-growing cyber threat.