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Halcyon Raises $40M in Series B Funding to Combat Ransomware, Welcomes New Executives

Halcyon, a trailblazer in ransomware defense, has announced the closure of a $40 million Series B funding round, led by Bain Capital Ventures (BCV). This investment, following a $50 million Series A in April 2023, brings Halcyon's total funding for the year to an impressive $90 million. The funding will primarily enhance the company's engineering, R&D, and sales divisions, as it aims to expand its reach across various sectors including education, financial services, and healthcare.

Strategic Leadership Additions

In a strategic move to bolster its leadership, Halcyon has welcomed Enrique Salem, BCV Partner and former Symantec CEO, to its Board of Directors. Jeff Williams, another BCV Partner, will be joining as Chief Revenue Officer, bringing over 25 years of experience in infrastructure software and security.

Executive Insights

Enrique Salem expressed his enthusiasm about Halcyon's direction, stating, "Halcyon is taking a revolutionary approach to stopping ransomware, not only delivering a robust prevention layer but giving organizations what they truly need - cyber resilience.” He emphasized his commitment to the company, highlighting its potential to transform the impact of ransomware.

Halcyon's CEO and Co-Founder, Jon Miller, reflected on the significance of the investment, noting, “This investment validates the impact Halcyon has had in combating ransomware and is proof-positive that ransomware is top-of-mind to leadership across industries today.” He stressed the need for purpose-built tools to effectively counter the growing ransomware threat.

Halcyon's Unique Approach to Ransomware Defense

Halcyon offers multi-layered prevention and endpoint resilience, featuring automated encryption key material capture and autonomous decryption capabilities. This unique approach ensures that organizations can safeguard their valuable data and systems, maintaining business continuity even in the face of ransomware attacks.

Ransomware: A Growing Threat

The Department of Homeland Security’s 2024 Homeland Threat Assessment report indicates that 2023 could be the second most profitable year for ransomware operators. In this context, Halcyon’s efforts are more crucial than ever, as it provides a solution to the vulnerabilities in existing endpoint platforms and reverses attacks to ensure continued business operations.

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