Cyber company Halcyon has successfully closed a $50 million Series A funding round. The funding was led by SYN Ventures, with additional investment from Dell Technologies Capital, Corner Ventures, and other strategic investors. The capital infusion will help Halcyon speed up the development and adoption of its cyber resilience platform, which is designed to defeat ransomware and extortion campaigns.
Jon Miller, CEO and Co-Founder of Halcyon, stated, “We engineered Halcyon to embrace failure as a core concept of protection. Stopping ransomware requires multiple prevention and detection techniques, all trained extensively on years of actual ransomware attacks.” He added, “This funding positions us to rapidly scale our mission of making ransomware unprofitable and enable resilient enterprises around the world.”
While ransomware is a significant threat facing businesses today, most endpoint tooling is built to address commodity malware. Halcyon is the first solution specifically designed to defeat ransomware, with tools for preventing initial intrusion, disrupting attacks in progress, and immediately reversing the effects of ransomware in the event of a successful attack. Halcyon's approach to cybersecurity and its specific strategy for defeating ransomware is revolutionary.
Jay Leek, Managing Partner and Co-Founder of SYN Ventures and Chairman of the Halcyon board, said, “Ransomware-as-a-Service operators have caused billions in damages over the last several years by skirting existing endpoint protections and causing headaches for IT and security departments worldwide. The world-class Halcyon team uniquely understands that building resilient endpoints and drastically lowering the risks posed by ransomware attacks requires a platform that bridges the gaps in each of these technologies.”
Halcyon's multi-tiered approach to defeating ransomware includes pre-execution ransomware prevention, exploitation of ransomware features, advanced ransomware behavior detections, and endpoint and network resiliency. The endpoint and network resiliency feature automates resiliency with automated host isolation capabilities that prevent ransomware from spreading to other endpoints and delivers automated encryption key capture and decryption of any impacted assets, eliminating the need to pay a ransom and reducing recovery time from days to minutes.
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