Halcyon, an anti-ransomware startup based in Austin, Texas, has announced that it had raised $40 million in a Series B fundraising round that was oversubscribed and led by Bain Capital Ventures.
With this latest investment, Halcyon’s company has raised a total of $90 million this year. The company plans to use the funds to grow its engineering, research and development, and sales departments.
The startup claims that it is actively pitching to businesses in all verticals about its anti-ransomware and cyber resilience platform, with a particular emphasis on the financial services, healthcare, and education sectors. A technology developed by Halcyon offers several levels of defence against ransomware assaults.
It makes use of a lightweight agent that combines AI models specifically trained on ransomware assaults with numerous patented prevention engines.
Read More: Halcyon Raises $40 Million for Anti-Ransomware Platform
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