Halcyon Raises $100M in Series C Funding, Reaches $1B Valuation

Halcyon has announced the successful closure of a $100 million Series C funding round. The round was led by Evolution Equity Partners with participation from Bain Capital Ventures (BCV), SYN Ventures, Harmony Group, Corner Capital Management, Dropbox Ventures, ServiceNow Ventures, and existing investors.

This funding brings Halcyon’s total capital raised to $190 million, valuing the company at $1 billion. The investment will be used to accelerate Halcyon’s growth and solidify its leadership in the anti-ransomware market. Richard Seewald, Managing Partner at Evolution Equity Partners, has joined the company’s Board of Directors.

Halcyon is the only cybersecurity provider focused exclusively on combating ransomware. Its proprietary technology prevents attacks and enables rapid recovery by capturing encryption keys, ensuring businesses never need to pay ransoms. With ransomware payouts exceeding $1 billion in 2023 and recovery costs averaging $4.45 million per incident, Halcyon’s solutions are more critical than ever.

“Ransomware is a devastating threat, causing financial losses, reputational damage, and stolen data,” said Richard Seewald. “Halcyon’s unique platform and outstanding team are redefining ransomware defense in one of the fastest-growing areas of cybersecurity.”

Halcyon’s AI-driven Anti-Ransomware Platform delivers unparalleled protection by using machine learning models trained specifically on ransomware. The platform includes advanced features like Key Capture Technology, which ensures devices remain operational during attacks, and Data Exfiltration Protection (DXP) to prevent data theft and provide early warnings of network breaches.

“Ransomware attacks disrupt businesses, steal sensitive data, and impact everyday people,” said Jon Miller, CEO and Co-Founder of Halcyon. “Halcyon is the only security provider capable of preventing and recovering from ransomware while protecting against data extortion schemes.”

The company’s technology has proven effective, with zero customers experiencing significant disruptions, data breaches, or ransom payments. Halcyon remains undefeated by ransomware, offering organizations unmatched confidence in their cybersecurity defenses.