Cylance Adds Strategic Investor Citi Ventures to Series D Funding Round
Bolsters Strength in Financial Services Sector and Positions Company for Continued Global Expansion
IRVINE, Calif., June 30, 2016 /PRNewswire/ -- Cylance® Inc., the first cybersecurity company to successfully apply artificial intelligence algorithms to predictively identify and stop malware and advanced threats, today announced the final close of its $100 million Series D funding round with strategic partner Citi Ventures. Insight Venture Partners and funds managed by Blackstone Tactical Opportunities led the round.
"Cylance is building a better future where our personal and organizational data and devices are safe from cybercrime, and we're doing it by collaborating with forward-thinking customers, colleagues and investment partners," said Cylance president and CEO Stuart McClure. "By partnering with one of the biggest and most innovative financial institutions in the world, we're positioned to continue our rapid progress in the mission of protecting every computer under the sun."
"Rapid evolution in technology and the cyber-threat landscape means enterprise and personal systems alike constantly face new challenges that require top-notch security to keep systems safe," said Arvind Purushotham, Managing Director and Co-head of Venture Capital at Citi Ventures. "Cylance's predictive AI technology offers a unique, highly scalable, proven antivirus solution that represents the next generation of cybersecurity."
Called by Gartner "the fastest growing EPP startup in the past ten years" in its 2016 Magic Quadrant for Endpoint Protection Platforms (EPP), the company has achieved a number of significant milestones, including:
- Three patents, with five patents pending
- 1000+ customers, including 50 of the Fortune 500
- Launch into UK, Nordic, Australia/New Zealand, Latin American and Japanese markets
- 1089 percent growth in billing year over year
- 425 employees
- Market penetration in 20 vertical industries
Through the application of algorithmic science and machine learning, the company's flagship product, CylancePROTECT® is uniquely able to identify and prevent zero-days and other forms of advanced and targeted attacks currently impacting businesses and government agencies worldwide, thereby eliminating the need for individual security teams to analyze and develop expertise in defending against each new cyberattack. CylancePROTECT is actively protecting countless potential attack victims with an independent conviction engine that operates on network endpoints, including those connected to air-gapped networks.
About Cylance Inc.
Cylance is the first company to successfully apply artificial intelligence, algorithmic science and machine learning to cybersecurity and improve the way companies, governments and end users proactively solve the world's most difficult security problems. Using a breakthrough mathematical process, Cylance quickly and accurately identifies what is safe and what is a threat, expanding beyond what is in a blacklist or whitelist. By coupling sophisticated math and machine learning with a unique understanding of a hacker's mentality, Cylance provides the technology and services that are predictive and preventive against advanced threats. For more information, visit: www.cylance.com.
About Citi Ventures
Citi Ventures accelerates innovation at Citi through a strategic focus on investing in, piloting and commercializing new solutions with the potential to transform the future of financial services. Headquartered in Silicon Valley with offices in San Francisco and New York, Citi Ventures aims to cultivate next-generation experiences for Citi's customers by investing in startups, experimenting with new technologies through its global lab network, and driving enterprise-wide, lean startup-based growth initiatives across Citi's businesses. The team focuses in five key areas: Financial Technology, Commerce & Payments, Security & Enterprise IT, Big Data & Analytics, and Marketing & Customer Experience. Citi Ventures accelerates its portfolio companies' ability to scale through collaboration with Citi's global businesses and industry experts.
Media Contacts
Cynthia Siemens
Director, PR and Communications
Cylance Inc.
+1(949) 242-9221
[email protected]
Jill Gerig
InkHouse PR
+1(916) 215-3286
[email protected]
SOURCE Cylance Inc.
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