Cybersecurity firm Cylance bags $20M in Series B round
Cybersecurity company Cylance secured $20 million in its Series B round, TechCrunch reported.
The financing for the firm founded by Stuart McClure came from Blackstone, Khosla Ventures, Fairhaven Capital and a private investor group. McClure previously worked as CTO for Global McAfee. Last year, Cylance got $15 million in its Series A funding round, the report said.
Using machine learning and algorithmic modeling, Cylance is positioned as one of the most sophisticated threat detection tools today. It also continues to evolve its technology based on fresh threats like malware and other online attacks that are occurring in real-time, the report said.
In a statement, McClure said, "Cylance has long held the belief that security isn't rocket science, it just needs to be incredibly effective and silent - and applying math is the secret. The hacking abilities of malicious actors have far outpaced the capacity of the human defender. It's time for the old security models to fade out and bring in the new. We don't ever have to trust the vendor anymore to determine whether something is safe or not, we can just 'trust the math'."
In an interview last year, McClure told TechCrunch that prevention is essential, likening protecting systems to how fit individuals take care of their bodies. If a person needs preventative nutrients to stay healthy, the systems of companies also need to be treated in a similar manner, except the nutrients they require are data algorithms. If preventative measures are in place, organizations are more able to withstand the attack and not easily fall victim to it, the report said.
As attacks become more advanced, cybersecurity offerings that provide a preventative and evolving strategy to combat attacks such as that of Cylance, are more attractive to companies and investors alike. Consolidations are also happening in the field of cybersecurity. Palo Alto Networks recently bought Morta and FireEye acquired Mandiant in a $1 billion deal, TechCrunch reported.