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Cylance Raises $42 Million In Series C Funding

Cylance, an Irvine, California-based threat protection firm, has lined its pockets with new cash, thanks to a $42 million Series C funding round led by DFJ Growth.

Announced on Tuesday, Cylance said the capital investment would be used to accelerate sales and marketing, and help support business expansion globally.

The company says that it currently profitable, growing more than 400 percent year-over-year, and lists Fortune 500 customers including 20 of the top Energy and Oil & Gas companies, 34 of the top Healthcare companies, 43 of the top Bank and Financial Services companies and 46 of the top High-Tech companies in the world.

The company’s flagship endpoint security product, CylancePROTECT, takes a mathematical and machine learning approach to identifying and containing zero day and advanced attacks. 

“The use of math and machine learning in enterprise security has tremendous potential. Cylance brings a unique methodology and lens to the market, which we are eager to watch as IT infrastructures and threats continue to evolve,” customer Tony Spinelli, senior vice president and chief information security officer of CapitalOne, said in a statement.

New investors Thomvest and DraperNexus, in addition to previous investors Blackstone, Fairhaven Capital and Khosla Ventures participated in the round. Other investors, including KKR, Dell Ventures, CapitalOne Ventures and TenEleven Ventures, also participated in the funding.

As part of the deal, Cylance said Mark Bailey, former senior Symantec executive and DFJ Growth co-founder and managing director, will join the Cylance board of directors.

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For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.