Menlo Security, a California-based startup, raised $40 million in a C Series round with investments from American Express Ventures, Ericsson Ventures, and HSBC, to bring its total funding to $85 million in funds.
The new funds will be used in the international expansion of operations and to grow its sales and marketing efforts globally. “We want to continue to invest in innovation,” said Menlo’s CEO, Amir Ben Efraim in an official announcement. “The bad guys aren’t resting. We have to make sure our platform remains cutting edge,” he added.
Menlo Security came out of obscurity in 2015 with its Menlo Security Isolation Platform (MSIP), a program that basically sits between the end user’s device and the internet. The approach to eliminate the malware here is different and uses the power of cloud computing to redirect all the web access requests to a proxy via the MSIP which connects to a site and then streams a safe version of the website to the end user’s device.
“What we do is we take your web browser and run it in a virtual environment in the cloud. It isolates and executes all web content, email links, and documents in virtual machines (VMs) running in the cloud, then streams a malware-free version of the content to employees’ computers,” Efraim said.
Cybersecurity continues to be a hot investment. Just a couple of months ago, Google Venture arm GV invested in SecurityScoreCard. Other startups in the market, like SentinelOne, Attivo Networks, and Darktrace have from $21 to $75 million.
Estimates by industry analysts foresee the Cybersecurity workforce growing to two million workers by 2022. “An environment free from malware is absolutely essential in fostering innovation, collaboration, and discovery,” said Albert Kim, head of Ericsson Ventures.