Austin-based anti-ransomware firm Halcyon secured $40 million in a Series B funding round led by Bain Capital Ventures, reaching a total of $90 million raised this year. The investment aims to bolster engineering, R&D, and sales efforts as the company aggressively markets its cyber resilience platform to various sectors, particularly education, healthcare, and finance. Halcyon’s platform employs a multifaceted defense against ransomware, using a lightweight agent combining proprietary prevention engines and AI models specialized in combating ransomware attacks. It prevents execution, bypassing of security tools, and offers automated decryption, utilizing Capsule Neural Network machine learning to swiftly develop protective measures against new ransomware techniques. CEO Jon Miller emphasized the need for purpose-built tools in the fight against ransomware, highlighting the significance of Halcyon’s impact in addressing this pressing cybersecurity concern.
Read more: https://www.securityweek.com/halcyon-raises-40-million-for-anti-ransomware-platform/
