Banks back cybersecurity startup Menlo Security

Menlo Security, a isolation platform which protects organisations from cyberattacks, has closed a $40m Series C round.

The round, which brings the company’s total investment to $85m, included new investors American Express Ventures, Ericsson Ventures and HSBC. They join Menlo’s existing investors: JPMorgan Chase, General Catalyst, Sutter Hill Ventures, Osage University Partners and Engineering Capital.

Menlo Security’s Isolation Platform isolates and executes all web content, email links and documents in the cloud, then streaming a malware-free version of the content to employees’ computers via its Adaptive Clientless Rendering (ACR) technology.

To stay ahead of new, more sophisticated types of attacks, Menlo’s platform is accelerating across geographies and sectors, including finance, technology, manufacturing, hospitality, healthcare and the government.

Amir Ben Efraim, CEO of Menlo Security, said: “More than a million users at hundreds of companies are protected by Menlo, with zero infections to date. This has given the market tremendous confidence in our solution. Customers are demanding more durable approaches to malware prevention versus a long legacy of solutions that remain perennially vulnerable to the latest attacks.

“This funding allows us to respond to this opportunity by continuing to expand our deployments globally to meet this growing demand, while delivering on our vision of eliminating the phishing, ransomware and malware risks from email, web and document downloads.”

Headquartered in Palo Alto, California, Menlo is trusted by major global businesses, including Fortune 500 companies and financial services institutions.

The deal represents the second cybersecurity deal in as many months for JPMorgan Chase. Last month, the financial services giant backed ReversingLabs, a provider of cyber threat detection and analysis solutions, through its $25m Series A round.

Copyright © 2017 FinTech Global

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