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Cylance PR Team
Bolsters Strength in Financial Services Sector and Positions Company for Continued Global Expansion
IRVINE, CALIFORNIA, June 30, 2016 - Cylance® Inc., the first cybersecurity company to successfully apply artificial intelligence algorithms to predictively identify and stop malware and advanced threats, today announced the final close of its $100 million Series D funding round with strategic partner Citi Ventures. Insight Venture Partners and funds managed by Blackstone Tactical Opportunities led the round.
“Cylance is building a better future where our personal and organizational data and devices are safe from cybercrime, and we’re doing it by collaborating with forward-thinking customers, colleagues and investment partners,” said Cylance president and CEO Stuart McClure. “By partnering with one of the biggest and most innovative financial institutions in the world, we’re positioned to continue our rapid progress in the mission of protecting every computer under the sun.”
“Rapid evolution in technology and the cyberthreat landscape means enterprise and personal systems alike constantly face new challenges that require top-notch security to keep systems safe,” said Arvind Purushotham, Managing Director and Co-head of Venture Capital at Citi Ventures. “Cylance’s predictive AI technology offers a unique, highly scalable, proven antivirus solution that represents the next generation of cybersecurity.”
Recognized by Gartner in its 2016 Magic Quadrant for Endpoint Protection Platforms (EPP), the company has achieved a number of significant milestones, including:
- • Three patents, with five patents pending
- • 1000+ customers, including 50 of the Fortune 500
- • Launch into UK, Nordic, Australia/New Zealand, Latin American and Japanese markets
- • 1089 percent growth in billing year over year
- • 425 employees
- • Market penetration in 20 vertical industries
Through the application of algorithmic science and machine learning, the company’s flagship product, CylancePROTECT® is uniquely able to identify and prevent zero-days and other forms of advanced and targeted attacks currently impacting businesses and government agencies worldwide, thereby eliminating the need for individual security teams to analyze and develop expertise in defending against each new cyberattack. CylancePROTECT is actively protecting countless potential attack victims with an independent conviction engine that operates on network endpoints, including those connected to air-gapped networks.
About Citi Ventures
Citi Ventures accelerates innovation at Citi through a strategic focus on investing in, piloting and commercializing new solutions with the potential to transform the future of financial services. Headquartered in Silicon Valley with offices in San Francisco and New York, Citi Ventures aims to cultivate next-generation experiences for Citi’s customers by investing in startups, experimenting with new technologies through its global lab network, and driving enterprise-wide, lean startup-based growth initiatives across Citi’s businesses. The team focuses in five key areas: Financial Technology, Commerce & Payments, Security & Enterprise IT, Big Data & Analytics, and Marketing & Customer Experience. Citi Ventures accelerates its portfolio companies’ ability to scale through collaboration with Citi’s global businesses and industry experts.
About Cylance® Inc.
Cylance is the only company to offer a preventive cybersecurity solution that stops advanced threats and malware at the most vulnerable point: the endpoint. Applying a revolutionary artificial intelligence approach, the Cylance endpoint security solution, CylancePROTECT®, analyzes the DNA of code prior to its execution on the endpoint to find and prevent threats others can’t, while using a fraction of the system resources associated with endpoint antivirus and detect and respond solutions that are deployed in enterprises today. For more information visit: www.cylance.com
Cylance and CylancePROTECT are registered trademarks or trademarks owned by Cylance Inc. in the United States and other jurisdictions and may not be used without prior written permission. All other trademarks are the property of their respective owners.