US-based cybersecurity technology provider Cylance closed a $42m series C round yesterday featuring computer technology company Dell, financial services provider Capital One and healthcare software developer TenEleven.
Dell Ventures, Capital One Ventures and TenEleven Ventures, the companies’ corporate venturing units, invested alongside DFJ Growth, which led the round, KKR, Thomvest, DraperNexus, Fairhaven Capital, Khosla Ventures and Blackstone.
Cylance has developed a cybersecurity platform called CylanceProtect, which uses artificial intelligence to predict impending attacks and stop them before a successful intrusion. The platform learns from previous threats to continuously increase efficiency.
The company, which claims it is already profitable, will use the series C funding to increase its sales and marketing efforts, and to expand internationally.
Blackstone, Khosla, Fairhaven and private investors provided $20m in series B funding for Cylance in February 2014. Khosla and Fairhaven previously co-led the company’s $15m series A round in 2013.