US-based malware protection technology developer Lastline raised $28.5m in series C funding yesterday from a consortium that included cybersecurity companies Barracuda Networks and WatchGuard Technologies and financial services firm NTT Finance Corporation.
The round was led by Thomvest Partners and included investment firm Osage University Partners, venture capital firm Redpoint Ventures and unnamed, existing investors.
Founded in 2011, Lastline has created a software platform that detects malware and browser-based attacks, and prevents security breaches.
Lastline will use the proceeds from the round, which boosted its total funding to $49.4m, to accelerate growth. Thomvest partner Umesh and Barmark Meftah, president and CEO of cybersecurity software producer AlienVault, will join Lastline’s board of directors.
The company raised $10m in a 2014 round featuring Dell Ventures, the strategic investment arm of computer manufacturer Dell now superseded by Dell Technologies Capital, and Presidio Ventures, a corporate venturing subsidiary of trading firm Sumitomo, as well as Redpoint and E.ventures.
Christopher Kruegel, co-founder and chief executive of Lastline, said: “This powerful endorsement from the investment community speaks to the market need for a solution that delivers exceptional enterprise security at dramatically lower costs.
“Our investors recognise the significant opportunity in front of us and believe that Lastline is positioned for phenomenal success. This funding, strengthened board, and the resulting growth will solidify Lastline as the leader in advanced breach detection.”
– The original version of this article appeared on our sister site, Global University Venturing.