US-based cybersecurity software developer Menlo Security closed a $40m series C round on Monday featuring payment services firm American Express, telecommunications technology producer Ericsson and financial services firms JPMorgan Chase and HSBC.
Venture capital firms General Catalyst, Osage University Partners and Engineer Capital also took part, as did private equity firm Sutter Hill Ventures, while Amex and Ericsson took part through their respective corporate venturing units, American Express Ventures and Ericsson Ventures.
Menlo has developed a cybersecurity platform to protect against malware attacks. The platform isolates all web and email content in the cloud, streaming a malware-free version of the content to users’ devices.
The company’s customers include retailer Macy’s, IT services and technology provider Fujitsu and financial services firm First Community Bank. It claims to have protected millions of users with zero infections to date, and the capital will be used to expand its sales and marketing operations.
The round increased Menlo’s total funding to $85m, most recently bringing in $25m in a series B round led by Sutter Hill in 2015, when it emerged from stealth.
General Catalyst, Osage University Partners and Engineering Capital also contributed to the series B round, the first two having invested in its $10.5m series A in 2014.
Amir Ben Efraim, Menlo Security’s CEO, said: “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.”