Menlo Security, a US-based cloud security software provider backed by payment services provider American Express, financial services firm HSBC and communications equipment producer Ericsson, secured $100m in series E funding today.
Investment firm Vista Equity Partners led the round, which valued the company at $800m. It included investment banking firm JP Morgan, General Catalyst, Neuberger Berman funds and undisclosed existing backers.
Founded in 2013, Menlo provides cybersecurity technology that helps protect enterprise customers from malware across the web, email and documents by isolating content. The series E proceeds will support the expansion of its engineering and go-to-market activities.
Clients advised by JP Morgan Asset Management led Menlo’s last round, a $75m series D round in July 2019 that included HSBC, American Express Ventures, Osage University Partners (OUP), Engineering Capital, General Catalyst and Sutter Hill Ventures.
The company had raised $40m in a 2017 series C round featuring Ericsson unit Ericsson Ventures, American Express Ventures, JPMorgan Chase, HSBC and existing investors OUP, General Catalyst, Engineer Capital and Sutter Hill Ventures that took its total funding to $85m.
Amir Ben Efraim, Menlo’s chief executive, said: “We are on a mission to empower organisations with the essential cloud security platform they need to outsmart and eliminate threats to protect productivity.
“This new round of financing and partnership with the Vista team provides us with the means to accelerate our execution capabilities across all dimensions of the business and meet the needs of our global customers as they transition to Zero trust and [secure access service edge]-based deployment models.”
