SAN FRANCISCO, CA, Menlo Security, today announced it has closed a $10.5 million Series A funding round led by General Catalyst Partners.
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Stealth cyber security startup, Menlo Security, today announced it has closed a $10.5 million Series A funding round led by General Catalyst Partners with participation from Osage University Partners. General Catalyst Managing Director and former VMware CTO, Steve Herrod, will join the company's board of directors. The board of directors also includes industry luminary Tom Gillis, CEO of Bracket Computing and former GM of Security Technology at Cisco Systems.
'The vast majority of malware infections -- over 90 percent -- are delivered via web browsing and email, yet today's signature-based detection tools, and the even newer set of virtual execution technologies, fail to definitively mitigate this threat,' said Menlo Security co-founder and CEO, Amir Ben-Efraim. 'Businesses are desperate for a security solution that eliminates malware versus layers upon layers of products all failing to stop the latest attacks.'
According to Gartner, Inc., businesses will spend over $71 billion on information security in 20141, yet that investment is failing to stop the nearly $400 billion global loss2 as a result of cyber crime.
'Security today is still based on the premise that one can determine whether something is good or bad. This idea has been the backbone of nearly every security technology introduced over the last 20 years, yet that premise is fundamentally flawed,' said Tom Gillis, Menlo Security Board Member and CEO of Bracket Computing. 'Menlo Security is bringing together some of the brightest minds in security, virtualization and cloud computing to tackle this problem and rethink cyber security.'
'The constant drumbeat of highly visible security breaches has made cyber security a top priority and a board-level discussion for businesses today,' said Steve Herrod, Managing Director, General Catalyst Partners. 'Companies have invested billions in deploying cyber security tools, yet malware infections are more common now than ever before. Security innovation has essentially stalled. Menlo Security's approach introduces a new security model, ushering in a new era in the battle against malware.'
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Learn more about Menlo Security's beta program here
Watch Steve Herrod talk about the market problem here
About Menlo Security
Menlo Security, a stealth cyber security startup, is eliminating the threat of advanced malware by introducing a new security model. Trusted by some of the world's largest enterprises, the company is selectively engaging in private trials. Menlo Security was founded by experienced security executives from Check Point Software and Juniper Networks, in collaboration with renowned academics from the University of California, Berkeley. Backed by General Catalyst Partners and Osage University Partners, Menlo Security is headquartered in Menlo Park, California. Visit www.menlosecurity.com