VMRay Closes $10 Million Series B RoundSeptember 16, 2019 | Cyber SecurityEvents and News
Digital+ Partners Leads New Funding Round in Growing Automated Malware Analysis & Detection Provider to Combat Latest Advanced Threats and Support Market Expansion
Bochum, Germany – VMRay, a provider of automated malware analysis and detection solutions, today announced that it has closed its Series B round of funding in the amount of $10 million (€9 million) led by Digital+ Partners, one of the leading technology growth equity firms in Europe, and supplemented eCAPITAL, an early investor. This brings the total amount raised by the company to approximately €12 million following previous funding rounds led by eCapital and High-Tech Gruenderfonds. The company will use the new funding to expand its marketing program to reach new vertical markets, bolster its engineering team to enhance its platform capabilities, and better support its’ MSSP and VAR partners through an expanded channel program.
VMRay was founded by Dr. Carsten Willems and Dr. Ralf Hund in 2013, two early pioneers in automated malware analysis and detection, as a vehicle to transform their groundbreaking academic research into practical solutions for enterprise security teams. At the core of its flagship Analyzer platform is a sophisticated malware sandbox that is uniquely capable of rapidly identifying evasive malware threats that traditional dynamic analysis approaches, static analysis tools, and signature-based security solutions often miss since they are unable to stop what they’ve never seen before or get detected by malware during analysis. As a result, VMRay Analyzer detects Zero-Day malware and advanced threats that can be missed by security solutions that rely primarily on those technologies.
“When we originally founded VMRay, our objective was simple: to provide comprehensive dynamic analysis in a way that cannot be detected by the latest and most complex malware strains. Many of the world’s largest enterprises and government agencies now rely on VMRay to provide the actionable threat intelligence they need to defend their network,” said Carsten Willems, co-founder, and CEO for VMRay. “In Digital+ Partners we have found a true partner who will help us grow our market share over the long term, forge new customer and channel relationships, and help us scale into a dominant player in the threat analysis and detection market.”
While global spending on IT security continues to grow, the threat detection and incident response segment of the market remains one of the primary drivers as enterprise security teams seek new strategies for early threat detection. Since the introduction of VMRay Analyzer, its automated malware analysis platform in 2016, the company has steadily rolled out a complete suite of inter-connected threat detection solutions, including:
VMRay Detector: Delivers rapid, fully automated threat detection at scale, without the need for human interaction
VMRay Email Threat Defender: Enables organizations to fend off phishing and targeted email attacks using VMRay’s patented hypervisor-based monitoring technology
VMRay Web Threat Defender: Seamlessly integrates VMRay Analyzer technology into the web gateway, analyzing and detecting malicious content that would otherwise bypass web proxies and firewalls.
Through these new products, VMRay has successfully evolved from being a single-user console built for security researchers into a mature, integrated, and multi-layered enterprise threat analysis and detection suite.
“Our investment philosophy at Digital+ is focused on identifying and investing in best-in-class technology vanguards who are driving innovations across the B2B software landscape,” said Thomas Jetter, managing director and founding partner at Digital+ Partners. “With an exceptional management team already in place and a battle-tested platform that has demonstrated value to some of the largest and most sophisticated customers around the globe, VMRay is precisely the type of company we are eager to partner with and support.”
“The most effective security teams today are not reactively responding to new threats but rather arming their teams with the advanced tools they need to identify tactics, techniques, and indicators of compromise at the earliest phase of the threat lifecycle,” said Andy Pendergast, VP of Product for ThreatConnect. “This is precisely what VMRay’s platform enables us to do, giving our customers the critical visibility and intelligence they need to defend their network from tomorrow’s advanced threats.”
”VMRay addresses an enormous need in the market”, added Willi Mannheims, managing partner at eCAPITAL. “With this growth rationale in place, we are participating again in this B round funding of the company.”