Cylance AI-Powered Threat Prevention Raises $120 Million in Funding
The funding arrives amid continued speculation about a potential Cylance IPO.
The company plans to use the financing to bolster its sales, marketing and development efforts, expand its global footprint across Europe, the Middle East and Asia Pacific regions and enhance its cybersecurity solutions, according to a prepared statement.
In addition to completing a funding round, Cylance last month opened worldwide headquarters in Irvine, California. The HQ is located in the Irvine Spectrum Center.
The Irvine HQ supports Cylance’s growth strategy and its mission to recruit top talent and advance its position as a global endpoint protection leader, according to the business. It hosts more than 350 employees and features 135,000 square feet of office space.
How Did Cylance Perform in FY 18?
Cylance exceeded $130 million in annual revenues in fiscal year 2018, Chief Financial Officer Brian Robins indicated. It also posted 90 percent year-over-year growth during the time frame.
Furthermore, Cylance today has more than 4,000 customers, including 20 percent of the Fortune 500. It has displayed “market success, scale and traction,” Robins noted, and looks poised to become cash flow positive in the near future.
Cylance offers endpoint security products and services designed to help organizations proactively prevent advanced persistent threats (APT) and malware. The company’s cybersecurity solutions have been deployed on over 10 million endpoints and protect hundreds of enterprises worldwide.
The Cylance cybersecurity solutions portfolio includes a variety of AI-powered products and services, such as:
- CylancePROTECT: Uses AI and machine learning to identify malware before it can execute.
- CylanceOPTICS: Offers AI-driven threat prevention, purpose-built attack mitigation, situational awareness and automated incident response capabilities.
- CylanceV: Leverages the CylanceINFINITY Cloud and AI and machine learning techniques to hunt down threats across an organization or on a single compromised system.
Cylance also offers the Axiom Alliances Program for MSSPs and other technology providers. This program enables technology providers to use Cylance application programming interfaces (APIs) to uncover emerging threats in real-time from within their existing systems, the company stated.