Menlo Security Raises $100 Million, Boosts Valuation to $800 Million
Menlo Security, a cloud security provider, has raised $100 million in a Series E financing round led by investment firm Vista Equity Partners and increased its total valuation to $800 million, according to a prepared statement. The news comes after Menlo recently reported 155 percent annual recurring revenue growth and over a 100 percent increase in average deal size.
With the Series E financing, Menlo will increase its engineering investments to accelerate product delivery and category expansion, the company said. Menlo also will use the funding to ensure that it can meet the rising demand for its Secure Web Gateway (SWG) and Secure Access Service Edge (SASE) solutions.
A Closer Look at Menlo’s SWG and SASE Solutions
Menlo’s SWG solution helps organizations eliminate cyber threats and reduce their attack surface, the company stated. It leverages a direct-to-Internet architecture that ensures organizations can maintain fast connections with minimal latency and offers malware-free browsing to help end-users avoid malicious web content.
Meanwhile, Menlo delivers SASE via the VMware Cloud Web Security service, which was introduced earlier this year. VMware Cloud Web Security offers SWG, cloud access service broker (CASB), data loss prevention, sandbox and remote browser isolation capabilities to help protect remote workers against cyberattacks.
Menlo remains “laser-focused” on providing organizations with a cloud security platform that they can use to mitigate cyber threats and ensure that their workers can remain productive from locations around the globe, the company indicated. In addition to SWG and SASE, Menlo offers cybersecurity solutions designed to eliminate the threat of malware from the web, documents and email.