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- Cylance
Cylance Revenue, Valuation, Funding & Investors
Cylance is valued at $1B as of June 2016, a 7.7x revenue multiple. Cylance revenue was $130M, as disclosed with its June 2018 round.
Last Cylance valuation
$1B
Series D · Jun 2016
Last Cylance funding round
$120M
Series E · Jun 2018
Cylance revenue
$130M
Series E · Jun 2018
Key investors in Cylance
Khosla Ventures
Blackstone
Fairhaven Capital Partners
ClearSky
KKR
Dell Technologies Capital
Cylance Overview
About Cylance
Cylance is a cybersecurity software business founded in 2012 and based in Irvine, California. The company developed endpoint protection technology that applies mathematical models and machine learning to identify and prevent malicious software from running on computers and other devices. Its products include CylancePROTECT, which was designed to block threats without relying solely on traditional signature databases. The business serves enterprises and other organisations seeking protection for their information systems, including customers in financial services, healthcare and critical infrastructure. It earns revenue from security software subscriptions and associated cybersecurity services. Cylance received venture and growth investment before BlackBerry acquired the company in February 2019. The operating business was distinct from BlackBerry before that acquisition, and its earlier funding rounds belong to Cylance rather than to the Canadian parent.
Founded
2012
HQ
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Subscription, Services
Revenue
$130M (Jun 2018)
Valuation
$1B (Jun 2016)
Cylance Valuation
Cylance is currently valued at $1B, based on its Series D in June 2016. Read the announcement ↗
The $100M round was led by Blackstone and Insight Partners, with participation from KKR, Ten Eleven Ventures, Omega Venture Partners, Khosla Ventures, DFJ Growth and 5 other investors.
Cylance's valuation has grown 3.3x from $300M at its Series C in July 2015 to $1B in June 2016, across 2 priced rounds.
Cylance valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2016 | Series D | $1B | 7.7x |
| Jul 2015 | Series C | $300M | - |
Cylance Revenue
Cylance's latest recorded revenue is $130M, as of its Series E in June 2018.
Revenue moved from $130M in June 2016 to $130M in June 2018.
Cylance revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2018 | $130M | - | - | Series E |
| Jun 2016 | $130M | $1B | 7.7x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Cylance Funding History
Cylance has raised a total of $297M across 5 funding rounds.
Cylance's first fundraising round was a $15M Series A in February 2013. The most recent completed round was a $120M Series E in June 2018.
Cylance funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jun 2018 | Series E | Blackstone (lead) | $120M | - | Cylance, an Irvine, California-based endpoint security firm founded in 2012 by former McAfee veterans Stuart McClure and Ryan Permeh, develops AI and machine learning-powered solutions like CylancePROTECT for predictive threat prevention, identifying zero-day attacks and malware before execution using mathematical models. The company announced a $120 million funding round on June 19, 2018, led by funds managed by Blackstone Tactical Opportunities with other investors participating, bringing total funding to $297 million across five rounds. Proceeds were earmarked for sales, marketing, development to boost market share, global expansion in Europe, Middle East, and Asia Pacific, and new product offerings. Cylance reported annual revenues over $130 million for fiscal year 2018, with more than 90% year-over-year growth, over 4,000 customers including 20% of the Fortune 500, and protection for over 10 million endpoints worldwide, having prevented over 23 million attacks including 4 million unknown ones. The firm highlighted its 'predictive advantage,' blocking threats like ransomware and fileless attacks an average of 25 months before discovery, positioning it against rivals like CrowdStrike, which announced a $3 billion valuation round hours earlier. CFO Brian Robins emphasized demonstrated market traction and path to cash flow positivity. Blackstone, an early backer via a prior $20 million Series B, expanded commitment through its Tactical Opportunities group, with executives Viral Patel and advisor Dave Johnson praising Cylance's AI approach to countering cyberattacks disrupting operations. The timing of the announcement followed competitive funding news, underscoring intensity in the endpoint security market. |
| Jun 2016 | Series D | Blackstone (lead); Insight Partners (lead); KKR; Ten Eleven Ventures; Omega Venture Partners; Khosla Ventures; DFJ Growth; Capital One Ventures; Citi Ventures; ClearSky; Dell Technologies Capital; Fairhaven Capital Partners | $100M | $1B | Cylance Inc. is a cybersecurity company founded in 2012 that applies artificial intelligence algorithms to predictively identify and stop malware and advanced threats at the endpoint. It offers next-generation endpoint protection platforms, distinguishing itself through prevention-focused technology rather than detection. By June 2016, Cylance had achieved significant traction, serving over 1,000 companies including government agencies and large businesses, protecting millions of endpoints, with product billings growth exceeding 1,000% and customer growth of 785% since launch, earning recognition from Gartner as the fastest-growing EPP startup in the past decade. On June 8, 2016, Cylance closed the initial tranche of its $100 million Series D funding round, led by Blackstone Tactical Opportunities and Insight Venture Partners, with participation from existing investors such as Capital One Ventures, Citi Ventures, ClearSky, Dell Technologies Capital, DFJ Growth, Fairhaven Capital Partners, Khosla Ventures, KKR, Omega Venture Partners, and Ten Eleven Ventures. This brought total funding raised to over $177 million. Sources close to the company indicated a post-money valuation around $1 billion, also reported by the Financial Times and analysts, marking Cylance as a unicorn. The funds were allocated to fuel rapid business expansion, including sales, marketing, engineering, and go-to-market strategies for its endpoint protection offerings, as well as international growth into Europe, the Middle East, and Asia-Pacific. Investors highlighted Cylance's strong track record, elegant prevention technology, impressive customer base, and growth metrics, including successful deployments at Blackstone portfolio companies. The company aimed to leverage this capital to solidify its position in the burgeoning cybersecurity market, projected to grow significantly through 2020. |
| Jul 2015 | Series C | DFJ Growth (lead); KKR; Ten Eleven Ventures; Blackstone; DNX Ventures; Khosla Ventures; Capital One Ventures; ClearSky; Dell Technologies Capital; Fairhaven Capital Partners; Thomvest Ventures | $42M | $300M | Cylance, an Irvine, California-based cybersecurity company, develops AI-based endpoint security software using mathematical and machine learning approaches to detect and prevent zero-day and advanced threats, with its flagship product CylancePROTECT replacing traditional signature-based antivirus solutions. The company raised $42 million in its Series C funding round on July 28, 2015, led by DFJ Growth, with participation from investors including Blackstone, Capital One Ventures, ClearSky, Dell Technologies Capital, DNX Ventures (Draper Nexus), Fairhaven Capital Partners, Khosla Ventures, KKR, Ten Eleven Ventures, and Thomvest Ventures. The funds were allocated to accelerate sales and marketing efforts, support global business expansion, build out channel programs, and enhance brand awareness across 20 verticals. At the time of the Series C, Cylance reported being profitable and achieving over 400% year-over-year growth, excluding multimillion-dollar deals which would elevate growth beyond 4,000%, with strong traction among Fortune 500 customers including 20 top Energy and Oil & Gas firms, 34 top Healthcare companies, 43 top Bank and Financial Services, and 46 top High-Tech companies. The investment validated Cylance's rapid momentum in the next-generation endpoint security market amid evolving IT threats. Post-Series C, Cylance continued its growth trajectory, raising an additional $100 million in Series D funding in June 2016 led by Blackstone Tactical Opportunities and Insight Venture Partners, bringing total funding to $177 million. This later round fueled further global expansion and channel strategies, with reported 1,089% product billings growth and 785% customer growth since 2012. Analysts later estimated Cylance's valuation exceeded $1 billion following the Series D, positioning it as a unicorn in the cybersecurity sector projected to grow significantly through 2020. |
| Feb 2014 | Series B | Alex Doll; Blackstone; Khosla Ventures; ClearSky; Fairhaven Capital Partners | $20M | - | Cylance, an Irvine, California-based cybersecurity company founded by former McAfee CTO Stuart McClure, closed a $20 million Series B funding round on February 20, 2014, led by Blackstone, Khosla Ventures, Fairhaven Capital Partners, and private investors including Alex Doll. The round followed a $15 million Series A the previous year and aimed to accelerate the company's security platform and go-to-market strategy in the endpoint security market. Cylance's technology uses mathematical and machine learning approaches for threat detection and prevention, distinguishing safe from malicious files without signatures, rules, heuristics, or sandboxing. Products like CylancePROTECT block malware execution on endpoints and mobile devices in real-time. The funding supported expansion of Cylance's Infinity Platform, which applies algorithmic science to evolve with new threats. CEO Stuart McClure emphasized applying math to outpace human defenders against sophisticated hackers. Blackstone's CISO praised it as the most exciting endpoint security innovation, likening it to an expert security professional at every decision point. Later developments included a $100 million Series D in June 2016 led by Blackstone Tactical Opportunities and Insight Venture Partners, with 1089% product billings growth and 785% customer growth, and a $120 million Series E, reaching $130 million revenue in FY2018 with 90% year-over-year growth and over 4,000 customers including 20% of the Fortune 500. |
| Feb 2013 | Series A | Fairhaven Capital Partners (lead); Khosla Ventures (lead); Alex Doll | $15M | - | - |
Who has invested in Cylance?
15 investors have backed Cylance across its funding rounds, including Khosla Ventures, Blackstone, Fairhaven Capital Partners, ClearSky, KKR and Dell Technologies Capital.
Lead investors include Blackstone, Insight Partners, DFJ Growth, Fairhaven Capital Partners and Khosla Ventures.
Cylance Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Feb 2014 | ||
| 4 | Lead | Feb 2013 | ||
| 4 | Lead | Feb 2013 | ||
| 3 | Participant | Feb 2014 | ||
| 2 | Participant | Jul 2015 | ||
| 2 | Participant | Jul 2015 | ||
| 2 | Participant | Feb 2013 | ||
| 2 | Lead | Jul 2015 | ||
| 2 | Participant | Jul 2015 | ||
| 2 | Participant | Jul 2015 | ||
| 1 | Participant | Jun 2016 | ||
| 1 | Participant | Jul 2015 | ||
| 1 | Participant | Jun 2016 | ||
This data is available for Pro users. Sign up to see all 15 Cylance investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialCylance Competitors
Cylance competitors include listed companies like OneSpan and Rapid7, and private ones like Aikido Security, Aqua Security, BigID and BlueVoyant.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $13M | - | $1B | 76.9x | ||
| Private | - | - | $1B | - | ||
| Private | $100M | - | $1B | 10.0x | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $243M | $57M | $947M | 3.6x | ||
| Publicly listed | $860M | $63M | $1.1B | 1.6x |
Cylance Public Comps
Cylance is still privately-owned, but its public comps include Eastcompeace Tech, OneSpan, Rapid7, Riskified, BeiJing Certificate, NSFOCUS, Mitek Systems, AHNLAB, Global Security Experts and Asiainfo Security.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $198M | $26M | 3.9x | - | 29.3x | - | |||
| $243M | $57M | 3.7x | 3.6x | 15.8x | 12.6x | |||
| $860M | $63M | 1.6x | 1.6x | 21.8x | 8.6x | |||
| $345M | ($31M) | 2.7x | 2.3x | (29.9x) | 26.8x | |||
| $126M | ($12M) | 6.0x | - | (63.7x) | - | |||
| $382M | $37M | 3.1x | 2.9x | 31.8x | 31.4x | |||
| $180M | $37M | 4.3x | 3.9x | 20.8x | 11.5x | |||
| $200M | $45M | 2.9x | - | 12.6x | - | |||
This data is available for Pro users. Sign up to see all Cylance competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Cylance
| When was Cylance founded? | Cylance was founded in 2012. |
| Where is Cylance headquartered? | Cylance is headquartered in Irvine, United States. |
| Is Cylance publicly listed? | No, Cylance is a private, VC-backed company. |
| What is Cylance's valuation? | Cylance was last valued at $1B in its Series D in June 2016. |
| How much funding has Cylance raised? | Cylance has raised $297M across 5 funding rounds. |
| What was Cylance's last funding round? | Cylance's last funding round was a $120M Series E in June 2018, led by Blackstone. |
| Who are Cylance's investors? | Cylance's investors include Blackstone, Khosla Ventures, Fairhaven Capital Partners, ClearSky, KKR, Ten Eleven Ventures, Alex Doll, DFJ Growth, Capital One Ventures, Dell Technologies Capital and 5 others. |
| What is Cylance's revenue? | Cylance's latest recorded revenue is $130M (June 2018). |
| Which companies are comparable to Cylance? | Companies comparable to Cylance include Aikido Security, Aqua Security, BigID, BlueVoyant, OneSpan and Rapid7. |
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