Halcyon Valuation, Funding & Investors

Halcyon is valued at $1B as of November 2024.

Last Halcyon valuation

$1B

Series C · Nov 2024

Last Halcyon funding round

$100M

Series C · Nov 2024

Cumulative funding Halcyon raised

$184M

across 3 funding rounds

Key investors in Halcyon

  • Bain Capital Ventures
  • SYN Ventures
  • Founders Fund
  • Dell Technologies Capital
  • Cisco Investments
  • N47

Halcyon Overview

About Halcyon

Halcyon is a cybersecurity company headquartered in Tel Aviv, Israel, developing AI-powered ransomware protection for enterprises. Its platform uses pre-execution detection, behavioral analysis, and decoy files across Windows, Mac, and Linux endpoints. Launched in 2021, Halcyon protects financial firms and healthcare providers in Europe and North America.


Founded

2021

HQ

United StatesAustin, TX

Website

halcyon.ai

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$1B (Nov 2024)

Halcyon Valuation

Halcyon is currently valued at $1B, based on its Series C in November 2024.

The $100M round was led by Cisco Investments and Evolution Equity Partners, with participation from N47, ServiceNow Ventures, Corner Capital Management, Bain Capital Ventures, Dropbox Ventures and 2 other investors.

Halcyon valuation by funding round

Halcyon valuation by funding round
DateStageValuation
Nov 2024Series C$1B

Halcyon Funding History

Halcyon has raised a total of $184M across 3 funding rounds.

Halcyon's first fundraising round was a $44M Series A in April 2023. The most recent completed round was a $100M Series C in November 2024.

Halcyon funding rounds

Halcyon funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2024Series CCisco Investments (lead); Evolution Equity Partners (lead); N47; ServiceNow Ventures; Corner Capital Management; Bain Capital Ventures; Dropbox Ventures; Harmony Partners; SYN Ventures$100M$1BHalcyon is an Austin, Texas-based cybersecurity company specializing in anti-ransomware protection. Its platform uses a lightweight agent combining prevention engines with AI models trained exclusively on ransomware data, offering multi-tiered defenses including pre-execution blocking of known threats, analysis of suspicious executables, and features like 'Key Capture' to minimize operational disruption by tricking ransomware or exploiting its hardcoded behaviors. No Halcyon customers have paid ransom demands. On November 25, 2024, Halcyon closed a $100 million Series C funding round led by Evolution Equity Partners and Cisco Investments, with participation from Bain Capital Ventures, SYN Ventures, Harmony Partners, Corner Capital Management, Dropbox Ventures, ServiceNow Ventures, and N47. The round valued the company at $1 billion post-money, bringing total funding to $190 million across three rounds: $50 million Series A in April 2023 and $40 million Series B in December 2023. Evolution Managing Partner Richard Seewald joined the board. Funds will fuel growth and expand Halcyon's mission to combat ransomware, amid a threat landscape where companies faced over $1 billion in extortion in 2023. The unicorn status positions Halcyon among recent large cyber rounds like Cyera's $300 million Series D at $3 billion and Armis Security's $200 million at $4.2 billion.
Dec 2023Series BBain Capital Ventures (lead)$40M-Halcyon is an Austin, Texas-based cybersecurity company specializing in anti-ransomware solutions, offering a platform that prevents, mitigates, and recovers from ransomware attacks using AI and machine learning trained on ransomware samples. The company raised $40 million in an oversubscribed Series B funding round on December 19, 2023, led by Bain Capital Ventures, following a $50 million Series A in April 2023, bringing total 2023 funding to $90 million and overall raised to $84-90 million at that point. Bain Capital Ventures Partner and former Symantec CEO Enrique Salem joined the board, and BCV Partner Jeff Williams became Chief Revenue Officer. The Series B funds were allocated to expand engineering, R&D, sales, and marketing efforts to accelerate growth, acquire talent, enhance product lines, build services, and target enterprise clients in education, financial services, and healthcare. CEO Jon Miller noted the round built relationships with new VCs like Bain Capital Ventures amid a challenging VC cybersecurity market, despite rising ransomware threats, with plans to double the 75-person workforce by end-2024. Halcyon operates in a market where ransomware affected 72% of businesses in 2023, with victims paying over $400 million by July, and protection software projected to grow 15% over five years. Later, in November 2024, Halcyon raised a $100 million Series C led by Evolution Equity Partners at a $1 billion valuation, with Bain Capital Ventures participating, bringing total funding to $190 million.
Apr 2023Series ACorner Ventures (lead); SYN Ventures (lead); Founders Fund; Dell Technologies Capital; Gula Tech Adventures$44M-Halcyon is a cybersecurity company offering an anti-ransomware platform that provides layered protection including pre-execution detection, behavioral modeling, deception techniques, resiliency, recovery, and isolation of impacted nodes. The company raised $44 million in a Series A equity round plus $6 million in debt on April 20, 2023, led by SYN Ventures and Corner Ventures, with participation from Dell Technologies Capital and others including Founders Fund and Gula Tech Adventures. Total funding prior to this round was approximately $6 million since 2020, bringing cumulative funding to around $50 million. Funds are allocated to expand engineering, R&D, sales, and marketing efforts. Halcyon positions itself as the first solution designed specifically to defeat ransomware through a multi-tiered approach: preventing initial intrusion, disrupting attacks, and reversing ransomware effects. CEO Jon Miller emphasized engineering the platform to embrace failure, using multiple prevention and detection techniques trained on years of real ransomware attacks to make ransomware unprofitable for attackers. The company briefly faced impacts from the Silicon Valley Bank collapse but diversified banking relationships. Halcyon later raised a $100M Series C at $1B valuation. The cybersecurity sector faces funding challenges, yet demand for ransomware defense remains strong.

Who has invested in Halcyon?

13 investors have backed Halcyon across its funding rounds, including Bain Capital Ventures, SYN Ventures, Founders Fund, Dell Technologies Capital, Cisco Investments and N47.

Lead investors include Cisco Investments, Evolution Equity Partners, Bain Capital Ventures, Corner Ventures and SYN Ventures.


Halcyon Investors

Investors in Halcyon by funding rounds participated
InvestorHQRoundsRoleFirst check
Bain Capital VenturesUnited StatesSan Francisco, CA2LeadDec 2023
SYN VenturesUnited StatesWest Palm Beach, FL2LeadApr 2023
Evolution Equity PartnersUnited StatesNew York City, NY1LeadNov 2024
N47United StatesSan Francisco, CA1ParticipantNov 2024
ServiceNow VenturesUnited StatesUnited States1ParticipantNov 2024
Cisco InvestmentsUnited StatesUnited States1LeadNov 2024
Corner Capital ManagementUnited StatesSan Francisco, CA1ParticipantNov 2024
Founders FundUnited StatesSan Francisco, CA1ParticipantApr 2023
Corner VenturesUnited StatesSan Francisco, CA1LeadApr 2023
Dropbox VenturesUnited StatesSan Francisco, CA1ParticipantNov 2024
Harmony PartnersUnited StatesNew York City, NY1ParticipantNov 2024

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Halcyon Competitors

Halcyon competitors include listed companies like NSFOCUS and Rapid7, and private ones like Aikido Security, Aqua Security, BigID and BlueVoyant.

Public and private companies comparable to Halcyon
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Aikido SecurityBelgiumGhentPrivate$13M-$1B76.9x
Aqua SecurityIsraelRamat GanPrivate--$1B-
BigIDUnited StatesNew York City, NYPrivate$100M-$1B10.0x
BlueVoyantUnited StatesNew York City, NYPrivate--$1B-
NSFOCUSChinaChinaPublicly listed$379M$37M$955M2.4x
Rapid7United StatesUnited StatesPublicly listed$860M$63M$836M1.3x

Halcyon Public Comps

Halcyon is still privately-owned, but its public comps include NSFOCUS, BeiJing Certificate, Yubico, Rapid7, Riskified, Asiainfo Security, Mitek Systems, Eastcompeace Tech, Red Violet and CANCOM.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
NSFOCUS$379M$37M2.6x2.4x26.1x25.6x
BeiJing Certificate$125M($12M)6.7x-(70.9x)-
Yubico$226M$19M3.3x3.2x39.7x25.6x
Rapid7$860M$63M1.3x1.3x17.4x6.8x
Riskified$345M($31M)1.8x1.6x(20.3x)19.0x
Asiainfo Security$1.2B($11M)1.2x1.1x(126.2x)339.7x
Mitek Systems$180M$37M4.1x3.7x19.9x11.2x
Eastcompeace Tech$197M$26M4.8x-36.4x-

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Common questions about Halcyon

When was Halcyon founded?Halcyon was founded in 2021.
Where is Halcyon headquartered?Halcyon is headquartered in Austin, TX, United States.
Is Halcyon publicly listed?No, Halcyon is a private, VC-backed company.
What is Halcyon's valuation?Halcyon was last valued at $1B in its Series C in November 2024.
How much funding has Halcyon raised?Halcyon has raised $184M across 3 funding rounds.
What was Halcyon's last funding round?Halcyon's last funding round was a $100M Series C in November 2024, led by Cisco Investments and Evolution Equity Partners.
Who are Halcyon's investors?Halcyon's investors include Bain Capital Ventures, SYN Ventures, Evolution Equity Partners, N47, ServiceNow Ventures, Cisco Investments, Corner Capital Management, Founders Fund, Corner Ventures, Dropbox Ventures and 3 others.
Which companies are comparable to Halcyon?Companies comparable to Halcyon include Aikido Security, Aqua Security, BigID, BlueVoyant, NSFOCUS and Rapid7.

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