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- Halcyon
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
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Nov 2024 | Series 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2024 | Series C | Cisco Investments (lead); Evolution Equity Partners (lead); N47; ServiceNow Ventures; Corner Capital Management; Bain Capital Ventures; Dropbox Ventures; Harmony Partners; SYN Ventures | $100M | $1B | Halcyon 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 2023 | Series B | Bain 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 2023 | Series A | Corner 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Dec 2023 | ||
| 2 | Lead | Apr 2023 | ||
| 1 | Lead | Nov 2024 | ||
| 1 | Participant | Nov 2024 | ||
| 1 | Participant | Nov 2024 | ||
| 1 | Lead | Nov 2024 | ||
| 1 | Participant | Nov 2024 | ||
| 1 | Participant | Apr 2023 | ||
| 1 | Lead | Apr 2023 | ||
| 1 | Participant | Nov 2024 | ||
| 1 | Participant | Nov 2024 | ||
This data is available for Pro users. Sign up to see all 13 Halcyon investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialHalcyon Competitors
Halcyon competitors include listed companies like NSFOCUS 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 | $379M | $37M | $955M | 2.4x | ||
| Publicly listed | $860M | $63M | $836M | 1.3x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $379M | $37M | 2.6x | 2.4x | 26.1x | 25.6x | |||
| $125M | ($12M) | 6.7x | - | (70.9x) | - | |||
| $226M | $19M | 3.3x | 3.2x | 39.7x | 25.6x | |||
| $860M | $63M | 1.3x | 1.3x | 17.4x | 6.8x | |||
| $345M | ($31M) | 1.8x | 1.6x | (20.3x) | 19.0x | |||
| $1.2B | ($11M) | 1.2x | 1.1x | (126.2x) | 339.7x | |||
| $180M | $37M | 4.1x | 3.7x | 19.9x | 11.2x | |||
| $197M | $26M | 4.8x | - | 36.4x | - | |||
This data is available for Pro users. Sign up to see all Halcyon competitors and their valuation data. Start Free Trial | ||||||||
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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