AUSTIN, Texas--(BUSINESS WIRE)--Halcyon, a leading platform designed from day one to defeat ransomware, today announced a strategic investment from Cisco Investments. The financing will be used to accelerate development and fuel adoption of the Halcyon anti-ransomware platform, furthering Halcyon’s mission to defeat ransomware and reinforcing the company’s position as a critical tool in the fight against cybercrime. Halcyon has raised over $90M to date.
“The support from Cisco Investments reinforces our position as the crucial piece of the puzzle in the battle against cybercrime,” said Jon Miller, CEO and Co-founder, Halcyon. “Concerns about ransomware are at the forefront for boards and executives everywhere and Halcyon’s approach is the most impactful method of disrupting ransomware and protecting organizations.”
Ransomware remains on the rise and existing prevention tooling is doing little to combat its growth. According to Halcyon research, two-thirds (66%) of organizations report being hit multiple times within the last 24-months while 58% report regularly losing sensitive data, putting them at risk of regulatory action and lawsuits. Furthermore, nearly two-thirds (62%) report major business disruption as a result of ransomware, with delays of between two and six months. The reality is that ransomware attacks have become a matter of when not if for most organizations and the business impact is potentially disastrous for organizations large and small.
“Ransomware has been a perpetual Cybersecurity pain-point for enterprises across the world,” said Janey Hoe, vice president, Cisco Investments. “Halcyon's deployment of bespoke artificial intelligence models to proactively identify ransomware strains, as well as instantaneous recovery of hijacked data, represents a robust AI enabled response to an endemic problem. We are proud to have Halcyon become a part of our $1B global AI-investment fund, announced earlier this year.”
Halcyon’s dedicated anti-ransomware platform insulates organizations from impacts of ransomware even in the event of a successful attack. Ransomware operators regularly bypass security prevention controls, but Halcyon’s unique key material capture and automated decryption tooling prevents threat actors from triggering ransomware payloads, while Halcyon exfiltration prevention prevents threat actors from executing extortion campaigns. With multiple layers of defense, powered by next-generation artificial intelligence and machine learning, trained solely on ransomware, Halcyon eliminates the need to pay ransoms and enables organizations to defeat ransomware with minimal business disruption.
For further information visit: www.halcyon.ai
ABOUT HALCYON
Halcyon is the leading anti-ransomware company. Global 2000 companies rely on the Halcyon platform to fill endpoint protection gaps and defeat ransomware with minimal business disruption through built-in bypass and evasion protection, key material capture and automated decryption, and exfiltration and extortion prevention. The Halcyon platform not only armors endpoints, reducing the chances of a successful attack, but delivers true ransomware resilience ensuring that organizations can recover.
