Malwarebytes Raises $30 Million in Series A Funding from Highland Capital Partners
Malwarebytes, the company founded to protect people and businesses from advanced online threats, today announced it has received $30 million in Series A funding from Highland Capital Partners. The new financing will be used to accelerate the global expansion of Malwarebytes’ cutting-edge security technologies, which stop sophisticated threats that defeat traditional endpoint security products.
Launched in 2008, Malwarebytes has gained a considerable following of consumer and enterprise customers who use its products to stop advanced malware, zero-day exploits and mobile threats. The company’s free software was recently named in an Opswat Anti-Virus Market Share report to have the second highest number of user-installs worldwide, behind only Microsoft.
Malwarebytes has recently announced two innovative new products, including one of the world’s first mass-market anti-exploit technologies. The company’s enterprise offering also continues to gain traction with organizations seeking to protect themselves from today’s targeted data breaches, contributing to significant revenue growth and a tripling of staff.
“With no previous funding, the Malwarebytes team has built an advanced engine which has stopped Billions of cutting-edge threats. The company’s reputation for detecting the most sophisticated malware in this way has created a hugely loyal customer-base,” said Corey Mulloy, Partner at Highland Capital Partners.
“With over 60 million quarterly active users, Malwarebytes already has significant market penetration,” added Jeremiah Daly, Partner at Highland Capital Partners. “We look forward to helping the company build on this user-base and continue developing innovative products which address the growing demands of today’s advanced threat landscape.”
“We’re proud to join the Highland Capital portfolio and this round of financing will accelerate our global expansion plans,” said Marcin Kleczynski, CEO of Malwarebytes. “It will allow us to continue building an even better company for protecting our devoted army of personal users and businesses all over the world.
Kleczynski continued, “It has been our goal from the very beginning to develop technology to fight cutting-edge malware, and we plan to create the best products to achieve this. As the bad guys continue to advance, Malwarebytes will keep evolving.”
One of this year’s EY Entrepreneurs of the Year, Kleczynski developed the earliest versions of the software while working as a technician when he was just 14. Four years later in 2008, the company formally launched with a free tool co-developed alongside two fellow enthusiasts who he met in an online forum.
The danger to consumers and enterprises from advanced malware that bypasses traditional security products continues to grow, as cybercriminals use increasingly sophisticated techniques. Recent research conducted by the Enterprise Strategy Group for Malwarebytes found that 49 percent of enterprises have suffered a successful breach in just the last 24 months.