Cybersecurity startup Halcyon raises $50M to develop its cyber resilience platform

Cybersecurity startup Halcyon raises $50M to develop its cyber resilience platform

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Cybersecurity startup Halcyon Tech Inc. today announced that it has raised $50 million in new funding to accelerate the development of its cyber resilience platform.

SYN Ventures led the Series A round, with Dell Technologies Capital and Corner Ventures also participating. Including the new round, Halycon has raised $70 million to date, according to data from Crunchbase.

Founded in 2020, Halcyon has as its mission to defeat ransomware. The company argues that modern defensive cyber solutions have failed in the face of cheap and easy-to-create ransomware. Self-described as the “world’s first cyber resilience platform,” Halcyon’s solution is designed to defeat ransomware with tools for preventing initial intrusion, disrupting attacks in progress and immediately reversing the effects of ransomware in the event of a successful attack.

Halcyon’s platform takes a multitiered approach to defeat ransomware, including pre-execution ransomware prevention that leverages artificial intelligence and machine learning engines to detect and block any known bad executables such as off-the-shelf commodity ransomware. The platform passes unknown but suspicious executables to the additional protection layers for further analysis. Halycon claims that its solution blocks the majority of off-the-shelf, generic ransomware.

Should ransomware get through the front door, the Halycon platform tricks ransomware into aborting or revealing the attack by exploiting features hardcoded in the ransomware, triggering rulesets via deception techniques to prevent payload detonation.

The platform also offers endpoint and network resiliency with automated host isolation capabilities that prevent ransomware from spreading to other endpoints and delivers automated encryption key capture and decryption of any impacted assets, eliminating the need to pay a ransom and reducing recovery time from days to minutes.

“When setting out to build Halcyon, we started with the premise that all cybersecurity solutions are inevitably bypassed,” co-founder and Chief Executive Jon Miller said in a statement. “We engineered Halcyon to embrace failure as a core concept of protection. Stopping ransomware requires multiple prevention and detection techniques, all trained extensively on years of actual ransomware attacks.”

Image: Halcyon

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