VMRay Closes $25 Million Series B
Digital+ Partners Leads Continuation Funding Round in Growing Automated Threat Analysis & Detection Provider, Closing its Series B Round at US $25 Million
Bochum – VMRay, a provider of automated threat analysis and detection solutions, today announced that it has closed the second round of its Series B round of funding in the amount of US $15 million led by Digital+ Partners, one of the leading technology growth equity firms in Europe, and supplemented by eCAPITAL, a deep-tech venture capital firm with a focus on cyber security. The new round of funding represents the second closing of VMRay’s initial Series B round announced in September 2019, bringing the total amount raised to US $25 million. The company will use the new funding to further expand its sales and marketing operations worldwide, enhance its solution’s capabilities and integration with third-party cybersecurity systems and platforms, and expand its global channel program to new markets and geographies. Today’s announcement caps off a year of strong growth and continued momentum for VMRay which has, for the first time, established its presence in APAC and MEA.
“The malware epidemic continues to plague enterprise organizations, critical industries, and national economies around the world, fueling the need for innovative technologies that can help security teams detect and respond to the next wave of unknown threats with greater clarity and precision,” said Carsten Willems, co-founder and CEO for VMRay. “We are quite fortunate to have found a strategic investor in Digital+ Partners who not only shares our long-term vision but has also provided our team with the steady guidance and support that has been crucial in helping us successfully scale our business for this important and exciting next stage of growth.”
VMRay was founded by Dr. Carsten Willems and Dr. Ralf Hund in 2013, two early pioneers in automated malware analysis and detection, as a vehicle to transform their groundbreaking academic research into practical solutions for enterprise security teams. VMRay’s evasion-resistant suite of solutions represents a radical departure from traditional malware sandbox analysis methods. By combining hypervisor-based dynamic analysis with static and real-time reputation engines, VMRay empowers security teams to accelerate the detection of dangerous and evasive threats while remaining invisible to malware.
“Despite the many uncertainties of the current economic situation, we remain confident that the demand for truly innovative, mission-critical cybersecurity solutions such as those developed by VMRay will continue to flourish in this high-growth market,” said Thomas Jetter, managing director, and founding partner at Digital+ Partners. “We are especially bullish on VMRay’s long-term potential because their leadership team possesses a unique combination of technical acumen and operational discipline that is rare among companies of their age and will position them well for future success.”
“As early believers in VMRay since our participation in the Series A funding, we’ve seen first-hand the rapid shift of market momentum towards threat analysis and detection and the capabilities of VMRay’s experienced management team in driving growth,” said Willi Mannheims, Managing Director at eCAPITAL and VMRay Board Member. “We believe that VMRay is poised to become the de-facto standard in how enterprises around the globe protect themselves against the growing global malware threat. We’re delighted to be partnering with a syndicate of top investors to continue fueling the company’s success.”