Company seeks acceleration of global expansion plans
Today, Malwarebytes announced that it received $30 million / €22 million from Highland Capital Partners as part of a Series A round of funding.The company, which was founded in 2008, addresses both consumer and enterprise computer security needs with Anti-Malware and Endpoint Security solutions.
Recently, the developer launched a new product called Anti-Exploit, available both as a free version and as a paid version, which comes with a larger number of features.
Until now, the company did not rely on investment from venture capital firms to build the current technology in its products and expand on the market. However, the funding will help Malwarebytes develop even more and contribute to gaining a strong foothold in other areas around the globe.
The investment is quite large for a Series A funding, which, according to a 2013 AlleyWatch report, averages to about $5.5 million / €4 million, but it can normally go as up as $15 million / €11 million.
Malwarebytes funding is more than twice the average Series B funding recorded in 2013 and just shy of the average for a Series C funding in the same year.
On the other hand, the mature technology owned by the company, along with a very solid customer base, offers a pretty good explanation of the higher than normal amount invested by the venture capital firm.
“With over 60 million quarterly active users, Malwarebytes already has significant market penetration,” said 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,” he added in a news release.
Malwarebytes CEO Marcin Kleczynski has said that he plans to use this round of financing to increase global expansion of the company’s products and to continue developing innovative technology for fighting off malware for both consumers and businesses.
“It has been our goal from the very beginning to develop technology to fight cutting-edge malware, and we plan to develop the best products to achieve this. As the bad guys continue to advance, Malwarebytes will keep evolving,” he said.
As traditional protection methods become obsolete because cybercriminals find new ways to evade detection of their malicious software, new, reliable solutions have to be introduced on the market.
Kleczynski founded Malwarebytes when he was still in high school. By developing a product that detected malicious software missed by other antivirus solutions, he managed to capture the attention of the industry and establish a business and a brand respected worldwide.