Malwarebytes receives $50M funding

Malwarebytes announced on Thursday that it received a $50 million Series B funding round from Fidelity Management and Research Co.

The Silicon Valley startup, which offers a malware prevention and remediation solution, earned $100 million in annualized billings in 2015, tripling its sales growth.

“It's an honor to be backed by Fidelity," Marcin Kleczynski, CEO of Malwarebytes, told SCMagazine.com on Wednesday.

Kleczynski, named to the 2015 Forbes 30 Under 30 Rising Stars of Enterprise Technology list, added that traditional signature-based anti-virus solutions are no longer sufficient against today's continual onslaught of threats. The solution, he said, is more heuristics and behavior analysis. "It's always a cat-and-mouse game, so we're trying to be as proactive as possible," he said.

The cash infusion, he said, will go to hire "more talented engineers to help us fight malware" and further grow the company's' sales, marketing and future product initiatives in its fast-growing enterprise business.

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