Halcyon wins $40M investment round

Anti-ransomware startup Halcyon has pulled in $40 million from a Series B funding round, bringing total investment to $84 million, with the newly secured funds to be allocated toward accelerating organization-wide growth, including expanding its workforce by twofold by the end of next year, as well as strengthening its services and sales and marketing initiatives, reports TechCrunch. Artificial intelligence models are being leveraged by Halcyon to not only avert ransomware attacks but also facilitate device decryption, according to Halcyon co-founder and CEO Jon Miller, who touted the platform's ability to ensure continued operations at organizations impacted by ransomware. "Typically, detection and prevention logic updates are manual and performed monthly or even quarterly... Halcyon delivers an autonomous solution that continuously corrects itself against a false negative result in a matter of minutes," said Miller, who also noted that the platform's prioritization of combating ransomware offers an edge when compared with other solutions.