Venture capitalCybersecurity specialist Bromium raises $40 million Series C funding
Cupertino, California-based Bromium, Inc. has raised $40 million in an Series C funding round led by new investor Meritech Capital Partners, with participation from existing investors Andreessen Horowitz, Ignition Partners, Highland Capital Partners, and Intel Capital. Bromium offers advanced malware protection and automated forensic intelligence products. Bromium’s vSentry uses Intel CPU and chipset features to hardware-isolate tasks that access the Web, attachments, and files that might contain malware, protecting the desktop by design.
Cupertino, California-based Bromium, Inc. the other day announced it has raised $40 million in an oversubscribed Series C funding round led by new investor Meritech Capital Partners, with participation from existing investors Andreessen Horowitz, Ignition Partners, Highland Capital Partners, and Intel Capital. The new funding will be used for continued product development and to accelerate sales in North America, EMEA, Japan, and APAC.
“Bromium is privileged to be working with a group of investors who are committed to building a company that is transforming cyber-security — without relying on ineffective, legacy detection-centric techniques,” said Gaurav Banga, co-founder and CEO of Bromium. “Demand for our flagship vSentry and LAVA products continues to grow. We have doubled revenue each quarter this year and now plan to accelerate our international expansion and strengthen our development team.”
Rob Ward, managing director at Meritech Capital, led the Meritech investment and will represent his firm on the Bromium board. Ward, who led Meritech’s investments in Fortinet (FTNT), Imperva (IMPV), and Proofpoint (PFPT), commented: “Rapid adoption of cloud computing, mobility and consumerization leave enterprises more vulnerable than ever, at a time when cyber-crime is at an all-time high. Bromium is uniquely positioned to transform enterprise security. Its technology is revolutionary – as profoundly important for security as virtualization was for the data center. It adds durable protection against advanced malware to every end point, and provides unparalleled insights into malware intent. We are very impressed with Bromium’s success in the marketplace, and are thrilled to join the team.”
Commenting on Intel Capital’s investment, Rick Echevarria, VP, PC Client Group & GM, Intel Business Client Platform Division, said: “Intel platforms uniquely offer customers hardware security features that can transform enterprise security. Bromium, as a valuable Intel partner, takes advantage of these features, and their success demonstrates the value of hardware-based security in defeating advanced malware.”
Bromium vSentry uses Intel CPU and chipset features to hardware-isolate tasks that access the Web, attachments, and files that might contain malware, protecting the desktop by design.
