Bochum, 19 December 2022 – VMRay, a globally successful provider of solutions for detecting and analysing advanced malware and phishing threats, announces the extension of its Series B funding round. The expansion round was led by global alternative asset alternative asset manager Tikehau Capital through its subsidiary Tikehau Ace Capital and its European Cybersecurity Growth Fund. Also participating in the new round were NRW.Bank and Gründerfonds Ruhr as well as former investors eCAPITAL and High-Tech Gründerfonds. VMRay intends to use the new financing to expand its existing product portfolio and to address further market segments.
VMRay was founded to address one of the major weaknesses in cyber security: unknown, first-time and sophisticated malware and phishing threats and targeted attacks.
The company started its success story with the market launch of a unique hypervisor-based malware sandboxing technology, which has been continuously supplemented and further developed with innovative analysis and detection methods, including a proprietary machine learning approach. The solutions are aimed at companies and organisations in the private and public sectors, as well as MDR (Managed Detection & Response) providers, with the aim of supporting the work of cybersecurity and SOC teams and making it more efficient. VMRay delivers precise analysis verdicts, detailed, noise-free reporting on malware behaviour and can be seamlessly integrated with leading EDR, XDR, SOAR and threat intelligence solutions. VMRay customers include four of the world’s top five technology companies, 37 leading financial institutions and 56 government organisations around the world.
“The cyber threat landscape is undergoing profound change, and with the increasing number and complexity of new threats, our customers are facing new challenges,” said Dr Carsten Willems, co-founder and CEO of VMRay. “This latest round of investment was a strategic collaboration that will enable VMRay to expand its product offering for use in a broader range of market segments and use cases, including threat intelligence, security automation and MSSPs.”
“In our role as cybersecurity experts, we were impressed by VMRay’s unique value proposition: developing more effective detection tools that integrate with larger cybersecurity solutions. VMRay’s ability to position itself as a cybersecurity spearhead in addition to providing automation services in malware detection is a clear differentiator,” said Augustin Blanchard, Executive Director at Tikehau Capital. “We firmly believe that the company will achieve scalable and explosive growth in the coming years, scalable, explosive growth in the coming years, fueled by a skilled management team and strong market tailwinds.”
“VMRay has managed to uniquely position itself in the market by complementing existing security solutions with the additional layer of security needed to combat advanced and unknown threats,” says Dr Ulrich Schmitt from High-Tech Gründerfonds. “The company has laid a strong foundation for further international growth and is well on its way to becoming the global market leader in advanced threat detection.”
Willi Mannheims, Managing Partner at eCAPITAL, added: “We are delighted to be working with a consortium of top investors to drive VMRay’s success and support the company’s experienced management team to continue to fuel growth.”