VMRay Closes $25 Million Series B

PRESS RELEASE

BOCHUM, Germany, Dec. 10, 2020 (GLOBE NEWSWIRE) -- VMRay, a provider of automated threat analysis and detection solutions, today announced that it has closed the second round of its Series B round of funding in the amount of US $15 million led by Digital+ Partners, one of the leading technology growth equity firms in Europe, and supplemented by eCAPITAL, a deep-tech venture capital firm with a focus on cybersecurity. The new round of funding represents the second closing of VMRay’s initial Series B round announced in September 2019, bringing the total amount raised to US $25 million. The company will use the new funding to further expand its sales and marketing operations worldwide, enhance its solution’s capabilities and integration with third-party cybersecurity systems and platforms, and expand its global channel program to new markets and geographies. Today’s announcement caps off a year of strong growth and continued momentum for VMRay which has, for the first time, established its presence in APAC and MEA.

“The malware epidemic continues to plague enterprise organizations, critical industries, and national economies around the world, fueling the need for innovative technologies that can help security teams detect and respond to the next wave of unknown threats with greater clarity and precision,” said Carsten Willems, co-founder and CEO for VMRay. “We are quite fortunate to have found a strategic investor in Digital⁺ Partners who not only shares our long-term vision but has also provided our team with the steady guidance and support that has been crucial in helping us successfully scale our business for this important and exciting next stage of growth.”

VMRay was founded by Dr. Carsten Willems and Dr. Ralf Hund in 2013, two early pioneers in automated malware analysis and detection, as a vehicle to transform their groundbreaking academic research into practical solutions for enterprise security teams. VMRay’s evasion-resistant suite of solutions represent a radical departure from traditional malware sandbox analysis methods. By combining hypervisor-based dynamic analysis with static and real-time reputation engines, VMRay empowers security teams to accelerate the detection of dangerous and evasive threats while remaining invisible to malware.

“Despite the many uncertainties of the current economic situation, we remain confident that the demand for truly innovative, mission critical cybersecurity solutions such as those developed by VMRay will continue to flourish in this high-growth market,” said Thomas Jetter, managing director and founding partner at Digital⁺ Partners. “We are especially bullish on VMRay’s long-term potential because their leadership team possesses a unique combination of technical acumen and operational discipline that is rare among companies of their age and will position them well for future success.”

“As early believers in VMRay since our participation in the Series A funding, we’ve seen first-hand the rapid shift of market momentum towards threat analysis and detection and the capabilities of VMRay’s experienced management team in driving growth,” said Willi Mannheims, Managing Director at eCAPITAL and VMRay Board Member. “We believe that VMRay is poised to become the de-facto standard in how enterprises around the globe protect themselves against the growing global malware threat. We’re delighted to be partnering with a syndicate of top investors to continue fueling the company’s success.”

About VMRay

VMRay is on a mission to become the best world-class cyber defender that empowers organizations to protect themselves against advanced and targeted threats by providing cutting edge technology that can detect the most sophisticated targeted attacks that all others miss. The company’s automated malware analysis and detection solutions help enterprises around the world minimize business risk, protect their valuable data and safeguard their brand. VMRay’s founders, Dr. Carsten Willems and Dr. Ralf Hund, were early pioneers in malware sandboxing, developing breakthrough technologies that continue to lead the industry. They founded VMRay to transform their research into practical solutions for making the online world a safer place. Learn more at www.vmray.com

About Digital⁺ Partners

Digital⁺ Partners is a leading technology growth equity investor focused on European B2B technology companies with €350 million assets under management. Digital⁺ aims to support ambitious entrepreneurs build global technology companies, providing them with strategic advice and long-term financial support to help them define and execute their growth plans. The fund focuses exclusively on B2B technology companies, with cybersecurity being a key vertical, and leverages a deep corporate network to help portfolio companies access new markets and build new partnerships. For more information please visit: http://www.dplus.partners

About eCAPITAL

eCAPITAL is a venture capital firm that provides early to growth stage funding to technology companies in the fields of software & information technology, cybersecurity, industry 4.0, new materials and cleantech. Founded in 1999, eCAPITAL has a history of supporting entrepreneurs determined to build companies with lasting significance. Partnering with eCAPITAL means joining an international network of business leaders, entrepreneurs, technologists and potential partners. eCAPITAL is located in Germany, currently manages funds with over EUR 220 million under management and was lead investor of some very successful German exits like sonnen or Novaled. Learn more at: https://ecapital.vc/