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article imageCybersecurity company raises $120 million in latest funding round

By Lisa Cumming     Jun 20, 2018 in Business
Cylance, a provider of cybersecurity-related products and services that markets themselves as being able to prevent attacks years before the attack is even launched, raised $120 million in their Series E funding round.
Cylance was the first company to apply AI to the field of cybersecurity, this funding round announced yesterday brings their total funding amount to $297 million.
The round was led by Blackstone Tactical Opportunities, according to VentureBeat.
The Irvine-based firm told the OC Register that they're "creating a digital immune system that’s impenetrable." With the profits from this most recent funding round, Cylance plans on continuing "global expansion" and building more cybersecurity solutions.
A newly-updated product CylanceOPTICS v2.3, released today, uses mathematical models to detect suspicious behaviour and detect potential threats and attacks.
Cylance released their yearly "Threat Report" at the end of May, and in it they outlined the the food and hospitality industries had suffered the highest volume of cyber attacks, and ransomware attacks grew threefold and impacted the healthcare industry the most.
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