On a Friday evening in October, Shri. He said Greallock venture capitalist Chandna introduced the chief executive of an email security company, Unusual Security, to another investor, he said. That investor, Venky Ganes of Menlo Ventures, who had been in the business of meeting with the chief executive, Evan Riser, for months, immediately emailed Mr. Rizer to invite him to dinner that night.
Mr. Riser drove, he said, to Mr. from San Francisco. Ganesan’s home in Atherton, California, about 30 miles away. By the end of the week, Abnormal had signed a deal to raise 50 50 million, valued at 600 600 million, with a total funding of ંડો 74 million. Menlo’s $ 40 million check was the firm’s largest investment to date.
“As soon as the shotgun gets married, it’s as much as the shotgun gets,” Mr. Said Ganesha.
Since then, ransomware attacks have further fueled the wave of funding.
In January, Les Security, a cloud security start-up in San Jose, California, raised 525 million. Andy Byron, the company’s chief resource officer, said investors have reached out because of Leswork’s products, which use artificial intelligence to identify threats. In total, Leswork has raised 625 million since its inception in 2015.
Mike Spicer, venture capitalist at Sutter Hill Ventures, which was the reason for Leswork’s January financing, said other investors had no problem participating in it, he said.
“I called five people who I think are the best investors and asked if they were interested. Everyone was interested, and within 48 hours we had a deal, “said Mr. Spicer.” One hundred percent of the people I called said they wanted to. We could have raised more than $ 1 billion.
David Hatfield, who joined the start-up in February as chief executive, said, “With all this combination of ransomware and nation-state attacks, people are aggressively turning to the cloud,” said David Hatfield.