The Israeli startup plans to use some of the funds to accelerate its go-to-market efforts, the CEO said.
The decline in early-stage funding for cybersecurity companies? In Talon Cyber Security it is not.
While VC activity has generally cooled off for early-stage cybersecurity startups, Tel Aviv, Israel-based Talon Cyber Security announced Wednesday morning that it has raised raised $100 million in a Series A funding round led by Evolution Equity Partners, with participation from CrowdStrike’s Falcon Fund, CrowdStrike CEO George Kurtz, Ballistic Ventures, Merlin Ventures, SYN Ventures, Lightspeed Venture Partners, Sorenson Ventures and Team8.
The attraction? Talon Cyber Security’s development of a new secure enterprise browser, called TalonWork, has clearly stunned industry officials, partners and customers. Talon Cyber was just founded 16 months ago.
Among the recent laureates include judges at RSA 2022, who in June voted Talon Cyber Security the “Most Innovative Startup” competing in the prestigious RSA Sandbox Competition this year.
Ofer Ben-Noon, Talon’s co-founder and CEO, told CRN that some of the recent fundraising will be used to accelerate go-to-market efforts, including hiring marketing staff. marketing and sales.
While Talon Cyber Security initially relied on direct sales to generate its business, Ben-Noon said the company has recently begun negotiations with potential channel partners and hopes to bring it up soon. Announces future channel connections.
He also said Talon plans to hire channel directors for the US and European markets soon.
In addition to driving the market, Ben-Noon said Talon is planning to use its new funds to hire more technical talent and further enhance its browser product. He also said he wants to have enough money to get through the tough economic times to come.
“I want to make sure we have a long runway in this volatile market,” he said.
In recent months, many venture-backed companies, both early-stage and late-stage companies, have been asked to tighten their belts by investors amid signs of an economic slowdown. . Some later-stage startups have even laid off workers to try to preserve their cash.
But investors are flocking to Talon Cyber Security.
“Today’s threat environment is complex, but an organization’s approach to security shouldn’t be,” CrowdStrike’s Kurtz said in a press release. “By providing enterprise-grade security through the TalonWork browser, Talon makes security simple and effective for its customers.”
Richard Seewald, founder and managing partner at Evolution Equity Partners, said: “In cybersecurity, the word innovation is often thrown out, but for Talon, it is a perfect description.
“I have never seen a company create and lead such an authoritative category and experience such impressive customer acquisition so quickly. Talon has the potential to be one of the leaders in the broader security industry, and it’s an honor to help them on their journey. “
Ohad Bobrov, Co-Founder and CTO of Talon, told CRN that developing an entirely new browser is key to providing more security to customers.
Bobrov said Talon Cyber effectively took Google’s Chrome browser, built primarily through open source code, and tweaked it to create a new “enterprise browser” that could run on any device. device, as well as in the cloud or on-premises.
“We’ve built the team and technology to redefine and power the security of the future of work – a future where security is delivered natively through the app,” said Ben-Noon. enterprise’s most used: the browser,” Ben-Noon said in a statement.
The latest round includes the conversion of $17 million in SAFE (Simple Share Futures) investments announced in January into Series A shares, bringing Talon’s total raised by more than 126 million dollars.