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Halcyon Secures Strategic Investment from Cisco to Battle Ransomware
Slice of Technology Team
August 09, 2024
Key Highlights:
Halcyon receives strategic investment from Cisco Investments.
Funding will accelerate development and adoption of Halcyon’s anti-ransomware platform.
Halcyon has raised over $90M to date.
66% of organizations have been hit multiple times by ransomware in the last 24 months.
Halcyon’s AI-driven approach offers robust ransomware defense and recovery.
Source (Business Wire)
Notable Quotes:
“The support from Cisco Investments reinforces our position as the crucial piece of the puzzle in the battle against cybercrime. Concerns about ransomware are at the forefront for boards and executives everywhere and Halcyon’s approach is the most impactful method of disrupting ransomware and protecting organizations.”
“Ransomware has been a perpetual Cybersecurity pain-point for enterprises across the world. Halcyon's deployment of bespoke artificial intelligence models to proactively identify ransomware strains, as well as instantaneous recovery of hijacked data, represents a robust AI enabled response to an endemic problem. We are proud to have Halcyon become a part of our $1B global AI-investment fund, announced earlier this year.”
Our Take:
The strategic investment from Cisco Investments marks a significant milestone for Halcyon, underscoring the urgent need for advanced anti-ransomware solutions in today’s cybersecurity landscape. With ransomware attacks becoming increasingly sophisticated and frequent, Halcyon’s AI-powered platform offers a critical defense mechanism, enabling organizations to not only withstand attacks but also recover swiftly without succumbing to ransom demands. This investment will likely catalyze further innovation and broader adoption of Halcyon’s cutting-edge technology, positioning it as an essential tool for enterprises worldwide in their fight against cybercrime.
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