Redwood City, Calif.-based advanced malware defense platform provider Lastline has raised $28.5 million in Series C funding as the demand for next-generation cybersecurity skyrockets around the world.
Lastline’s latest funding round was led by venture capital firm Thomvest Ventures, with participation from other backers including Osage University Partners, Redpoint Ventures, Barracuda Networks Inc., NTT Finance Corporation and WatchGuard Technologies Inc.
The six-year-old company, with offices in North America, Europe and Asia Pacific, was founded by world-renowned security researchers and creators of widely-used malware analysis tools Anubis and Wepawet. The firm provides a malware protection platform which detects and stops advanced persistent threats, zero-day exploits and evasive malware. Lastline says it has secured 100% annual growth since its flagship product, Lastline Enterprise, was first introduced in 2013.
The new capital will be used to accelerate the cybersecurity player’s next phase of growth, “driven by an aggressive go-to-market strategy that focuses on sales and marketing expansion and bolstering its development organization to deliver on its vision of breach detection.”
Alongside the new funding, Lastline will add Thomvest Ventures partner Umesh Padval and AlienVault President and Chief Executive Barmak Meftah to its board of directors.
“We are excited about our investment in Lastline,” said Padval. “Legacy malware detection solutions are both ineffective at stopping today’s sophisticated threats and are too expensive to deploy and maintain. Lastline is well positioned for success in the market with its superior technology that provides unparalleled visibility and detection of the most advanced and evasive malware at a very compelling cost and an ease of deployment for the customers.”