Menlo Security is launching into the Australian market following a $110 million (US$75 million) Series D round led by clients advised by JP Morgan Asset Management.
Existing investors also participated in the round, including General Catalyst, Sutter Hill Ventures, Osage University Partners, American Express Ventures, HSBC, JP Morgan Chase and Engineering Capital. Operating out of Melbourne and Sydney, Menlo Security will initially focus on the banking and finance industry, signing one major bank ahead of launch, as well as defence, government and industry. “The Australian financial industry has already been put on notice by the regulator that they need to improve their cyber security practices and we are launching into this market to help protect against threats and attacks that bypass many advanced security products,” Chief Revenue Office Scott Fuselier said.
The company is revolutionising cloud-based cyber security through its Zero-Trust Internet approach which promises 100% protection. This keeps all email and web content off of end-users devices and in the cloud, reducing threats, including phishing attacks, through containing the company’s cybersecurity efforts.
Mr Fuselier said Australia was a key target for the company’s global expansion, with Australian organisations leading the world in adopting a cloud strategy making it essential to develop parallel security transformations.
“With web and email representing 99 per cent of corporate cyber security risks, our approach changes the security paradigm to a framework that can guarantee 100% effectiveness,” said Mr Fuselier. “Our cloud security platform already isolates more than 500 million web pages per day is used by millions of users around the world.”
Menlo Security’s Internet Isolation enables a Zero-Trust Internet and takes the guesswork out of security by assuming all internet content and websites are malicious. Traditional security solutions focus on detection and response which is known to fail, and why our approach is to move security into the cloud, disconnecting and isolating your company from the internet, while still providing 100% safe access. Gartner has positioned Menlo as a ‘Visionary’ in the secure web gateway magic quadrant of 2018, endorsing and advising organisations to evaluate a remote browser solution as one of the most significant ways an enterprise can reduce the ability of web-based attacks on users to cause damage. Menlo Security will be led by APAC VP Stephanie Boo and Australia New Zealand Regional Sales Director Keith Symons.
Menlo Security will partner with Westcon in Australia to develop its cyber security channel partnerships in the local market.
