AmEx, HSBC and JPMorgan invest in Menlo Security
12 December 2017 | 6604 views | 0
Financial services giants American Express, HSBC and JPMorgan Chase have all joined a $40 million Series C funding round for "malware isolation" outfit Menlo Security.
With the FS industry facing an ever-growing barrage of cyber attacks, AmEx, HSBC and JPMorgan have decided to back Menlo and its Security Isolation Platform.
Rather than try to distinguish between safe and risky content, the Menlo platform acts like a digital partition, isolating and executing all web content, email links and documents in the cloud, then streaming a malware-free version to employees’ computers.
The firm claims strong take-up around the world from companies in sectors such as finance, healthcare and manufacturing. It plans to use the new funds to boost sales and marketing.
"More than a million users at hundreds of companies are protected by Menlo, with zero infections to date," says Amir Ben Efraim, CEO, Menlo Security.
Harshul Sanghi, managing partner, Amex Ventures, adds: "As cyber threats become more sophisticated, there is a growing need for proactive security solutions that can identify and isolate malicious web content before it enters a business’ systems.
"Menlo’s isolation technology offers a robust solution, and we are excited to support its next phase of growth as the company looks to expand its client base and continue enhancing its capabilities."