Malwarebytes Inc., a major provider of cybersecurity software for the consumer and enterprise markets, has landed a staggering $100 million investment from Vector Capital.
The funding will be utilised for new product offerings and the expand the market to cater small and midsized businesses and midmarket companies with up to 1,000 employees.
San Francisco-based Malwarebytes develops a popular antivirus of the same name that consumers can install on personal computers, Chromebooks and mobile devices. The company’s antivirus is capable of detecting and blocking several types of malware, including ransomware.
The investment is expected to close by year’s end pending customary closing conditions.
Malwarebytes co-founder and Chief Executive Officer Marcin Kleczynski said, “Vector Capital shares our mission to protect those most vulnerable to cyberattacks through cutting-edge technologies and the power of community. We believe Vector Capital’s collaborative approach and proven ability to help build global software businesses make them ideal partners in our ongoing efforts to build a safer digital world.”
As per various media sources, more than 3.5 million consumers reportedly use the paid editions of Malwarebytes’ software.
Malwarebytes also plans to enhance its international channel partner program as well as expand its work with managed service providers.
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