• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
TechChanging Face of Security

This Mystery Investor Helped Push Cylance Into the ‘Unicorn’ Club

Robert Hackett
By
Robert Hackett
Robert Hackett
Down Arrow Button Icon
Robert Hackett
By
Robert Hackett
Robert Hackett
Down Arrow Button Icon
June 30, 2016, 8:28 AM ET
YouTube @ VidCon - Day 1
ANAHEIM, CA - JUNE 23: YouTuber Lilly Singh poses with a unicorn during VidCon at the Anaheim Convention Center on June 23, 2016 in Anaheim, California. (Photo by FilmMagic/FilmMagic for YouTube)FilmMagic for YouTube/Getty Images

Cylance, an anti-virus software startup, garnered $100 million in a Series D round of fundraising earlier this month, catapulting the company into the exalted “unicorn” club of startups valued at $1 billion or more. The company claims to use artificial intelligence and machine learning to block computer-based attacks that target businesses.

On Thursday, the cybersecurity firm told Fortune that it plans to share the identity of a previously unnamed investor that participated in the fundraising round: Citi Ventures, the venture capital arm of Citigroup (C). That deal closed a few days after but as part of the initial fundraise in early June.

The bank joins Blackstone’s Tactical Operations fund and Insight Venture Partners, which led the fundraising round that boosted the company’s private valuation more than threefold in a year. Existing investors Khosla Ventures, DFJ Growth, and KKR also participated in the round.

Get Data Sheet, Fortune’s technology newsletter.

“We took a look at fintech companies that go beyond fintech,” said Arvind Purushotham, managing director and co-head of venture capital at Citi Ventures. “Anti-virus is one of largest pieces of the security market and also one of oldest parts, so Cylance is playing in a large area with an opportunity to build a multibillion company in a large market.”

Citi also invests in other cybersecurity companies, including the voice security startup Pindrop Security, endpoint security startup Tanium, and network security firm vArmour. (For more, read this feature on Citi embracing the fintech revolution in the latest issue of Fortune.)

“We felt comfortable the technology was enterprise ready,” he added, “and got excited about the idea of building AI-based anti-virus.”

On a call with Fortune, Cylance CEO Stuart McClure said that the company is cash flow positive, though he plans to “ramp up a little” with the new funding. He said the company has more than 1,000 customers, including 50 of the Fortune 500, as well as 425 employees—with plans to reach 800 in the next year.

With the additional funds, McClure said he intends to boost the company’s sales and marketing domestically and globally, mentioning regions such as Latin America, the Nordic states, Europe and the Middle East, Australia, Japan, and Singapore. He also mentioned the possibility of “opportunistic M&A along the way.”

McClure said he had not felt the pangs of pain that other cybersecurity firms have recently reported in attempting to raise money in the private markets. “I hate to almost speak out loud because I feel like I’ll almost jinx myself, but this fundraising was the easiest fundraising round I’ve ever done,” he said.

For more on cybersecurity funding, watch:

The company competes with traditional anti-virus software firms, including Symantec (SYMC) and his former employer Intel (INTC) Security (née McAfee), where he once served as chief technology officer.

Asked about his opinion on recent vulnerabilities discovered in Symantec’s anti-virus software, McClure . “I never dance on anybody’s grave,” he said. “Quite truthfully, it could happen to anybody.”

Next year, the company plans to release a consumer version of its anti-virus software product, McClure said.

About the Author
Robert Hackett
By Robert Hackett
Instagram iconLinkedIn iconTwitter icon
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
Fortune Secondary Logo
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

PoliticsColleges and Universities
Pentagon chief blocks officers from Ivy League schools and other top universities, including partners on AI and space
By Jason MaFebruary 28, 2026
26 minutes ago
AIAnthropic
Anthropic CEO Dario Amodei says ‘we are patriotic Americans’ committed to defending the U.S. but won’t budge on ‘red lines’
By Jason MaFebruary 28, 2026
5 hours ago
sarandos
InvestingMedia
3 things we will never know after Netflix pulled out of the Warner Bros. bidding, handing it to Paramount
By Nick LichtenbergFebruary 28, 2026
8 hours ago
OpenAI CEO Sam Altman
AIAnthropic
OpenAI sweeps in to ink deal with Pentagon as Anthropic is designated a ‘supply chain risk’—an unprecedented action likely to crimp its growth
By Jeremy KahnFebruary 28, 2026
8 hours ago
Big TechAmerican Politics
Your spend as a ‘weapon’: Scott Galloway’s ‘Resist and Unsubscribe’ movement asks you to ditch Amazon, Apple, and Netflix to oppose Trump
By Kristin StollerFebruary 28, 2026
12 hours ago
world's fair
CommentaryRobots
Something big is happening in AI, but panic is the wrong reaction
By Peter CappelliFebruary 28, 2026
13 hours ago

Most Popular

placeholder alt text
Success
Japanese companies are paying older workers to sit by a window and do nothing—while Western CEOs demand super-AI productivity just to keep your job
By Orianna Rosa RoyleFebruary 27, 2026
1 day ago
placeholder alt text
Success
Walmart exec says U.S. workforces needs to take inspiration from China where ‘5 year-olds are learning DeepSeek’
By Preston ForeFebruary 27, 2026
2 days ago
placeholder alt text
Middle East
Iran is now on 'death ground' amid existential threat from U.S. attacks and could 'go big' in retaliation, former NATO commander warns
By Jason MaFebruary 28, 2026
7 hours ago
placeholder alt text
AI
The week the AI scare turned real and America realized maybe it isn't ready for what's coming
By Nick LichtenbergFebruary 28, 2026
14 hours ago
placeholder alt text
Personal Finance
Current price of gold as of February 27, 2026
By Danny BakstFebruary 27, 2026
1 day ago
placeholder alt text
Law
China's government intervenes to show Michigan scientists were carrying worms, not biological materials
By Ed White and The Associated PressFebruary 26, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.