• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
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
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
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
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Digital sovereignty isn’t the same thing as digital isolation. Asia’s governments should be careful
Commentarydata sovereignty
Digital sovereignty isn’t the same thing as digital isolation. Asia’s governments should be careful
By Leonard LimJune 10, 2026
3 hours ago
Microsoft co-founder Bill Gates (C) arrives for a closed-door interview with the House Oversight Committee on Capitol Hill in Washington, DC, on June 10, 2026.
LawBill Gates
Gates testifies on Epstein: previous Fortune investigation reveals payments to his ex-girlfriend, $1M Microsoft deal
By Eva Roytburg, Joey Cappelletti, Hannah Schoenbaum and The Associated PressJune 10, 2026
4 hours ago
How the World Cup is a high-stakes stage for Big Tech’s AI push
NewslettersCIO Intelligence
How the World Cup is a high-stakes stage for Big Tech’s AI push
By John KellJune 10, 2026
5 hours ago
Anthropic accused of ‘secret sabotage’ as Claude Fable 5 silently limits capabilities for AI researchers and developers
AIAnthropic
Anthropic accused of ‘secret sabotage’ as Claude Fable 5 silently limits capabilities for AI researchers and developers
By Sharon GoldmanJune 10, 2026
7 hours ago
A 5-week course and a guaranteed job: Meta commits $115 million to solve the skilled-trades shortage stalling its AI build-out
Future of WorkMeta
A 5-week course and a guaranteed job: Meta commits $115 million to solve the skilled-trades shortage stalling its AI build-out
By Jacqueline MunisJune 10, 2026
7 hours ago
Xbox CEO Asha Sharma
SuccessCareers
Xbox’s CEO spent her early career taking out trash and selling coupon books—she says the secret to her rise was never obsessing over a dream career
By Preston ForeJune 10, 2026
9 hours ago

Most Popular

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
Asia
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
By Kate O'Keeffe and BloombergJune 8, 2026
2 days ago
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
Economy
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
By Nick LichtenbergJune 9, 2026
1 day ago
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Success
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
By Preston ForeJune 8, 2026
2 days ago
Current price of oil as of June 9, 2026
Personal Finance
Current price of oil as of June 9, 2026
By Joseph HostetlerJune 9, 2026
1 day ago
Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
Investing
Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
By Eva RoytburgJune 9, 2026
1 day ago
A ‘MAGA Warrior’ Texas ag chief is publicly blasting the USDA over a flesh-eating pest threatening America's beef supply
North America
A ‘MAGA Warrior’ Texas ag chief is publicly blasting the USDA over a flesh-eating pest threatening America's beef supply
By Marco Quiroz-GutierrezJune 10, 2026
15 hours 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.