Record setting sales performance, Series C funding, and high-impact strategic partnerships
reinforce company’s leadership position in advanced malware protection
REDWOOD CITY, CA – Lastline, Inc., the leader in advanced network-based malware protection, announced today explosive growth and market momentum throughout the first half of the year. In Q2 alone, the company saw its highest ever quarterly sales performance, signed partnerships with IBM and Forcepoint, completed a $28.5M Series C round of fundraising, and announced Lastline Breach Defender™, which provides unparalleled insight into network breaches. The company’s 50 percent year-over-year employee headcount growth further underlines the expansion across business activities as it positions itself for sustained and rapid growth. The company’s record financial results are attributed to success across a range of go-to-market channels including OEM and MSSP relationships, and direct enterprise sales fueled by a growing market awareness and demand for the unique capabilities and benefits that the company’s technology offers.
“Our achievements throughout the first half of the year reflect the market’s increasing understanding of how Lastline uniquely can demonstrate success in detecting network breaches where other technologies have failed,” commented Lastline CEO and co-founder, Dr. Chris Kruegel. “Cybercriminals continue to improve their ability to bypass existing security technologies with sophisticated malware-based attacks. We know malware better than anyone, and our solutions bring that expertise to bear to prevent costly and damaging data breaches.”
In the first half of 2017, Lastline:
- Achieved Record Setting Sales
In Q2 2017, Lastline achieved the highest quarterly sales in company’s history, fueled by increased adoption in banking and financial services, business services, and other global sectors.
- Raised $28.5M in Series C Funding to Fuel Explosive Growth
The VC community demonstrated its confidence in Lastline’s growth potential by providing the company with $28.5M in Series C funding. The financing will be used to accelerate the company’s aggressive go-to-market strategy that focuses on sales and marketing expansion, and bolstering its development organization to deliver on its vision of breach protection.
- Inked IBM and Forcepoint Partnership Deals that Reinforce Company’s Market Leadership
Lastline continued to expand its already impressive list of technology integration partners, each of which concluded that Lastline is the best available solution after extensive vetting. In the first half of the year, the company signed partnership agreements with IBM, Forcepoint, Avanan, and several others. New channel partners include Infinigate in the UK, signaling the company’s goal of expanding availability in Europe.
- Network Breaches
The company announced a major product upgrade in February, and then in July, just after H1 concluded, released its newest product, Lastline Breach Defender, continuing the company’s tradition of innovation and delivering breakthrough breach protection. The new product is the industry’s only solution that provides a dynamic blueprint of a breach as it unfolds and moves laterally across a network.
- Received Prestigious Industry Recognition and Awards Including Red Herring 100 North America
Since January 2017, the company received two gold IT World Awards, was recognized with awards in each of the five categories in which it was nominated in the Info Security Products Guide Global Excellence Awards®, was recognized as an SC Awards finalist and a semi-finalist for Ernst & Young’s Entrepreneur of the Year, and was chosen as 2017 Red Herring 100 that recognizes North America’s most exciting and innovative private technology companies.
- Hired Aggressively to Fuel Expansion
The company initiated a high-growth hiring campaign in the first half of the year that continues into H2 as the company expands global operations to meet growing market demand. Headcount at the end of Q2 2017 reflects 50 percent growth over a year prior.
Lastline is widely acknowledged as providing the industry’s most effective advanced malware and breach protection solutions. NSS Labs’ 2016 Breach Detection Systems Test recognized Lastline as the only breach detection offering they have ever tested to achieve 100-percent detection effectiveness with zero false positives. And The Forrester Wave™: Automated Malware Analysis Q2 Report identifies Lastline as the strongest current offering on the market.
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