CrowdStrike Helps Fuel Talon Cyber Security’s $100M Round To Push More Secure Browser
The Israeli startup plans to use some of the funds to accelerates its go-to-market efforts, the CEO says.
An early-stage funding slowdown for cybersecurity firms? Not at Talon Cyber Security.
While VC activity has cooled off in general for early-stage cybersecurity startups, the Tel Aviv, Israel-based Talon Cyber Security announced on Wednesday morning that it has raised a hefty $100 million in a Series A funding round led by Evolution Equity Partners, with participation from CrowdStrike’s Falcon Fund, CrowdStrike CEO George Kurtz, Ballistic Ventures, Merlin Ventures, SYN Ventures, Lightspeed Venture Partners, Sorenson Ventures and Team8.
The attraction? Talon Cyber Security’s development of a new secure enterprise browser, called TalonWork, that’s apparently been wowing industry officials, partners and customers alike. Talon Cyber was founded only 16 months ago.
Among the recently wowed include the judges at RSA 2022, who in June voted Talon Cyber Security as the “Most Innovative Startup” competing in this year’s prestigious RSA Sandbox Contest.
Ofer Ben-Noon, co-founder and CEO of Talon, told CRN that some of the recently raised funds will be used to accelerate go-to-market efforts, including hiring marketing and sales personnel.
Though Talon Cyber Security has initially relied on direct sales to generate business, Ben-Noon said the firm has recently started negotiating with potential channel partners and hopes to make an announcement soon about channel connections moving forward.
He also said Talon plans to soon hire channel chiefs for the U.S. and European markets.
In addition to the go-to-market push, Ben-Noon said Talon is planning to use its new funds to hire more engineering talent and further enhance its browser product. He also said he wanted to have enough money to last through potentially tough economic times ahead.
“I want to make sure we have a long runway in this shaky market,” he said.
In recent months, many venture-backed firms, both early- and later-stage firms, have been told by investors to tighten their belts amid signs of a potential economic downturn. Some later-stage startups have even laid off workers in an attempt to preserve their cash.
But investors are gushing over Talon Cyber Security.
“Today’s threat environment is complex, but an organization’s approach to security shouldn’t be,” said CrowdStrike’s Kurtz in a press release. “By delivering enterprise-grade security through the TalonWork browser, Talon makes security simple and effective for its customers.”
“In cybersecurity, the word innovative gets thrown around often, but with Talon, it is a perfect descriptor,” said Richard Seewald, founder and managing partner at Evolution Equity Partners.
“I have never seen a company create and lead a category with such authority, and experience such impressive traction with customers so quickly. Talon has the potential to become one of the leading companies in the broader security industry, and it’s an honor to help them on their journey.”
Ohad Bobrov, a co-founder and CTO of Talon, told CRN that developing an entirely new browser is key to providing more security for customers.
Bobrov said Talon Cyber effectively took Google’s Chrome browser, built mostly via open-source coding, and adapted it to create a new “enterprise browser” that can run on any device, as well as in the cloud or on-premise.
“We have built the team and technology to redefine and power security for the future of work – a future where security is delivered naturally through the enterprise’s most heavily used application: the browser,” said Ben-Noon in a statement.
The latest round includes the conversion of $17 million in SAFE (Simple Agreement for Future Equity) investments announced in January into Series A round shares, bringing Talon’s total amount raised to over $126 million.