Security Market Segment LS
Monday, 14 October 2019 11:43

Menlo Security launches in Australia with $110 million funding round Featured

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APAC VP Stephanie Boo heads up Menlo's Australian business APAC VP Stephanie Boo heads up Menlo's Australian business

Global enterprise cloud security provider Menlo Security is launching into the Australian market following a $110 million (US$75 million) Series D funding round.

The successful funding round was led by clients advised by JP Morgan Asset Management, with existing investors also participating in the round, including General Catalyst, Sutter Hill Ventures, Osage University Partners, American Express Ventures, HSBC, JP Morgan Chase and Engineering Capital.

Operating out of Melbourne and Sydney, Menlo Security says it will initially focus on the banking and finance industry - signing one major bank ahead of launch - as well as defence, government and industry.

Menlo Security’s Australian operation will be led by APAC VP Stephanie Boo and Australia New Zealand regional sales director Keith Symons, and the company will partner with Westcon in Australia to develop its cyber security channel partnerships in the local market.

“The Australian financial industry has already been put on notice by the regulator that they need to improve their cyber security practices and we are launching into this market to help protect against threats and attacks that bypass many advanced security products,” Menlo Chief Revenue Officer Scott Fuselier said.

Fuselier said Australia was a key target for the company’s global expansion, with Australian organisations leading the world in adopting a cloud strategy making it essential to develop parallel security transformations.

“With web and email representing 99% of corporate cyber security risks, our approach changes the security paradigm to a framework that can guarantee 100% effectiveness,” Fuselier said.

“Our cloud security platform already isolates more than 500 million web pages per day is used by millions of users around the world.”

Fuselier said Menlo Security’s Internet Isolation enables a Zero-Trust Internet and takes the guesswork out of security by assuming all internet content and websites are malicious.

“Traditional security solutions focus on detection and response which is known to fail, and why our approach is to move security into the cloud, disconnecting and isolating your company from the internet, while still providing 100% safe access,” he said.

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