20.5 million Euro for cyber security company from Bochum

In the Series B round, VMRay was able to raise the equivalent of 20.5 million euros. The Bochum-based company offers anti-malware software.

Munich-based financial investor Digitalplus and Münster-based venture capitalist Ecapital are backing software start-up VMRay. According to the company, the second round of financing, which began in September 2019, will close with 25 million US dollars, the equivalent of just over 20 million euros.

The Bochum-based company plans to use the money to grow further and expand sales and marketing. "The malware epidemic continues to plague businesses, critical infrastructure and government organizations around the world," says founder and CEO Carsten Willems. He co-founded the company with Ralf Hund seven years ago. Previously, they had done research on malware detection. "We believe VMRay is well on its way to becoming the standard for how companies around the world can protect themselves against the growing global malware threat," says investor Willi Mannheims of Ecapital. Founded in 2013, the company's software detects suspicious functionality in files and email attachments without having to check them against an IT security firm's database.