VMRay raises 34 million euros

The cyber security company has thus completed its Series B financing round. The start-up specializes in the detection and analysis of malware.

The cyber security start-up VMRay has closed its Series B financing round with 34 million euros. The round was led by Tikehau Capital, which is investing in the German company through its subsidiary Tikehau Ace Capital and the European Cybersecurity Growth Fund. NRW Bank and Gründerfonds Ruhr also invested in VMRay for the first time. The existing investors High-Tech Gründerfonds and ecapital invested again.

The start-up intends to use the money to expand into other target markets with new products. VMRay offers software to protect against malware attacks that can adapt to different attack strategies using machine learning. Investor Ulrich Schmitt from High-Tech Gründerfonds calls the solution an "additional level of security that is needed to combat advanced and unexpected threats."

Carsten Willems and Ralf Hund founded VMRay in 2013, having already made a name for themselves in the cyber security scene. According to their own statements, their company's software is now used by four of the five largest tech companies and 37 "leading" financial companies, among others.