Building on UC Berkeley research, cybersecurity software company Menlo Security has now raised approximately $150m altogether.

Menlo Security, a US-based cybersecurity software developer commercialising research from University of California (UC), Berkeley, yesterday raised $75m of series D funding from backers including spinout-focused investment firm Osage University Partners (OUP).
The series D round was led by unnamed clients advised by JP Morgan Asset Management, a division of financial services group JP Morgan Chase.
Financial services firm HSBC and American Express Ventures, the corporate venturing arm of processing firm American Express, also took part, alongside venture firms Engineering Capital, General Catalyst, Sutter Hill Ventures and unnamed, existing investors.
Founded in 2013, Menlo Security offers a cybersecurity software product that isolates all incoming web and e-mail traffic in the cloud, before streaming a malware-screened version to the user’s devices.
The product aims to improve on existing cybersecurity platforms which rely on classifying incoming data as either malicious or safe. It is marketed to enterprises and government agencies, in verticals including financial services, healthcare and entertainment.
The fresh capital will support the growth of Menlo’s sales team, to meet industry demand for its services. Jonathan Ross, portfolio and managing director of JP Morgan Asset Management, will join the board of directors.
Menlo Security’s platform grew out of a UC Berkeley cybersecurity spinout, Safely, which now appears to be defunct.
Safely’s concept extended the work of Dawn Song, professor in the Department of Electrical Engineering and Computer Sciences, and Gautam Altekar, a former graduate student who is now Menlo’s chief architect.
Menlo Security emerged from stealth in 2015 with $25m of series B capital led by Sutter Hill. The round included OUP, General Catalyst and Engineering Capital. It had already received $10.5m in series A funding in 2014 from undisclosed investors.
American Express Ventures, JP Morgan Chase and HSBC later joined Ericsson Ventures, the corporate venturing arm of telecoms equipment supplier Ericsson, for Menlo’s $40m series C close in 2017, with support from OUP, Sutter Hill, General Catalyst and Engineering Capital.