Digital+ Partners leads VMRay series-B extension

The second part of the round amounted to approximately $15m.

VMRay intends to put the proceeds of the round towards the developments of its sales and marketing teams, as well as to develop the capabilities of its platform. The company also plans to expand to new markets and geographies, according to a statement.

eCapital has also participated in the round. The firm is currently deploying equity via vehicles including its sector-focused Cybersecurity Fund, which held a final close in December 2018 on €30m.

Digital+ Partners is currently deploying equity via Digital Growth Fund I, which held a final close in July 2018 on €350m and generally makes investments of €5-25m, with the option of making investments of €20-30m in further rounds, with up to €50m available.

Previous funding
In May 2014, High-Tech Gründerfonds (HTGF) backed a €500,000 seed round of VMRay, joined by angel investor Rolf-Christian Wenta.

HTGF and eCapital led a €3.5m series-A for the business in October 2016.

In September 2019, Digital+ Partners and eCapital backed the first part of VMRay's series-B round, committing $10m.

Company
VMRay is a cybersecurity platform for the detection and analysis of malware. VMRay's software aims to allow businesses to minimise risk and protect their data and brands. Its products are VMRay Analyzer, VMRay Detector and VMRay Email Threat Detector. The company was founded in 2013 by Carsten Willems and Ralf Hund and is based in Bochum, with an additional office in Boston. VMRay has more than 100 employees, according to its website.

People
Digital+ Partners – Thomas Jetter (managing director, founding partner).
eCapital – Willi Mannheims (managing director).
VMRay – Carsten Willems (co-founder, CEO).

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• Topics
• Expansion
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• Cybersecurity