HTGF commits to VMRay seed round

The company stated it would use the financing to perfect its software and transform it into a marketable and easy-to-use product, with the intention to start trading in the second half of 2014.

According to VMRay, the IT security software market had a global volume of $21bn in 2013 and is expected to grow by approximately 9% per year.

HTGF says it chose to invest because of VMRay's unique technology offering; it is the only company to provide 64-bit rootkit analysis.

HTGF usually invests €500,000 in early-stage rounds and used its second fund, High-Tech Gründerfonds II, to make the investment. According to unquote" data, the deal marks HTGF's third investment in May 2014 and 17th deal so far this year. The venture capital firm seeks to invest in Germany-based technology companies and has an average holding period of seven years. 

Company
Founded in September 2013 in Bochum, VMRay software analyses the behaviour of malware such as computer viruses and worms, Trojans, spyware, kernel rootkits and kernel bootkits. It focuses specifically on 64-bit malware such as advanced persistent threats. The VMRay process completely separates the infected system from the analytical system, meaning that the malware continues to work when being analysed, rather than ceasing to function as with other forms of analytical software.

People
Carsten Willems and Ralf Hund are co-founders of VMRay. Holger Heinen is investment director at HTGF.

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• Topics
• DACH
• Early-stage
• Technology
• Germany
• High-Tech Gründerfonds