Sequoia in $42m series-B for Tessian

LocalGlobe also took part in the round via its recently launched series-B-focused vehicle Latitude, alongside existing investors Balderton Capital and Accel.

The fresh capital will enable the company to invest in product development and pursue international expansion, with a particular focus on the US market.

Sequoia partner Matt Miller will take a seat on the Tessian board as part of the deal.

Previous funding
A consortium of VC firms including Accel, LocalGlobe, Amadeus Capital Partners, Winton Ventures and Crane led a $2.7m seed round for Tessian in 2017.

Balderton then led a $13m series-A for the company in June 2018, with Accel, Amadeus, Crane, LocalGlobe, Winton and Walking Ventures also taking part.

Company
Founded in 2013, Tessian is a London-based software developer focusing on email security. It uses machine learning to recognise normal email communication patterns and automatically identify security threats. Its clients include Clifford Chance, Dentons, Schroders, Investec and Rightmove.

Tessian increased its revenues by 300% in 2018, according to a statement.

People
Sequoia Capital – Matt Miller (partner).
Accel – Luciana Lixandru (partner).
Balderton Capital – Suranga Chandratillake (partner).
LocalGlobe – Suzanne Ashman (partner).
Tessian – Tim Sadler (CEO, co-founder).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Balderton Capital
• Accel Ventures
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