Go back

Announcing Our Series B

I’m happy to be the bearer of a very small piece of good news in the midst of what’s been a rough year for everyone. Today, we’re finally announcing our Series B led by legendary solo capitalist Elad Gil with participation from existing investor Andreessen Horowitz and a host of top-tier executives and security experts. Elad is a uniquely gifted thinker and investor who’s been involved with our company since near the beginning and it was a fairly obvious choice to work more closely with him as we grow. Our Series B adds an additional $40M of funding to our $22M Series A led by Andreessen Horowitz in 2018.

Industry Insights
April 27, 2021
4m read
4m read
4m listen
4m watch
4m watch
lines in a red background
speakers
speakers
speakers
authors
participants
No items found.
share

I’m happy to be the bearer of a very small piece of good news in the midst of what’s been a rough year for everyone. Today, we’re finally announcing our Series B led by legendary solo capitalist Elad Gil with participation from existing investor Andreessen Horowitz and a host of top-tier executives and security experts. Elad is a uniquely gifted thinker and investor who’s been involved with our company since near the beginning and it was a fairly obvious choice to work more closely with him as we grow. Our Series B adds an additional $40M of funding to our $22M Series A led by Andreessen Horowitz in 2018.

We’re also unveiling our case study with Lyft and a batch of other new public reference customers including Roblox, Databricks, Collective Health, and Iterable. The past year was a busy one with taking care of each other and our families during the pandemic, adding many talented new faces to the team, and growing our business by 472%. Material now partners with everyone from large international conglomerates all the way to high-risk individuals. We’re honored to serve some of the finest Security and IT teams on the planet and we’re grateful to learn from them every day.

What is Material?

Material Security is a group of people and a software company dedicated to the idea that it takes just as much creativity to make a technology safe as it does to invent it. Or, as a customer put it recently: “you’re trying to make tech into a single-edged sword.” We know that just because a technology is old and/or ubiquitous doesn’t mean it’s safe (the example we gave in our original manifesto was the 70 year gap between the invention of the automobile and the modern seatbelt). We believe that cybersecurity is a fundamental challenge to open societies in the 21st century and that to combat this, software vendors in our industry should reform to embrace pragmatism, productivity, and interdisciplinary thinking.

Our mission began after the 2016 US elections with protecting email and the increasingly dire state of this problem has demanded our continued focus there. As a technology, email is downright antediluvian, but that didn’t stop state-sponsored hackers from unprecedented attacks that compromised the email of hundreds of thousands of organizations and governments in the recent SolarWinds and Hafnium incidents. Moreover, the pandemic’s rapid and unexpected shift to WFH broke traditional infosec assumptions for millions of workers. This required leading-edge “Zero Trust” software vendors like Material to bring new techniques to bear in diverse environments at an accelerated pace. It’s been the most rewarding work of my life, but like so many others we’re emerging from this year wiser, more thankful, and extremely hungry to rebuild and rekindle human relationships.

The Future

Fundraises are just a milestone: the future is built by people, not capital. I want to thank each of our customers for placing your trust in us and for your collaboration, creativity, and evangelism. You are what gets us out of bed and onto Zoom in the morning. Our new funding will make it easier to grow with you and support your needs as you face all of the unexpected infosec challenges of the next ten years. I also want to thank all of our early investors, advisors, and friends who believed that email security could mean more than just overgrown spam detectors—and who we’ve missed terribly this year.

After this year we all have great challenges in front of us, and we all have a role in overcoming them. At Material our work is clear to us, and we wish you the very best in yours.

Related posts

Our blog is your destination for expert insights, practical tips, and the latest news in technology. Stay informed with our regular updates and in-depth articles. Join the conversation and enhance your understanding of the tech landscape.

blog post

Classifying Chaos: How Material Automates User-Reported Phishing at Scale

While automated detection systems catch many threats, user reports remain a vital defense layer – often catching sophisticated attacks that slip through automated filters. See how Material solves this problem.

Eddie Conk
10
m read
Read post
Podcast

Classifying Chaos: How Material Automates User-Reported Phishing at Scale

While automated detection systems catch many threats, user reports remain a vital defense layer – often catching sophisticated attacks that slip through automated filters. See how Material solves this problem.

10
m listen
Listen to episode
Video

Classifying Chaos: How Material Automates User-Reported Phishing at Scale

While automated detection systems catch many threats, user reports remain a vital defense layer – often catching sophisticated attacks that slip through automated filters. See how Material solves this problem.

10
m watch
Watch video
Downloads

Classifying Chaos: How Material Automates User-Reported Phishing at Scale

While automated detection systems catch many threats, user reports remain a vital defense layer – often catching sophisticated attacks that slip through automated filters. See how Material solves this problem.

10
m listen
Watch video
Webinar

Classifying Chaos: How Material Automates User-Reported Phishing at Scale

While automated detection systems catch many threats, user reports remain a vital defense layer – often catching sophisticated attacks that slip through automated filters. See how Material solves this problem.

10
m listen
Listen episode
blog post

Protecting Patients’ Data Beyond HIPAA Requirements

Recent proposed changes to the HIPAA Security Rule don’t go far enough, but that shouldn’t stop healthcare organizations from keeping patient data safe.

Rajan Kapoor
7
m read
Read post
Podcast

Protecting Patients’ Data Beyond HIPAA Requirements

Recent proposed changes to the HIPAA Security Rule don’t go far enough, but that shouldn’t stop healthcare organizations from keeping patient data safe.

7
m listen
Listen to episode
Video

Protecting Patients’ Data Beyond HIPAA Requirements

Recent proposed changes to the HIPAA Security Rule don’t go far enough, but that shouldn’t stop healthcare organizations from keeping patient data safe.

7
m watch
Watch video
Downloads

Protecting Patients’ Data Beyond HIPAA Requirements

Recent proposed changes to the HIPAA Security Rule don’t go far enough, but that shouldn’t stop healthcare organizations from keeping patient data safe.

7
m listen
Watch video
Webinar

Protecting Patients’ Data Beyond HIPAA Requirements

Recent proposed changes to the HIPAA Security Rule don’t go far enough, but that shouldn’t stop healthcare organizations from keeping patient data safe.

7
m listen
Listen episode
blog post

New in Material: Unified Detections and Automated Responses

Bundle up and get cozy—our latest update is packed with frosty new features and cool improvements to keep your security sleigh running smoothly.

Patrick Duffy
2
m read
Read post
Podcast

New in Material: Unified Detections and Automated Responses

Bundle up and get cozy—our latest update is packed with frosty new features and cool improvements to keep your security sleigh running smoothly.

2
m listen
Listen to episode
Video

New in Material: Unified Detections and Automated Responses

Bundle up and get cozy—our latest update is packed with frosty new features and cool improvements to keep your security sleigh running smoothly.

2
m watch
Watch video
Downloads

New in Material: Unified Detections and Automated Responses

Bundle up and get cozy—our latest update is packed with frosty new features and cool improvements to keep your security sleigh running smoothly.

2
m listen
Watch video
Webinar

New in Material: Unified Detections and Automated Responses

Bundle up and get cozy—our latest update is packed with frosty new features and cool improvements to keep your security sleigh running smoothly.

2
m listen
Listen episode
blog post

New in Material: Detections, Remediations, Reports & More

As the days grow shorter and the weather gets colder, Material’s ready with a steady stream of hot platform updates to keep you warm.

Patrick Duffy
4
m read
Read post
Podcast

New in Material: Detections, Remediations, Reports & More

As the days grow shorter and the weather gets colder, Material’s ready with a steady stream of hot platform updates to keep you warm.

4
m listen
Listen to episode
Video

New in Material: Detections, Remediations, Reports & More

As the days grow shorter and the weather gets colder, Material’s ready with a steady stream of hot platform updates to keep you warm.

4
m watch
Watch video
Downloads

New in Material: Detections, Remediations, Reports & More

As the days grow shorter and the weather gets colder, Material’s ready with a steady stream of hot platform updates to keep you warm.

4
m listen
Watch video
Webinar

New in Material: Detections, Remediations, Reports & More

As the days grow shorter and the weather gets colder, Material’s ready with a steady stream of hot platform updates to keep you warm.

4
m listen
Listen episode
Privacy Preference Center

By clicking “Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.