Molten Ventures led a $19M funding round to Binalyze

Ellex in Estonia advised venture capital firm Molten Ventures on the $19M Series A funding round to Estonian cybersecurity start-up Binalyze.

The funding was led by Molten Ventures with participation from existing investors Earlybird Digital East and OpenOcean, as well as new strategic investors: Cisco Investments, Citi Ventures, and Deutsche Bank Corporate Venture Capital.

Binalyze is a cybersecurity company specializing in the development of advanced digital forensics and incident response (DFIR) platforms that automate the investigation and response to cyber threats.

The involved investment will allow the company to bring the Binalyze AIR 4.0 solution to the market and the opening of a virtual research center already in October of this year. The money raised will also support the integration of artificial intelligence/machine learning into their solution.

Molten Ventures was advised by Partner Antti Perli, Counsel Rutt Värk, Senior Associates Merlin Liis-Toomela and Hanna Pahk, as well as Lawyers Liis Tava and Hegle Pärna.