Halon secures $1.8M in funding from K-Svets Venture, adds new CEO for expanding its mail platform business

Sweden Investments 08 March 2018
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Halon Security, a Gothenburg, Sweden company providing a software solution for handling large amounts of in-transit email, announced that it received $1.8M in a venture capital investment round.

The backers include K-Svets Venture and existing investors and the money will be used to fuel the expected growth of the company.

In connection to the investment, co-founder Peter Falck steps down as CEO, with Martin Fabiansson being appointed as the new leader of the company.

Halon Security, founded in 2013, developed a platform for in-transit email aimed for companies that build and operate large-scale email services. The company has twelve employees and works with customers including Dutch telco KPN and Danish web hosting company One.com.

In 2016 made about SEK 10M ($1.2M) in revenues, while losing SEK 3.2M.

Prior to this deal, Halon raised money from Almi Invest and Chalmers Ventures.