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