Fenwick represented Material Security, an email security company that develops data-driven security software to protect an organization's users and data, in its $100 million Series C financing at a valuation of $1.1 billion. The round was led by Founders Fund with participation from investors Elad Gil and Andreessen Horowitz, among others.
Material Security will use the new capital to expand more internationally, further extend its core technology to new applications and rise to the needs of its customers as an independent entity capable of weathering macroeconomic disruption. More information can be obtained from the company's announcement.
The Fenwick transaction team was led by corporate partner Steve Levine and associates Will Black, Tracy Kennberg, Sloka Tankala and Brandon Ho.