Wandera, a London-based cybersecurity firm, has announced a £22 million round of equity (£16 million) and debt (£6 million) funding.

The round was led by Sapphire Ventures with participation from previous investors Bessemer Venture Partners and 83North.

Wandera has developed MI:RIAM, a mobile intelligence engine that detects threats via machine learning and provides analytics on the threat. The company said that last week the engine detected 400 new variants of the SLocker ransomware. Ransomware has been in the headlines a great deal this past week following the outbreak of the WannaCry malware globally.

“Very quickly we recognized the strength of Wandera’s cloud architecture and the effectiveness of its technology to identify emerging threats and enable proactive policy actions,” said Andreas Weiskam of Sapphire Ventures, who will be joining Wandera’s board of directors.

Wandera's clients are mainly in areas like healthcare, finance, technology, and professional services.

The spate of hacks and data breaches of the last few years has created a bustling market for cybersecurity firms competing for consumer and enterprise business.

“This funding is a real testament to the team and technology we have built here at Wandera,” said Roy Tuvey, president at Wandera, which is based in London with offices in Athens, Brno, Tel Aviv, and San Francisco.

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