Material Security
Redwood City, California, United States
Valuation · 2022
$1.1B
2024 Revenue
$18.3M
Funding
$162M
Team · 2025
89
Founded
2017
Material Security Revenue, Valuation & Funding (2024)
Material Security generated $18.3M in revenue in 2024.
Material was created following the 2016 election hacks that altered history and underscored the significance and vulnerability of our private data. It provides protection for accounts even when they have been compromised or when harmful messages manage to pass through. This cloud-based solution can be deployed within 30 minutes and allows exclusive management by the customer. Among our esteemed clientele are some of the world's most prominent security teams, such as Mars, Sonos, Gusto, PagerDuty, and Cloudera. To date, Material has raised $22 million from Andreessen Horowitz and distinguished angel investors from both within and outside the security community. Check out more about Material at https://material.security/love.
Last updated
Material Security Revenue
In 2024, Material Security's revenue reached $18.3M. The company previously reported $16.4M in 2023.
| Year | Milestone | Source |
|---|---|---|
| 2024 | Material Security Hit $18.3m revenue in December 2024 | Not recorded |
| 2023 | Material Security Hit $16.4m revenue in December 2023 | Estimated |
| 2017 | Launched with $0 revenue |
Material Security Valuation, Funding Rounds
Material Security reached a $1.1B valuation in 2022, set during its Series C round.
Material Security has raised $162M in total funding across 3 rounds, most recently a $100M Series C round in 2022.
| Year | Round | Amount | Valuation | % Sold | Source |
|---|---|---|---|---|---|
| 2022 | Series C | $100M | $1.1B | 9% | businesswire.com |
| 2021 | Series B | $40M | - | - | businesswire.com |
| 2020 | Series A | $22M | - | - | clay.com |
Founder / CEO
Material Security Employees & Team Size
Material Security employs approximately 89 people as of 2026, down from 108 in 2023.
| Year | Milestone | Source |
|---|---|---|
| 2025 | Reached 89 employees (November 2025) | Not recorded |
| 2023 | Reached 108 employees (December 2023) | Not recorded |
| 2022 | Reached 79 employees (December 2022) | Not recorded |
Frequently Asked Questions about Material Security
Is Material Security still an independent company?
No. Material Security was acquired.
What is Material Security's revenue?
As of 2024, Material Security generated $18.3M in revenue.
Who founded Material Security?
Material Security was founded by Abhishek Agrawal.
When was Material Security founded?
Material Security was founded in 2017.
How much funding does Material Security have?
Material Security raised $162M across 3 rounds.
How many employees does Material Security have?
As of 2025, Material Security had 89 employees.
Where is Material Security headquartered?
Material Security is headquartered in Redwood City, California, United States.
Compare Material Security to the industry
Material Security operates across multiple industries. Browse revenue, funding, and growth data for Material Security in each sector below.
Data and Sources
All figures on this page are taken directly from interviews or are estimates from public sources and proprietary models. Not financial advice. Read full disclaimer.
Claim this profilePeople Also Viewed
BMLL Technologies
Provider of a limit order book data and analytics platform designed to enable research scientists...
AcuityMD
AcuityMD develops a medical technology software platform for commercializing and improving medical...
Dattos
Operator of a data reconciliation platform intended to enable companies to automate high volume...
Bitla Software Pvt Ltd
Developer of SaaS, cloud and mobile technology services intended for travel, hospitality, holidays...
Betts Recruiting, Inc.
By leveraging over a decade of recruiting experience, we created a platform that reduces time to...
MultiSafepay
MultiSafepay has pioneered Europe's most personalized payments ecosystem for small to medium-sized...
