Material Security
Redwood City, California, United States
Valuation
$1.1B
2024 Revenue
$18.3M
Funding
$162M
YOY
11.3%
Team · 2025
89
Founded
2017
How Material Security CEO Abhishek Agrawal grew to $18.3M revenue with a 89 person team 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. Since its launch in 2017, Material Security has shown consistent revenue growth.
| Year | Milestone | Quote |
|---|---|---|
| 2024 | Material Security Hit $18.3m revenue in December 2024 | |
| 2023 | Material Security Hit $16.4m revenue in December 2023 | |
| 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 | Quote |
|---|---|---|---|---|---|
| 2022 | Series C | $100M | $1.1B | 9% | |
| 2021 | Series B | $40M | - | - | |
| 2020 | Series A | $22M | - | - |
Founder / CEO
Q&A
| Question | Answer |
|---|---|
| What's your age? | - |
| Favorite online tool? | - |
| Favorite book? | - |
| Favorite CEO? | - |
| Advice for 20 year old self | - |
Customers
We do not have customer count information for Material Security yet.
Material Security Employees & Team Size
Material Security employs approximately 89 people as of 2026, down from 108 in 2023.
| Year | Milestone |
|---|---|
| 2025 | Reached 89 employees (November 2025) |
| 2023 | Reached 108 employees (December 2023) |
| 2022 | Reached 79 employees (December 2022) |
Frequently Asked Questions about Material Security
What is Material Security's revenue?
Material Security generates $18.3M in revenue.
Who founded Material Security?
Material Security was founded by Abhishek Agrawal.
Who is the CEO of Material Security?
The CEO of Material Security is Abhishek Agrawal.
How much funding does Material Security have?
Material Security raised $162M across 3 rounds.
How many employees does Material Security have?
Material Security has 89 employees.
Where is Material Security headquarters?
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.
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