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Material Security

Unicorn · $1.1B

San Francisco, US · Founded 2017 · 85 employees on LinkedIn · 9 known investors

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Paul Kwanunlockedknows Ryan · together at Stanford University (overlapped)
×4knows the team · via Dropbox
×2knows the team · via Stanford University
×2knows the team · via Barclays Global Investors
×2knows the team · via Stealth Startup
knows the team · via University of California, Berkeley

Material Security provides cloud workspace security that prevents attacks and protects data across Microsoft 365 and Google Workspace for enterprise companies. The platform unifies email security, file protection, data loss prevention, and posture management in a single tool.

Also known as Material · Stellarite

Founders & leadership

RRyan
Ryanin𝕏Ryan holds two computer science degrees from Stanford and previously founded Parastructure, which was acquired by Dropbox where he led infrastructure teams. He also worked on a Department of Defense-backed company spun out of Stanford, and founded Material Security, which provides cloud workspace security for enterprise organizations.
AAbhishek
Abhishekin𝕏Founder
CChris
Chrisin𝕏Chris founded Material Security, a cloud-based security platform for Microsoft 365 and Google Workspace that protects enterprise data through email security, file protection, and data loss prevention capabilities.
AAAbhishek Agrawal
Abhishek Agrawalin𝕏Co-Founder & CEO
CPChris Park
Chris Parkin𝕏Co-founder & VP EngineeringFounder of Material Security, a cloud-based security platform for Microsoft 365 and Google Workspace. Prior to founding Material, Park worked in the security industry where he developed expertise in email protection and data loss prevention.
RNRyan Noon
Ryan Noonin𝕏Cofounder and ChairmanRyan Noon founded Material Security, a cloud workspace security platform protecting Google Workspace and Microsoft 365 for enterprise organizations. He previously led infrastructure teams at Dropbox following its acquisition of his company Parastructure, and has a background in defense technology and two computer science degrees from Stanford.

Investors · 9

Also in the syndicate · 2

Andreesen Horowitzangel investors

Funding

SEC filings, press & company announcements

$40M disclosed across 1 of 4 rounds · 2017–2022

Source: company announcements and press reports — follow each round's link for the claim.

Valuation · disclosed

Disclosed events
$1.1Bvaluation at Series CJan 2022
filing ↗

Source: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.

Company profile

researched Aug 2026

Material Security is an enterprise software company that secures cloud productivity suites, aiming to stop attacks and reduce risk across Microsoft 365 and Google Workspace. Its single product spans inbound email security, file exposure and data protection, OAuth/third-party app and AI-agent governance, account-takeover containment, and tenant configuration posture, and is deployed entirely through platform APIs rather than by rerouting mail flow.

The company frames the problem as a "workspace attack chain" in which an attack begins with credential phishing, social engineering or business email compromise, escalates to account takeover through forwarding rules, OAuth grants and legacy authentication, then leads to bulk data exfiltration from mail and files and lateral movement via password resets, verification codes and exposed secrets. Rather than defending only the point of entry, Material adds controls further along that chain: its inbound email security detects and remediates attacks missed by native and legacy gateway defenses and automates triage of user-reported messages; an OAuth Remediation Agent surfaces real-time activity logs for authorized third-party apps and AI agents in Google Workspace and allows instant revocation; file security locates PHI, PII and other sensitive documents shared too broadly in Drive and remediates in bulk by restricting links and revoking access; and account-takeover containment redacts sensitive messages before an attacker can read them, applies message-level access controls to block password resets, and gives investigators a view of what an intruder accessed.

Founding story

Ryan Noon, Abhishek Agrawal and Chris Park founded the company in 2017. Noon and Agrawal met at Dropbox after Dropbox acquired Noon's prior startup Parastructure in 2014, and Park had been Parastructure's first engineer. Noon left Dropbox in 2016 and moved to Berlin; the 2016 U.S. election email hacks, and his realization that anyone could read a former White House official's personal email, sparked the idea that became Material. The founders prioritized assembling the team over choosing a product, structuring their search like a software testing lifecycle with defined goals, durations and exit criteria for a "discussion phase." They tracked 25 opportunities in a "spaces and opportunities" spreadsheet, eliminated ideas that did not interest all three, appeared commercially unviable, or did not fit their agreed B2B model, and narrowed to four software ideas — two in security and one in people analytics — writing "flight plans" to validate each. When angel investors wrote the first check in July 2017, the trio were still pitching four ideas and had not built an MVP, and they used a pre-selling technique to identify the winning one. The stated motto is that it takes at least as much creativity to make a technology safe as it does to invent it.

Business model

Material sells a business-to-business enterprise software product to organizations running Google Workspace or Microsoft 365. Prospective customers request a demo, and the platform is deployed via API integrations with the two cloud productivity suites. The founders agreed at the outset to pursue a B2B business model.

Material sells its workspace security platform to enterprise organizations as a B2B software product; specific pricing terms are not disclosed publicly.

Traction

The company reports wall-to-wall adoption by dozens of well-known companies and leading security teams following its 2020 launch, with business growth fueled by referrals and advocacy from the security community, and says it is trusted by household-name customers and companies working on the frontier of AI.

Latest developments

Recent company communications emphasize that AI-driven attacks and AI agents are entering the workspace and that workspace security underpins AI security. Material has introduced an OAuth Remediation Agent for governing third-party apps and AI agents in Google Workspace, published an open Model Context Protocol server linking AI agents to its email detection and remediation capabilities, described a behavioral, spectrum-based approach to sender reputation, and treats its interactive, machine-readable documentation as a core product feature. It also argues in published content that the email security battlefront has shifted to the cloud workspace, OAuth tokens and sensitive files.

Full profile — market position, technology, go-to-market, geography, history

Market position

Material operates in the cloud email and workspace security market alongside the native security controls of Google and Microsoft and legacy secure email gateway vendors. It reached unicorn status less than two years after leaving stealth, with a $1.1 billion valuation at its Series C, and states that its product has been adopted by dozens of well-known companies and some of the strongest security teams in the world. Public customer testimonials come from security leaders including a Chief Security & Trust Officer, a lead security engineer and a head of security.

Material positions itself against point solutions and legacy secure email gateways by covering the full workspace attack chain — email threats, file exposure, app and agent governance, account takeover and tenant configuration — in one product installed via API in minutes. Its founding insight was counterintuitive for the category: rather than concentrating solely on blocking attacks at the point of entry, it also protects the sensitive data attackers seek once inside a mailbox, for example by redacting messages and requiring additional verification to access them.

Technology

The platform is built on the APIs that Microsoft and Google expose for their cloud email and productivity applications, combined with modern authentication technologies, enabling deployment without traditional mail-flow changes. Capabilities include email threat detection and remediation, behavioral sender-reputation scoring treated as a spectrum rather than a binary allow/block decision, message-level access controls and redaction of sensitive email content, bulk file-sharing remediation in Drive, OAuth grant monitoring with activity-level logging and revocation, and tenant configuration posture management. Material has also published an open Model Context Protocol (MCP) server that connects AI agents to its email security detection and remediation capabilities.

Go-to-market

The company markets through its website with product-specific entry points for Google Workspace and Microsoft 365 buyers, a demo request flow, technical content such as engineering blog posts and interactive documentation positioned as a product feature, and in-person events including a "Security Theater Live" event in Austin. Growth has been driven substantially by customer referrals and word of mouth within the security community, supported by close collaboration with customers and an emphasis on customer support.

Enterprise organizations, including large recognizable brands, AI companies and security-mature teams, that run Google Workspace or Microsoft 365; buyers are security leaders and engineers such as chief security officers, heads of security and security engineers.

Geography

Headquartered in the United States, with the Series C proceeds earmarked in part for further international expansion; company events include a security event in Austin, Texas.

History

Founded in 2017, the company operated in stealth under the code name Stellarite until June 2020, when it publicly announced itself alongside a manifesto titled "Why Security Is Hard" and launched its email security product during the COVID-19 pandemic. Roughly two years later it announced a $100 million round led by Trae Stephens at Founders Fund at a $1.1 billion valuation, with existing investors Andreessen Horowitz and Elad Gil participating. Ryan Noon transitioned from CEO-level leadership to Chairman in 2023, with co-founder Abhishek Agrawal serving as CEO and co-founder Chris Park as VP of Engineering. The product line has since broadened from email into file security, OAuth and AI-agent access governance, account-takeover containment and posture management, and the company has published an MCP server for AI-agent integration.

Compiled by commissioned research from 7 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
HeadcountAug 202685
ValuationJan 2022$1.1B

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Founder mafia

5 people who came through Material Security went on to found or lead other companies.

Competitors · 8

by search overlap
ProjectDiscovery145 shared keywordsMimecast provides email security, data loss prevention, cloud archiving, and human risk management products used by organizations to protect communications and data. Its cybersecurity portfolio serves enterprise and channel-partner customers across regions including EMEA and APAC.
illusive networks124 shared keywordsProofpoint offers a suite of enterprise security and compliance products that protect people, email, cloud apps, and data from human-centric cyber threats using machine learning and AI. Its tools also cover data loss prevention, communications archiving, e-discovery, compliance supervision, identity threat detection, and security awareness training.
Proton90 shared keywordsProton develops free and open-source privacy and security software including encrypted email, contacts, and VPN services. The company uses its technology and resources to defend digital freedom, internet access, and privacy rights globally, particularly for journalists, activists, and people living under authoritarian regimes.
Docontrol87 shared keywordsDoControl provides SaaS data security software that uses identity, user, and behavioral context to detect and remediate data exposure across cloud collaboration platforms like Google Workspace and Microsoft 365. It targets enterprise security teams, addressing risks such as external oversharing, departing-employee data exfiltration, and non-human/AI agent access to sensitive files.
Metomic82 shared keywordsMetomic provides automated security software that protects data across SaaS and AI tools for companies seeking to safely unlock AI capabilities.
Spin75 shared keywordsSpinOne is an agentless, API-based SaaS data protection platform that secures data across Google Workspace, Microsoft 365, Slack, Salesforce, and Jira through unified backup, ransomware detection, posture management, and data loss prevention. It serves enterprise IT security and operations teams seeking to protect mission-critical SaaS applications while maintaining compliance with standards like HIPAA, GDPR, and SOC 2.
Paubox62 shared keywordsPaubox offers AI-powered email security that uses generative AI and behavioral analysis to detect and block phishing attacks, executive impersonations, and email-based threats. The platform serves healthcare organizations and other enterprises seeking to protect against sophisticated email attacks while maintaining compliance with data privacy requirements.
Varonis Systems59 shared keywordsVaronis provides a data security platform that discovers, classifies, and monitors data across multi-cloud, SaaS, hybrid, and AI environments, managing permissions and detecting threats in real time. It also offers AI-native email and browser security and agentless database monitoring for enterprise security teams.

Companies competing with Material Security for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline · 3

launches, deals, and filings
Jan 2023
Co-founder Ryan Noon becomes Chairman

Ryan Noon, who co-founded Material in 2017, has served as Chairman since 2023; co-founder Abhishek Agrawal is CEO.

source ↗

Jan 2022
Material Security raises $100M Series C led by Founders Fund at a $1.1B valuation

Material announced $100M of new funding led by Trae Stephens at Founders Fund, valuing the company at $1.1 billion, with participation from existing investors Andreessen Horowitz and Elad Gil plus new individual investors. The company said the capital would fund international expansion and extension of its core technology to new applications.

$100M source ↗

Jun 2020
Material Security emerges from stealth

The company operated in stealth under the code name Stellarite until June 2020, when it launched its email security product publicly.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

Research sources · 7

primary sources listed

7 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Material Security do?
Material Security sells API-deployed workspace security covering email, files, identity and app access for Google Workspace and Microsoft 365.
Who founded Material Security?
Material Security was founded by Ryan, Abhishek, Chris, Abhishek Agrawal, Chris Park, Ryan Noon in 2017.
Who are Material Security's investors?
Material Security's investors include Andreessen Horowitz, Abstract Ventures, Amplify Partners, Harpoon Ventures, South Park Commons, Founders Fund, Script Capital.
How much funding has Material Security raised?
Material Security has disclosed $40M raised across 1 of its 4 known rounds.
Where is Material Security headquartered?
Material Security is headquartered in San Francisco, US.