Material Security
Unicorn · $1.1BSan Francisco, US · Founded 2017 · 85 employees on LinkedIn · 9 known investors
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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
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Investors · 9
Also in the syndicate · 2
Funding
SEC filings, press & company announcements$40M disclosed across 1 of 4 rounds · 2017–2022
- Undisclosed amountSeries-CMay 2022
Founders Fund (lead), Andreesen Horowitz
Source ↗ - $40MSeries BMay 2021 · 2 sourcesSource ↗
Source: company announcements and press reports — follow each round's link for the claim.
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026Material 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 reportedCompany-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 overlapCompanies competing with Material Security for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline · 3
launches, deals, and filingsRyan Noon, who co-founded Material in 2017, has served as Chairman since 2023; co-founder Abhishek Agrawal is CEO.
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 ↗
The company operated in stealth under the code name Stellarite until June 2020, when it launched its email security product publicly.
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
- Material Securitymaterial.security · web
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.

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