Bengaluru, NFAPost: Israeli cybersecurity startup was founded by an elite team of former IDF intelligence officers who identified frustrating inefficiencies during their cybersecurity operations.
Founded in 2016 by Avihai Ben-Yossef and Eyal Wachsman, who are veterans of the cybersecurity industry, along with entrepreneur and investor Eyal Gruner, Cymulate plays a critical role in empowering organisations to automatically assess and improve their security.
The investors who participated in the funding round include existing investment partners like the investment arm of Vertex Ventures Israel, Dell Technologies Capital, and Susquehanna Growth Equity (SGE).
The company’s mission is to empower organizations worldwide and make advanced cybersecurity as simple and familiar as sending an e-mail. Cymulate is trusted by hundreds of companies worldwide, including leading banks and financial services.
Cymulate’s CEO Eyal Wachsman said the company’s simple and automated approach to security testing is quickly gaining ground with companies of all sizes due to its ease of use and its ability to optimize the ever-changing IT security environment at any given moment.
“We’ve enjoyed an exceptionally strong growth period during the past few months and we therefore decided to pre-empt with another round of funding shortly after our Series A in order to leverage on the strong market adoption with additional resources to accelerate our expansion. We’re delighted that Vertex Growth has joined as an investor and that our recent success has been recognized by our current funding partners who continue to show their commitment and belief in our technology,” Eyal Wachsman.
The Rishon Lezion-based company has raised $26 million to date. The company already raised $7.5 million in Series A funding in March.
According to industry analysts, the number of data breaches and cyberattacks will continue across the globe. “”This will company companies to depend on breach and attack simulation tools to provide more continuous and automated validation of controls. By 2021, companies will have to shell out $6 trillion worldwide to control cybercrime,” says an analyst.
Commenting on the investment, Vertex Growth Managing Director Tam Hock Chuan said the company is looking forward to working with Cymulate to expand its innovative solution globally.
“Within the new and exciting Automated Breach and Attack Simulation space, Cymulate’s solution stands out as highly intuitive and comprehensive. The platform’s ability to effectively test the security controls of a company’s networks allows CISOs to easily assess their cybersecurity posture anytime and automatically, something that companies serious about cybersecurity will readily appreciate,” said Tam Hock Chuan.
Overtaking manual, periodic penetration testing and red teaming, BAS is becoming the most effective method to prepare and predict for oncoming attacks. Security professionals realize that to cope with evolving attackers, a continuous and automated solution is essential to ensure optimal security non-stop.
As the leader in this space, Cymulate’s funding will be invested to fuel further growth in the US, expanding sales, marketing, and operational support to broaden the customer base. The company plans to broaden its approach beyond BAS by offering end-to-end security testing platforms for the entire digital estate of organisations, incorporating on-prem, cloud, IoT and beyond.
Cymulate’s SaaS-based BAS platform plays a critical role in empowering organizations to automatically assess and improve their overall security posture. Simulations of the latest threats in the wild test an organization’s security defenses and controls, across the entire kill chain of attack vectors and APT attack configurations.
Simulations can be run on-demand or scheduled to run at regular intervals. Within minutes, the platform provides specific, actionable insights and data on where a company’s network is vulnerable, highlighting security gaps and mitigation procedures.