SECURITY
SECURITY
SECURITY
Israeli penetration testing startup Cymulate raises $7.5M to expand in US
Israeli security penetration testing startup Cymulate today said it has raised $7.5 million in new funding to expand its operations in the U.S and invest further in its research team.
The round was led by Vertex Ventures and Dell Technologies Capital and included Susquehanna Growth Equity and Eyal Gruner.
Founded in 2016, Cymulate offers a breach and attack simulation platform that allows organizations to assess their overall security posture automatically, validating that security measures and controls are working as expected.
The startup’s platform covers various systems, such as Windows Domain Network configurations, email, web traffic and web servers. It provides a continuous cloud-based, on-demand solution that replaces a traditional model of quarterly or annual testing.
The Cymulate platform is said to be deployable within minutes and the simulated attacks provide immediate results that include vulnerabilities and mitigation procedures to close each gap.
The company has launched its technology in key markets across all industry verticals, with customers in North America, Europe, Asia and Australia. Along the way, it has picked up several awards including a Cool Vendor in Application and Data Security from Gartner, a Gold Global Excellence Award from Info Security Products Guide and a Fortress Cyber Security Award from Cyber Defense Magazine.
Penetration testing, the market segment Cymulate operates in, is a growing market, with revenues expected to rise to $7.61 billion in 2021, according to Markets & Markets.
“The fast adoption of our platform by organizations optimizing their protection against attacks has enabled Cymulate to consistently surpass revenue and sales targets with triple growth which permits us now to focus on innovation and outreach,” Eyal Wachsman, co-founder and chief executive officer of Cymulate, said in a statement. “We’ve been very strategic about the amount of funding we’ve raised in this round. This new funding will ensure that we remain ahead of the curve with the best Breach and Attack Simulation platform in the industry while broadening strategic partnerships as we scale up research and operations to increase market share in 2019 and beyond.”
Including the new funding, Cymulate has raised $11 million to date. The company’s last funding round was in March 2017.
Image: Cymulate
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