Israeli cybersecurity startup Vulcan Cyber today announced raising $10 million in a Series A financing round led by US venture capital fund Ten Eleven Ventures and with the participation of YL Ventures, which led the seed round, and private investors including Glenn Chisholm former CTO of Cylance, which was acquired by Blackberry for $1.4 billion. The company, which has developed a platform for the automated repair of enterprise security breaches, has raised $14 million to date.
Vulcan Cyber was founded in 2018 by CEO Yaniv Bar-Dayan, CPO Tal Morgernstern and CTO Roy Horev. The company has 26 employees of whom 20 are in Israel and plans to increase the workforce to 65 employees with 50 employees in Israel. The company reports that it has 10 paying customers, all of them large US enterprises in the fields of software, finance and online retail. One of the customers is Snowflake, one of the world's fastest growing tech company.
Bar-Dayan said, “IT leadership can no longer rely upon disparate internal resources and legacy processes to comprehend and act upon knowledge of vulnerabilities and other threat intelligence. Only continuous, collaborative, automated remediation, as offered by Vulcan, can close the vulnerability gap, at scale, across today’s cyber threat landscape.”
Published by Globes, Israel business news - en.globes.co.il - on June 26, 2019
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