Israeli cybersecurity company Cymulate today announced the completion of a $45 million Series C financing round led by One Peak, together with existing investors Susquehanna Growth Equity (SGE), Vertex Ventures Israel, Vertex Growth and Dell Technologies Capital. Cymulate has now raised $71 million to date.
The funding will be used to accelerate revenue growth. In 2020, Cymulate doubled revenue year-over-year and expanded its work force by over 150%. Cymulate serves hundreds of customers including leading enterprises and F500 companies and most recently announced a partnership with global telecom giant NTT.
Based in Rishon Lezion, Cymulate was founded in 2016 by CTO Avihai Ben-Yossef, CEO Eyal Wachsman, and Eyal Gruner, a serial entrepreneur and investor in cybersecurity startups.
Cymulate has developed a platform to validate an organization's cyber posture continuously and on-demand, by testing their cloud and on premise networks against the latest threats.
Wachsman said, "Cymulate saw a 50% increase in the number of unique attacks in the wild in 2020, and as APT groups are becoming increasingly aggressive and disruptive, there is a real need for companies to run daily or weekly assessments of their security posture. A loss of customer trust due to the fallout of a major attack is extremely hard to regain."
Published by Globes, Israel business news - en.globes.co.il - on May 5, 2021
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