Israeli cyber risk management platform Vulcan Cyber today announced it has closed its $55 million Series B financing round, with the addition of a $34 million investment led by Maor Investments and Ten Eleven Ventures with participation from existing Vulcan Cyber investors Dawn Capital and Wipro Ventures. This brings the amount raised by the company to $70 million.
The Tel Aviv-based company has developed a SaaS solution that goes beyond traditional vulnerability scanning and vulnerability management to help cybersecurity teams and asset owners mitigate the cyber risk that presents the most critical threat to customers’ unique organizations.
With offices in Tel Aviv and San Francisco, the company was founded by CEO Yaniv Bar-Dayan, CPO Tal Morgenstern and CTO Roy Horev.
Vulcan Cyber reports more than doubling revenue year-on-year in the 12 months ending September 30 2023, while aligning with current market requirements for operational efficiency.
Bar-Dayan said, "Vulcan Cyber is leading the way in a push to move beyond common vulnerability management functions of scan and prioritize, to ease the heavy lifting of meaningful risk mitigation. Efficient collaboration between security, engineering, operations teams and asset owners is essential. Orchestration and automation of remediation tasks at enterprise scale is critical. This round of funding will help Vulcan Cyber deliver on its vision to help customers align vulnerability risk management efforts with business priorities."
Published by Globes, Israel business news - en.globes.co.il - on November 15, 2023.
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