Israeli identity based access cybersecurity company Cyolo announced today the completion of a $60 million Series B financing round led by National Grid Partners, with participation of existing investors Glilot Capital Partners, Flint Capital, Differential Ventures, and Merlin Ventures. This brings Cyolo’s total funding to $85 million, including a Series A round completed in 2021.
Cyolo was founded in 2019, by CEO Almog Apirion, CTO Dedi Yarkoni and chief architect Eran Shmuely, former commanders of the Israeli Navy Cyber Unit to help organizations remain agile, resilient and productive, by securely connecting onsite and remote users, to the organization's applications, servers, desktops and files. To this end the Tel Aviv-based company developed a Zero Trust Network Access 2.0 solution for IT and OT.
Cyolo will use the new funding to implement its vision of bringing stronger security, greater productivity, and better operational agility to organizations.
Apirion said, "As a former CISO myself, I saw firsthand the complexity and cyber risk of enacting a digital transformation process with users and digital assets spread all over the place. When I couldn’t find a solution to meet my needs, I set out to create one. I joined forces with two ethical hackers to build the most secure and flexible identity-based access solution on the planet. But our real passion is to go far beyond ZTNA and enable simple and secure digital transformation."
The capabilities offered by Cyolo include adding multi-factor authentication, identity federation, built-in password vault, and directory services to ensure identity infrastructure is built on a solid foundation. Cyolo enable customers to secure all users, from high-risk access and third-party users, to remote workers, with full implementation across all users, apps and assets, on-site and remote.
Published by Globes, Israel business news - en.globes.co.il - on June 28, 2022.
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