posted on 27 Nov 2019
Cymulate today announced that it has raised $15 million in venture capital as the cybersecurity company continues international expansion of its cloud-based platform.
Founded in 2016, Cymulate is based in Israel, which has become a hotbed of cybersecurity startups. The company’s service allows clients to simulate potential attacks in order to optimize security systems to thwart them.
In addition to creating thousands of different types of breach simulations, Cymulate pinpoints weaknesses and proposes fixes.
“Our simple and automated approach to security testing is quickly gaining ground with companies of all sizes due to its ease of use and its ability to optimize the ever-changing IT security environment at any given moment,” said Cymulate CEO Eyal Wachsman in a statement.
By automating the ability to test, Cymulate enables more periodic testing than would be possible if someone had to manually create simulated scenarios to mimic specific attacks. It also lets clients adapt their testing rapidly as hackers evolve their methods for breaching systems.
The round was led by Vertex Growth Fund, with participation from previous investors, including Vertex Ventures Israel, Dell Technologies Capital, and Susquehanna Growth Equity (SGE). The company has now raised a total of $26 million.
Cymulate had just completed a round earlier this year but said it wanted to take advantage of rapid growth to quickly raise a follow-on round. In just under three years, the company has expanded to the U.S., Europe, and Asia, with a concentration of customers in financial services and health care.
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