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.
Cymulate, the most comprehensive SaaS-based Breach and Attack Simulation (BAS) platform, today announced it has achieved 240% revenue growth in global 2019 new bookings compared to its strong, treble-growth performance of 2018. The company attains 91% customer retention and the number of employees has grown by over 220% over the last 12 months as operations extend across Europe and the US to support sales.
Bicycle Therapeutics plc (NASDAQ: BCYC), a biotechnology company pioneering a new and differentiated class of therapeutics based on its proprietary bicyclic peptide (Bicycle®) technology, today announced a second collaboration with Cancer Research UK, the world’s largest independent funder of cancer research, in which Cancer Research UK will fund and sponsor development of BT7401, a multivalent Bicycle CD137 agonist, through a Phase IIa clinical study.
Gourmet meat start-up Licious, run by Delightful Gourmet Pvt. Ltd on Monday raised $30 million in a Series E round, led by Singapore-based Vertex Growth Fund (“Vertex Growth”), to help in fast tracking growth and fostering transformation of the meat and seafood ecosystem of India. Existing investors 3one4 Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, and Sistema Asia Fund also participated in the round. With the current round of fundraise, Licious achieves the rare feat of attracting the highest funding in the industry, which puts them at the forefront for transforming the way India experiences meat, the company said in a statement.