NEW YORK and TEL AVIV, Israel, Sept. 6, 2022 /PRNewswire — Cymulate, the market leader in Extended Security Posture Management (XSPM), today announced a $70 million Series D investment led by existing investors One Peak, together with Susquehanna Growth Equity (SGE), Vertex Ventures Israel, Vertex Growth, and Dell Technologies Capital. Cymulate has raised $141M to date.
The latest investment, which is among the largest for continuous
security testing vendors, doubles Cymulate’s funding raised to date and
accelerates the Company’s global expansion and pace of innovation.
In a recent report on Continuous Threat Exposure Management (CTEM) GartnerⓇ analysts observed, “Previous
approaches to managing the attack surface are no longer keeping up with
digital velocity — in an age where organizations can’t fix everything,
nor can they be completely sure what vulnerability remediation can be
safely postponed. CTEM is a pragmatic and effective systemic approach to
continuously refine priorities, walking the tightrope between those two
impossible extremes.“* The global shortage of 2.72 million
cybersecurity professionals, and overstretched in-house security
resources further exacerbates the need for Cymulate’s real-world
solutions which closes security gaps quickly and efficiently,
rationalizes technology, helps upskill staff and improves processes.
“We are thrilled to lead this round of investment in Cymulate,” said David Klein, Managing Partner of One Peak. “Cyber posture management and continuous security validation have
dramatically increased in popularity in response to the onslaught of
ransomware and cyber warfare for businesses across all size ranges.
Cymulate is the clear leader in the sector, and we look forward to
continuing to support the Company in further accelerating its already
strong growth trajectory.”
Cymulate sets the industry standard for organizations to use
automation to continuously validate their threat exposure and cyber
posture, by testing their cloud and on-premise networks against the
latest threats in the wild. The Company’s Extended Security Posture
Management platform leverages its native offensive security technology
and capabilities to widely support customers’ security and business
needs. XSPM incorporates four fundamental pillars tied together with
analytics to provide actionable security posture insights: Attack
Surface Management, Continuous Automated Red Teaming, Breach &
Attack Simulation, and Advanced Purple Teaming. Cymulate’s customers see
their cyber risk reduced by nearly 50% during the first three months
of use. Running daily risk assessments, the cyber risk of Cymulate’s
customers continues to decrease in the first year without any security
drift.
The Series D funding will be used to extend Cymulate’s technological
capabilities and further accelerate its global growth. The Company more
than doubled its ARR in 2021 and grew more than 200% in North America
alone. Cymulate has more than 500 customers globally, including Fortune
500 companies and strategic partners such as Optiv and Wipro. By the
end of this year, Cymulate plans to further expand its staff by 75% to
continue supporting its go-to-market efforts.
“In a market where every business must be prepared to fight advanced
threats, I am proud of our team’s ability to innovate and respond
quickly to the constant turbulence of cybersecurity,” said Eyal Wachsman,
CEO and Co-Founder of Cymulate. “Our funding from existing investors is
a further testament to their confidence in our company, direction, and
continued vision. We look forward to reaching our next innovation
milestones and expanding into new markets across the globe.”
Alongside their Series D funding, Cymulate also recently announced
two C-level executive appointments to bolster the company’s leadership,
namely the appointment of Maria Mastakas as Chief Operating Officer and Carolyn Crandall as Chief Marketing Officer and Chief Security Advocate of Cymulate.
*Gartner, Implement a Continuous Threat Exposure Management (CTEM) Program, July 2022.
GARTNER
is a registered trademark and service mark of Gartner, Inc. and/or its
affiliates in the U.S. and internationally and is used herein with
permission. All rights reserved.
About Cymulate
Cymulate’s SaaS-based Extended Security Posture Management (XSPM)
provides security professionals with the ability to continuously
challenge, validate and optimize their on-premises and cloud
cyber-security posture with visualization end-to-end across the MITRE
ATT&CK® framework. The platform provides automated, expert and
threat intelligence led risk assessments that are simple to deploy and
use for organizations of all cybersecurity maturity levels. It also
provides an open framework to create and automate red and purple teaming
by generating penetration scenarios and advanced attack campaigns
tailored to their unique environments and security policies.
For more information, visit www.cymulate.com.
Register here for a free trial.
About One Peak
One Peak is a leading growth equity firm investing in technology companies in the scale-up phase. One Peak
provides growth capital, operating expertise and access to its
extensive network to exceptional entrepreneurs, with a view to help
transform innovative and rapidly growing businesses into lasting,
category-defining leaders. In addition to Cymulate, One Peak’s
investments include Neo4j, DocPlanner, Spryker Systems, PandaDoc,
Keepit, Paysend, Ardoq, Quentic, HighQ, Coople, DataGuard, Brightflag
and many more.
To learn more, visitwww.onepeak.tech.
SOURCE: Cymulate
Source: www.darkreading.com