The investment will be used to expand Cymulate’s U.S. operations and to enhance its platform’s functionality.
Israel-based cybersecurity firm, Cymulate Ltd. has recently raised around $7.5 million in a Series A financing round led by Dell Technologies Capital and Vertex Ventures along with the participation of Eyal Gruner and Susquehanna Growth Equity (SGE), who earlier led the Seed rounds.
Sources cite that the investment will bring Cymulate’s total raised value to $11 million, and will be used to expand its U.S. operations, add key leadership positions and to invest in its research team to enhance the platform's functionality.
For the record, Cymulate's BAS (breach and attack simulation) platform helps organizations to automatically assess their complete security posture by continuously monitoring security measures and controls functions as expected. The Cymulate platform can be deployed quickly while its simulated attacks offer immediate results that include mitigation and vulnerabilities procedures to close each gap.
Commenting in a press release, Eyal Wachsman, CEO & Co-Founder, Cymulate, said the rapid adoption of its platform has enabled Cymulate to constantly surpass sales and revenue targets with triple growth which allows it to focus on innovation and outreach.
He said that the new funding will help Cymulate remain ahead of the curve with the best BAS platform in the industry, and further help broaden strategic partnerships as it scales up research and operations to increase market share in 2019 and beyond.
Pleased with Cymulate’s technology, Emanuel Timor, General Partner, Vertex Ventures, said that Cymulate's easy to use SaaS platform is proving to be helpful to CISOs by offering insights that help maximize security investments whilst lessening security gaps. He said that the company believes Cymulate to have the potential to be the leading BAS provider, as cyber-attacks continue to be a prime concern to companies worldwide.
For the record, Cymulate, founded in 2016, has successfully introduced its technology in several key markets across all industry sectors, with customers in Europe, North America, Asia and Australia.