Cymulate Raises Series A Funding
March 13, 2019- Cymulate, a leading SaaS-based BAS platform, today announced an A funding round of $7.5M led by Vertex Ventures and Dell Technologies Capital, the investment arm of Dell Technologies; additional funds came from Susquehanna Growth Equity (SGE) and Eyal Gruner, who previously led the Seed rounds. The company has now raised $11M total.
Cymulate’s BAS platform enables organizations to automatically assess their overall security posture, continuously validating that security measures and controls are working as expected.
The Cymulate platform is deployable within minutes and the simulated attacks provide immediate results that include vulnerabilities and mitigation procedures to close each gap.
The platform offers the largest range of attack vectors in the industry covering pre- exploitation, exploitation and post-exploitation stages of an attack kill-chain: Email, Web Gateway, Web Application, Phishing, Endpoint, Lateral Movement, Data Exfiltration and Immediate Threats.
Cymulate will use the funding for expanding its operations in the United States, adding key leadership positions and investing further in the research team to enhance the platform’s functionality.
“The fast adoption of our platform by organizations optimizing their protection against attacks has enabled Cymulate to consistently surpass revenue and sales targets with triple growth which permits us now to focus on innovation and outreach,” said Eyal Wachsman, Co-Founder and CEO of Cymulate. “We’ve been very strategic about the amount of funding we’ve raised in this round. This new funding will ensure that we remain ahead of the curve with the best Breach and Attack Simulation platform in the industry, while broadening strategic partnerships as we scale up research and operations to increase market share in 2019 and beyond.”
“We’re impressed with Cymulate’s technology and product market fit which has already resulted in a large customer base,” said Emanuel Timor, General Partner at Vertex Ventures. “Their easy to use SaaS platform is proving invaluable to CISOs by providing insight that helps maximize security investments whilst minimizing security gaps. As cyber attacks such as data exfiltration, email attacks and phishing continue to be of prime concern to companies, we believe Cymulate has the potential to be the leading BAS company.
“Enabling data-driven decisions for cyber security implementations and investments is critical for organizations of all sizes. We believe Cymulate is taking the right approach and has built the right end-to-end platform to enable this vision at scale.” said Alon Weinberg, Director at Dell Technologies Capital. “Looking ahead, we are very pleased to be able to support Cymulate and help build the company wider vision.”
Cymulate was founded in June 2016 by cyber security veterans Avihai Ben-Yossef and Eyal Wachsman, alongside Eyal Gruner, a serial entrepreneur and investor in cybersecurity startups. In less than three years, Cymulate has successfully launched its technology in key markets across all industry verticals, with customers in North America, Europe, Asia, and Australia.
In 2018, Cymulate was recognized as a Cool Vendor in Application and Data Security by Gartner.* In addition, Cymulate was distinguished in 2018 with the Gold Global Excellence Award from Info Security Products Guide, the Fortress Cyber Security Award, and Winner of the InfoSec Awards from the Cyber Defense Magazine.
Cymulate helps companies to stay one step ahead of cyber attackers with a unique breach and attack simulation platform that empowers organizations with complex security solutions to safeguard their business-critical assets. By mimicking the myriad of strategies hackers deploy, the system allows businesses to assess their true preparedness to handle cyber security threats effectively. For more information, visit www.cymulate.com and register for a Free Trial.
About Dell Technologies Capital
Dell Technologies Capital is the investment arm for Dell Technologies. We’ve invested in over 100 companies that push the envelope on digital technology for enterprises and consumers. We are a team of world-class investors who help our companies succeed. We focus on early-stage investments with passionate founders and often lead rounds. Our companies gain unique access to the go-to-market capabilities of Dell Technologies.
Dell Technologies is the parent company of Dell, Dell EMC, Pivotal, RSA, Secureworks, Virtustream, and VMWare. Dell Technologies is a unique family of businesses that provides the essential infrastructure for organizations to build their digital future, transform IT and protect their most important asset, information.
About Vertex Ventures
Vertex Ventures is a leading global venture capital group supporting entrepreneurs to transform their innovative ideas into world-class businesses. With cumulative committed capital in excess of $2.5 billion, Vertex invests in early-stage IT and healthcare opportunities in Silicon Valley, China, India, Israel, and Southeast Asia. Since 1988, Vertex is honored to have partnered with the founders of global leaders such as Waze, 91, Grab, IGG, CyberArk, Reebonz, SolarEdge, Force10, FirstCry, Yatra and Changba. Vertex Ventures Israel is one of the pillars of the Vertex Group’s network of Funds focusing on early stage opportunities in the Information Technology sector in Israel. Learn more here.
*Gartner, Cool Vendors in Application and Data Security, 4 May 2018
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Read the full press release here.