- Digital risk management leader CybelAngel announced it has raised $36 million in Series B funding led by Prime Ventures
Digital risk management leader CybelAngel announced it has raised $36 million in Series B funding from several U.S.-based entrepreneurs and a consortium of European venture capital firms. Prime Ventures led the round alongside Tempocap with participation from Bpifrance and Open CNP. And Datadog Co-Founder and CEO Olivier Pomel, Datadog Co-Founder and CTO Alexis Le-Quoc, Tenable Co-Founder and CTO Renaud Deraison, former Black Duck Software CEO Lou Shipley, Neolane Co-Founder and former CEO Stephan Dietrich also joined the round.
With this round of funding, the company will use the investment to accelerate global expansion, build strategic partnerships, and advance the capabilities of its unique AI-powered technology platform. And with the addition of the new Series B round, CybelAngel has received a total of $52 million in funding to date.
In connection with this funding round, CybelAngel also announced that Prime Ventures partner Pieter Welten has joined the company’s Board of Directors.
“CybelAngel’s technology is a must-have in every CIO’s cybersecurity posture. Their solution has already been successful at saving customers billions of dollars’ worth of potential damage from data leaks. We see an expansive global opportunity in CybelAngel, and we are excited to help them grow,” said Welten.
The enterprise data is now shared on more third-party platforms than ever before. And in data centers, on the cloud, on connected or IoT devices, and among contractors and vendors, the threat of critical data leaks beyond a company’s firewall grows every day. And The World Economic Forum’s Global Risks Report 2019 ranks data theft and cyberattacks among its top five global risks with an estimated cost of $90 trillion if cybersecurity efforts do not keep pace with technological change. Plus the detection of unprotected and at-risk data is now an essential part of cyber-resilience due diligence frameworks.
“The acceleration of digital transformation and the proliferation of connected devices has created an explosion of both malicious and negligent risks,” explained Erwan Keraudy, CEO and co-founder CybelAngel. “This funding enables CybelAngel to expand globally to more countries and continue to innovate to protect enterprises’ most critical digital assets from costly data leaks. It will also support our expansion in North America where the demand for digital supply chain protection and third-party risk management is growing exponentially.”
CybelAngel detects over one billion documents per day and uses artificial intelligence to assess the sensitivity of the information it finds. And the company’s platform helps enterprises manage digital risk in real time by providing relevant and actionable data thus enabling effective remediation and takedown. Plus CybelAngel empowers organizations to protect their intellectual property, brand, and reputation with a solution that complies with global regulatory requirements.
“CybelAngel is the most cutting-edge digital risk management platform known today, and the continuous innovations they bring are helping us monitor and protect our assets proactively,” added Jean-Yves Poichotte, a CybelAngel customer and Global Head of ITS Cyber Security at Sanofi, a global biopharmaceutical company.