Cymulate, a Rishon LeZion, Israel-based breach and attack simulation (BAS) platform, announced it raised $7.5 million in Series A funding led by Vertex Ventures and Dell Technologies Capital — which is the investment arm of Dell Technologies. Additional funds were provided by Susquehanna Growth Equity (SGE) and Eyal Gruner — who previously led the seed rounds. Including this round, Cymulate has raised $11 million total.
Cymulate’s BAS platform enables companies to automatically assess their overall security posture and continuously validate that security measures and controls are working as they are supposed to.
“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 Cymulate CEO and co-founder Eyal Wachsman in a statement. “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.”
The Cymulate platform can be deployed within minutes and the simulated attacks provide immediate results that include vulnerabilities and mitigation procedures for closing each gap. Plus 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 including email, web gateway, web application, phishing, endpoint, lateral movement, data exfiltration and immediate threats.
Cymulate will be using the funding for expanding its operations in the U.S. along with adding key leadership positions and investing further in the research team to enhance the platform’s functionality.
“We’re impressed with Cymulate’s technology and product market fit which has already resulted in a large customer base,” added Vertex Ventures general partner Emanuel Timor. “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.”
Founded in 2016 by cyber security veterans Avihai Ben-Yossef and Wachsman along with serial entrepreneur and investor Eyal Gruner, Cymulate successfully launched its technology in key markets across all industry verticals within three years. The company has customers in North America, Europe, Asia, and Australia.
“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.” explained Dell Technologies Capital director Alon Weinberg. “Looking ahead, we are very pleased to be able to support Cymulate and help build the company wider vision.”
