Cytactic, a platform pioneering cyber crisis readiness and management, announced a $16 million seed funding round led by cybersecurity venture capital fund Evolution Equity Partners.
Businesses are challenged with fortifying their defenses against cyber threats, recognizing the widespread impact and complexity of such crises. But studies show that most companies are not resilient in case of a cyber crisis. This is where Cytactic comes in.
Cytactic’s platform surfaced as a response to the devastating losses experienced by numerous organizations due to cyber incidents. And many of them are a direct result of poor synchronization with stakeholders, inadequate information flow, complex decision-making processes when rapid response is required, the involvement of numerous stakeholders, etc.
Cytactic – which is a SaaS platform is an innovation-forward and intuitive solution that consolidates crisis readiness, response, and recovery tailored to versatile business profiles and risk landscapes. Plus, it empowers organizations to handle the mounting threat to their business in case of a cyber crisis with a simplified, orchestrated, step-by-step methodology involving all relevant stakeholders and roles.
KEY QUOTES:
“The increasing complexity in preparing for, managing, and recovering from a cyber incident has become more painful and difficult to overcome than ever before. It is no longer enough to know how to technically investigate and respond to a crisis with an incident response team. Cross-organizational action involving multiple stakeholders is required, making managing and navigating crises successfully even more difficult.”
- Yuval Ben-Itzhak, General Partner at Evolution Equity Partners
“Cytactic’s team’s accomplishments in successfully managing multiple crises clearly addresses a crucial and very much ‘now’ cybersecurity market need. We are proud to partner with Evolution Equity Partners. Given the strong demand, this investment will enable us to scale globally and expand our network of strong professional partnerships.”
- Cytactic founder and CEO Dr. Nimrod Kozlovski
“Cytactic’s unique solution will offer our global insurance company a much better way to manage claims. As a global broker managing hundreds of claims annually, we are always seeking innovation. We found Cytactic to be a perfect match.”
- Shay Simkin, Global Head of Cyber for Howden
“In 2024, the rules are clear: cyber-attacks are inevitable. Readiness and crisis management are the core components of the 10x factor for the next decade. We sought a solution that offered personalized, actionable guidelines and unparalleled visibility into our cyber crisis readiness for all stakeholders. In Cytactic, we found everything we needed: tailored tabletops and playbooks, domain-relevant communication that is clear and effective, and simplicity in the midst of chaos.”
- Lior Barash, CISO, Cognyte
