- Vulcan Cyber has raised $10 million in Series A funding from Ten Eleven Ventures and YL Ventures
- Including this round, Vulcan Cyber has raised $14 million since it exited stealth a year ago
Vulcan Cyber announced recently that it raised $10 million in Series A funding from Ten Eleven Ventures and original seed backer YL Ventures. This round of funding will enable the company to continue its mission to help enterprises close the cybersecurity vulnerability remediation gap. And the company is planning to expand commercial operations in North America and grow development and support capabilities.
What is the vulnerability remediation gap? It is the amount of time from initial discovery and reporting until enterprise organizations actually deploy a fix to remediate the risk. Often times, this can span months to over a year. And as enterprises work to prioritize security vulnerabilities, they are constantly plagued by the logistics and management challenges of coordinating teams to execute remediation tasks at scale while also ensuring business continuity.
“IT leadership can no longer rely upon disparate internal resources and legacy processes to comprehend and act upon knowledge of vulnerabilities and other threat intelligence,” said Vulcan Cyber CEO and co-founder Yaniv Bar-Dayan. “Only continuous, collaborative, automated remediation, as offered by Vulcan, can close the vulnerability gap, at scale, across today’s cyber threat landscape.”
The Vulcan Cyber Platform essentially controls and orchestrates Security, DevOps, and IT tasks and tools thus allowing enterprises to automate and scale their vulnerability remediation processes. And Vulcan Cyber’s Subjective Prioritization Engine ranks vulnerabilities based on true and unique risk to the enterprise by correlating asset data, security assessment results, and threat intelligence. This approach enables teams to focus on the most critical vulnerabilities predicted to be most likely exploited in their digital networks.
“Vulcan’s journey is one of the most amazing ones in my experience. After a year spent learning the particulars of the vulnerability remediation challenge from over one hundred US enterprises, Vulcan is already revolutionizing the way customers operate. Vulcan enables customers to remediate cyber risk at speed and scale never seen before. YL Ventures is thrilled to partner with Ten Eleven Ventures and continue supporting Vulcan’s expansion in the U.S.,” noted YL Ventures partner Ofer Schreiber.
Plus the Vulcan Cyber Platform further advances the rapid resolution of known vulnerabilities by enriching vulnerability data with its comprehensive remediation intelligence feed that combines vulnerability knowledge with remediation actions like patches, workarounds, and different compensating controls which can be applied automatically through already deployed IT, DevOps, and security tools. This combination of capabilities allows Vulcan to provide its customers with unprecedented risk reduction capabilities.
Cloud data warehouse company Snowflake experienced value from the Vulcan platform firsthand. Within a month of deployment, Snowflake teams were able to remediate more than 40% of the known vulnerabilities found within one of their core environments.
“Vulcan results exceeded our best expectation. After the Vulcan team had quickly set the platform up on top of our Snowflake data warehouse, we started seeing value immediately,” explained Mario Duarte — the VP of Security at Snowflake. “Vulcan digested the data from our vulnerability scanners and cloud infrastructure and was able to find our blind spots rapidly, prioritize the most critical vulnerabilities in our specific environment, and offer ‘click-of-a-button’ remediation solutions for our DevSecOps teams. In record time Vulcan reduced friction among teams and provided the tools and confidence to automate the remediation process and resolve a significant number of vulnerabilities.”
Including this round, Vulcan Cyber has raised a total of $14 million since it exited stealth mode a year ago. In conjunction with this round of funding, Ten Eleven Ventures general partner Mark Hatfield has joined the Vulcan board. And Glenn Chisholm (former CTO of Cylance and co-founder and CEO of Obsidian Security) has joined as an investor in the company.
“Ten Eleven Ventures focuses exclusively on helping cybersecurity companies thrive and we’re excited to do exactly that with Vulcan,” added Hatfield. “We chose to invest in Vulcan Cyber because the company is uniquely positioned to plug the enterprise organization remediation gap by automating vulnerability triage and coordinating an orchestrated response to known and emerging vulnerabilities across organizational boundaries.”
