XM Cyber, a Herzliya, Israel-based startup that developed the first fully automated APT simulation and remediation platform, has raised $22 million in Series A funding. Macquarie Capital, Nasdaq Ventures, Our Innovation Fund, LP, UST Global, and several others participated in this round.
XM Cyber has now raised a total of $32 million. And with this round of funding, XM Cyber plans to accelerate its growth by expanding upon sales, marketing, and engineering.
“In this era of hyper-sophisticated cybercrime, our solution demonstrates that organizations should be asking themselves ‘Are my critical assets really secure?’ as there is a plethora of ways hackers can compromise them,” said XM Cyber CEO and co-founder Noam Erez. “2018 has been an incredible year for XM Cyber, and this funding round will help us expand our footprint in 2019. We are grateful to our investors for this vote of confidence and look forward to their continued strong support.”
Often times, hackers can still take over networks even if modern security controls are deployed in a variety of ways. Hackers able to capitalize on human mistakes like faulty security practices.
XM’s HaXM service is able to continuously leverage a number of offensive methods to expose critical blind spots and cover hidden attack vectors. Then XM provides data-driven remediation focused on the organization’s critical assets, which reduces the company’s IT risk and enables it to optimize its cyber resources.
“As cyber-threats continue to evolve, we believe XM Cyber is addressing an important need, particularly for financial services and market infrastructure companies,” added Nasdaq Ventures head Gary Offner. “We believe our investment in XM Cyber will help continue new developments in advancing breach simulation and detection technology and processes. This is an important, developing area of cyber security innovation and we’re pleased to be supporting its growth and expansion.”