Today (Monday) Cynet, the company that developed an autonomous breach protection platform against cyber-attacks, raised $18 million as part of a Series B+ round. The investment was led by TIP (Telekom Innovation Pool), Deutche Telekom’s strategic fund, with participation from Blue Red Partner, Merlin International, Norwest Venture Partners, and Ibex Investors.
No need for massive budgets or a huge team
The Israeli cyber-security startup provides organizations with an autonomous breach protection platform that is not dependent on massive budgets or a huge team behind them, which is great for SME (small-medium enterprises) who run on limited finances. The cyber-security platform protects against cyber-attacks coming from organizations’ internal networks and it’s based on 3 core capabilities: The first - uniting various cyber-security technologies that identify and contain different threats and attacks; The second - autonomous capabilities that detail each threat and remove it independently; The third - is made up if a SOC security team that continuously monitors the customer’s network and if need be, intervenes and immediately supports the customer.
According to the company, these 3 capabilities make Cynet’s product more relevant than ever for organizations of all sizes. The startup’s main goal is to remove the need for organizations to purchase numerous security solutions, combine them, and hire a large data-security team to manage them. The platform, Cynet 360, leverages technology that is easily integrated over numerous endpoints in a little less than 2 hours. Along with containing real-time attacks, the platform also provides an immediate remote response to attacks that have already taken place.
In a conversation with Geektime, CEO and co-founder Eyal Gruner tells that while most data-security companies develop specific solutions that need to be pooled together for optimal organization protection, he explains that Cynet has more ambitious aspirations in mind: “We developed one solution that can be substituted for all the different security solutions organizations currently use (like products for endpoint protection, products that monitor network activity and others). Our goal is to allow any organization, big or small, the same protection that Fortune 500 companies deploy, with their enormous budgets and huge teams of reliable talent on-hand.”
According to Gruner, the company’s product rivals the much larger enterprises’ data-security solutions, like that of Palo Alto Networks, which also developed a one-stop-shop breach protection platform based on technology from Israeli startups that were acquired by the Californian cyber-security giant.
Cynet was founded in 2015 by Eyal Gruner and employs over 100 people split between two Israeli offices, Boston, and London. The current investment round brings the company’s total capital to $40 million.