As cyber warfare rages on, Cybersixgill closes $35M round

Cybersixgill is one of many companies waging war against increasing cyber threats.

 Cyber attacks spiked in 2021  (photo credit: INGIMAGE)
Cyber attacks spiked in 2021
(photo credit: INGIMAGE)

In a move that exemplifies the growing interest in quality cyber defense, threat intelligence provider Cybersixgill has raised $35 million in Series B funding, bringing the company’s total investment to $56 million. The round was led by More Provident and Pension Funds and REV Venture Partners. Other participating investors include CrowdStrike Falcon Fund, Elron Ventures, SonaeIM and OurCrowd.

“As cybercrime rises faster and the velocity of ransomware attacks increases, the need for accurate and timely threat intelligence has never been greater. Through automation and machine learning, we have built the largest threat intelligence data lake that arms our customers with the earliest signals to stop attacks and secure their overall cybersecurity posture,” said Sharon Wagner, CEO of Cybersixgill.

“We are extremely pleased to be working with world-renowned cybersecurity investors and tech leaders committed to fueling innovation and delivering the best cybersecurity solutions on the market,” said Wagner.

Cybersixgill will use the funds to build on customer momentum, continue its innovation of threat intelligence solutions, expand its global footprint and grow sales and marketing. “We are thrilled to be investing in the outstanding team at Cybersixgill. This financing round will enable them to further strengthen their leading threat intelligence solutions whilst aggressively expanding their customer base,” said Kevin Brown, founder partner at REV.

In the last three years, Cybersixgill has experienced accelerated growth, quadrupling its revenue and doubling its global footprint. The company uses automatic collection and extraction of threat intelligence sourced from social media, instant messaging and clear, deep and dark webs to provide the context needed for customers to implement preemptive security breach responses.

 THE WORLD of cyberattacks has changed in the last year.  (credit: Adi Goldstein/Unsplash) THE WORLD of cyberattacks has changed in the last year. (credit: Adi Goldstein/Unsplash)

Following the onset of the war in Ukraine, which has involved cyber warfare from both the attacking and defending nations, cyber security has become a hot-button topic in the high-tech industry. With countries beginning to utilize the cyber arena more readily, the metaphorical bar has been raised for other parties to stage increasingly nefarious attacks.

“The more aggressive a country is in cyberspace, the more the acceptable level of attacks happening in cyberspace moves up,” said Menny Barzilay, partner at Cytactic and the CTO of the Cyber Research Center at Tel Aviv University.

“Typically, you wouldn't see countries around the world actually disrupting other countries' civilian infrastructure, hurting hospitals, hurting police, and so on,” said Barzilay. “But if this will be done by Russia, it will be another milestone in the transformation of cyberspace to becoming one of the major fronts in war and we will see more such attacks. Some of those attacks might be aimed against Israel as well.”