Women are proportionally under-represented in Israeli hi-tech, but information has emerged suggesting that a mix of males and females leads to more creative business management.
At the same time, the world of cybersecurity is only getting more complicated, and Israeli companies are consistently seeking new ways to safeguard digital data of corporations and consumers. Cymulate is a cybersecurity company that has recently addressed both these issues by appointing two women to executive-level positions. It has also developed a cybersecurity platform that has garnered the interest of investors to the tune of a $70 million Series D funding round.
A lack of women
According to a report earlier this year from research organization Power in Diversity, women in cybersecurity jobs make up 27% of the workers in the industry. According to (ISC)2, a cybersecurity talent training nonprofit, the number is closer to 24%.
“It’s no secret that women are under-represented across the cybersecurity industry,” said Carolyn Crandall, Cymulate’s recently-appointed CMO and chief security advocate. She was appointed to her position earlier this year alongside the company’s new COO, Maria Mastakas.
Crandall explained that the appointment was a result of recent diversity and inclusion efforts, whose impact has begun to show.
“My team at Cymulate is 73% female. This was achieved through the creation of an attractive environment for women; one in which they can see there is equal opportunity for them to build their capabilities on the job and create rewarding futures for themselves,” she said.
Crandall also challenged companies to do what’s possible to create an environment in which women executives will feel positive about working.
“Creating a welcoming and learning workplace culture will also help attract more women to pursue cybersecurity career paths. Companies with skills development and mentorship programs will be instrumental for building leadership skills and decision support for our next generation of female security executives,” she said.
Companies with skills development and mentorship programs will be instrumental for building leadership skills and decision support for our next generation of female security executives.”Carolyn Crandall
Making good money
Statistics-defying executive appointments aside, Cymulate is also operating in the field of extended security posture management, allowing its clients to use automation to continuously validate their cyber threat exposure by testing their cloud and on-premise networks against the latest known threats.
The company’s service has smitten investors and clients alike. Cymulate has grown by more than 200% in North America alone. It has more than 500 customers globally, including Fortune 500 companies and strategic partners such as Optiv and Wipro. Cymulate closed that successful $70m. round just this week.
“Our funding from existing investors is a further testament to their confidence in our company, direction, and continued vision. We look forward to reaching our next innovation milestones and expanding into new markets across the globe,” said Eyal Wachsman, CEO and co-founder of Cymulate.
Led by existing investors One Peak and with contribution from Susquehanna Growth Equity, Vertex Ventures Israel, Vertex Growth and Dell Technologies Capital, Cymulate’s total investment has reached $141m. to date. The latest funding will be used to extend the start-up’s technological capabilities and further accelerate its global growth. By the end of this year, it plans to expand its staff by 75% to continue supporting its go-to-market efforts.
“We are thrilled to lead this round of investment in Cymulate,” said David Klein, managing partner of One Peak. “Cyber posture management and continuous security validation have dramatically increased in popularity in response to the onslaught of ransomware and cyberwarfare for businesses across all size ranges. Cymulate is the clear leader in the sector, and we look forward to continuing to support the company in further accelerating its already strong growth trajectory.”