Israeli cybersecurity company Cymulate raises $70m

Israeli cybersecurity company Cymulate today announced the completion of a $70 million Series D financing round led by existing investors One Peak, together with Susquehanna Growth Equity (SGE), Vertex Ventures Israel, Vertex Growth and Dell Technologies Capital. This brings to $141 million, the total amount raised by Cymulate to date.

Tel Aviv-based Cymulate provides SaaS-based Extended Security Posture Management (XSPM) that gives security professionals the ability to continuously challenge, validate and optimize their on-premises and cloud cybersecurity with visualization end-to-end across the miter-attack framework. The platform provides automated, expert and threat intelligence-led risk assessments that are simple to deploy and use for organizations of all cybersecurity maturity levels. It also provides an open framework to create and automate red and purple teaming by generating penetration scenarios and advanced attack campaigns tailored to their environments and security policies.

The latest funding will be used to extend Cymulate's technological capabilities and speed up global growth. The company more than doubled its annual recurring revenue (ARR) in 2021 and grew more than 200% in North America alone. Cymulate has more than 500 customers globally, including Fortune 500 companies and strategic partners such as Optiv and Wipro. By the end of 2022, Cymulate plans to increase its workforce by 75% to continue expanding its marketing efforts.

Cymulate was founded in 2016 by CTO Avihai Ben-Yossef, CEO Eyal Wachsman, and Eyal Gruner, a serial entrepreneur and investor in cybersecurity startups.

Wachsman said, "In a market where every business must be prepared to fight advanced threats, I am proud of our team's ability to innovate and respond quickly to the constant turbulence of cybersecurity. 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."