Israeli cybersecurity startup Cymulate, a SaaS-based breach and attack simulation (BAS) platform, announced Tuesday it has raised $15 million in a Series B funding round led by Vertex Growth Fund, a global growth-stage investment fund.
Participants of the round include existing investment partners like the investment arm of Vertex Ventures Israel, Dell Technologies Capital, and Susquehanna Growth Equity (SGE).
Get our weekly newsletter directly in your inbox!Sign up
The Rishon Lezion-based company has raised $26 million to date. Along with this Series B round, they also raised $7.5 million in Series A funding in March.
The infusion of capital will be used to accelerate further growth in the US, expand sales, provide marketing and operational support to broaden the customer base, and broaden the company’s approach beyond BAS by offering an end-to-end security testing platform for an entire digital estate of organizations.
Founded in 2016 by Avihai Ben-Yossef and Eyal Wachsman, who are veterans of the cybersecurity industry, along with entrepreneur and investor Eyal Gruner, Cymulate plays a critical role in empowering organizations to automatically assess and improve their security. The company currently has employees in the US, Israel, Madrid, and London.
“Our simple and automated approach to security testing is quickly gaining ground with companies of all sizes due to its ease of use and its ability to optimize the ever-changing IT security environment at any given moment,” says Wachsman, also the company’s CEO.
“Within the new and exciting Automated Breach and Attack Simulation space, Cymulate’s solution stands out as highly intuitive and comprehensive. The platform’s ability to effectively test the security controls of a company’s networks allows CISOs to easily assess their cybersecurity posture anytime and automatically, something that companies serious about cybersecurity will readily appreciate”, adds Tam Hock Chuan, managing director of Vertex Growth.