Israeli cybersecurity startup Cynet, the world’s first autonomous XDR, platform, announced on Wednesday that it has raised a $40 million Series C funding round.
The round was led by Greenfield Partners, with participation from existing investors Norwest Venture Partners, Vintage Investment Partners, BlueRed Partners, and Deutsche Telekom.
Founded in 2015, the Tel Aviv-based firm has created the world’s first platform, Cynet360 that natively integrates XDR prevention and detection capabilities with automated investigation and remediation.
XDR collects and automatically correlates data across multiple security layers – email, endpoint, server, cloud workloads, and network.
The investment will be used to meet the demand for Cynet’s platform from companies of all sizes, including those with small security teams in need of more holistic and efficient cyber solutions.
Cynet also announced that recognized cybersecurity researcher Chris Roberts is joining the company in the role of Chief Security Strategist.
“I empathize with security teams stationed in resource-constrained organizations that are struggling to protect their people and companies from the continuous barrage of digital threats,” said Roberts. “I look forward to working with these clients to develop and implement enterprise-grade defense and risk reduction techniques using a combination of pragmatic operational practices and modern, integrated technologies such as Cynet’s automated, consolidated protection platform.”
“The massive surge in interest and demand for Cynet’s offering confirms that organizations of all sizes need intuitive and affordable approaches to cybersecurity,” said Avery Schwartz, partner at Greenfield Partners. “Cynet proves that effective breach protection doesn’t have to be costly and complex by simplifying, consolidating and automating the critical technologies required to protect against modern-day threats.”
“Cynet has experienced exponential growth by solving a real problem, eliminating the complexity involved with effective cybersecurity,” said Eyal Gruner, co-Founder and CEO of Cynet. “This round of financing will allow us to expand our team to meet client and market demand.”