Cybersecurity platform Cynet closes $13m Series B

Cynet, an enterprise-grade cybersecurity platform, has raised $13m in Series B funding.

The round was led by Norwest Venture Partners, serial cyber investor Shlomo Kramer and returning investor Ibex Investors. It intends to use the funds to bolster growth and keep accelerating development.

“Almost all cybersecurity solutions are built to address one vertical in the complex enterprise defense architecture,” said Dror Nahumi, general partner at Norwest Venture Partners. “However, small to medium size enterprises do not have the resources to define, select, integrate and manage dozens of products from different vendors. We are impressed with Cynet’s vision and proven customer success to enable a complete defense solution from a single platform, addressing this huge market demand.”

Based in NYC and Rishon Lezion, Israel, Cynet provides a single enterprise-grade solution, which it claims meets all security needs. The Cynet 360 cybersecurity platform is targeted at both large and small companies, and it seeks to enable them to protect, prevent, detect, and remediate any threat or attack on an internal network. It claims to get rid of need to expend time and energy managing multiple technologies.

Cynet 360 covers thousands of endpoints in minutes, with no installation and minimal investment of time and resources. Providing visibility across the internal network, the company protects against attacks including ransomware, malware, insider threats and other previously unknown threats.

“Cynet brings to market a solution which is truly levelling the playing field for businesses looking to protect the internal network,” said Kramer. “For the first time, any size organization can implement the same grade security as large enterprise organizations, regardless of their size and regardless of limited resources or budget. The Cynet 360 platform saves organizations time, manpower and money, while giving them the backing of frontline protection, detection and response, as well as Cynet’s 24/7 expert SOC.”

Earlier this month, Norwest Venture Partners took part in Agari’s $40m Series E round, which was led by Goldman Sachs Growth Equity.

The company’s Enterprise Protect claims to protect employees from costly inbound identity-based impersonation attacks and fraud, will benefit from new innovations including account takeover and breach remediation.

Copyright © 2018 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.