Cybersecurity platform XM Cybera closes $22m Series A

XM Cybera provider of automated APT simulation and remediation, has closed its Series A round on $22m.

The capital injection was supplied by Macquarie Capital, Nasdaq Ventures, Our Innovation Fund, and UST Global, among a number of other disclosed backers. Following this investment, the company has pulled in a total of $32m, with Swarth Group previously investing $10m to the company through a seed round.

XM delivers an automated APT simulation platform to continuously expose attack vectors on all fronts from breach point to any organisational critical assets. The HaXM model is constantly launching offensive models on systems to help find blind spots and reveal any hidden weaknesses in infrastructure.

Data is then provided around critical assets to help lower IT risk and ensure optimisation of cyber resources.

The platform’s clients include a number of financial institutions and critical infrastructure organisations across North America, Europe, Israel and Australia.

As part of the deal, UST Global has made a strategic sales and integration agreement for its CyberProof solution. This is the managed security services subsidiary of UST and XM will help to manage cyber risks as a measured outcome.

With this burst of funding, the company is looking to further its growth through boosted sales, marketing and engineering programs.

CEO and Co-Founder XM Cyber Noam Erez said. “In this era of hyper-sophisticated cybercrime, our solution demonstrates that organizations should be asking themselves ‘Are my critical assets really secure?’ as there is a plethora of ways hackers can compromise them.

“2018 has been an incredible year for XM Cyber, and this funding round will help us expand our footprint in 2019. We are grateful to our investors for this vote of confidence and look forward to their continued strong support.”

Copyright © 2018 FinTech Global

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