Cydarm said to raise $500,000 in funding led by Right Click

Cybersecurity platform Cydarm has reportedly raised $500,000 in a funding round led by Right Click Capital.

This equity burst will be used to further Cydarm’s development of its technology and scaling its operations, according to a report from startup daily. Alongside this, the company is hoping to expand across Australia and internationally, it said.

Australia-based Cydarm provides enterprises with a cybersecurity solution which can be integrated with their existing systems via APIs. The technology gives clients the capabilities to track the status, priority, assignee, metadata and events related to each incident, as well as reviewing tools on previous cases.

Alongside this, the solution automatically gathers context to eliminate repetitive work and perform incident triage quicker.

Other offerings include compliance support, outsourcing, access control, SOC management, and controlled disclosure. Through machine learning technology, Cydarm is able to automatically track actions of incident responders and establish models which distinguish real-attacks from false alarms, and then set priories.

There has been a lot of activity in the fundraising market for cybersecurity companies this month.

Last week, automated APT simulation and remediation solution XM Cybera completed a Series A round on $22m. XM delivers an automated APT simulation platform to continuously expose attack vectors on all fronts from breach point to any organisational critical assets.

Other cybersecurity companies to close investments last week included Conigo’s $8.5m Series A, Dragos’ $37m Series B and 4iQ’s $18m round.

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.