Australia-based Cydarm scores $3m funding

Australia-based CyberTech platform Cydarm has reportedly collected a $3m investment.

The round was led by InterValley Ventures, an Australian investment firm, with contributions also coming from Right Click Capital and Fire V Capital, according to a report from ITWire.

With the funds, the CyberTech company plans to bolster its platform with further integration and automation features. To support this, the company plans to hire more staff.

Cydarm offers case management solutions for cybersecurity operations. Its platform, which can be integrated with APIs, enables collaboration for incident response teams and improve cybersecurity investment decisions.

InterValley Ventures general partner Simon Wright told ITWire, “We saw Cydarm as clearly innovating in the internationally important area of cybersecurity.

“As such Cydarm represented a perfect addition to our portfolio where are wanting to focus on disruptive business models that address problems of global importance. We also saw it as a notable example of Australian innovation.”

The company previously raised $500,000 in a funding round back in 2018. The capital infusion was supplied by Right Click Capital and others.

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