Cyware, a leading entity in the AI-driven Cyber Fusion platforms and automated threat intelligence sharing realm, has secured £30m in a Series C funding round.
The funding round was led by Ten Eleven Ventures, an investment firm with expertise in cyber security. Several existing investors also joined in, including Advent International, Zscaler, Emerald Development Managers, Prelude, the venture division at Mercato Partners, and Great Road Holdings. This funding round coincides with a period of significant growth for Cyware, indicated by impressive market adoption, customer retention, and expansive market access.
Cyware, at its core, operates a cloud-based platform that is extensively used by top Fortune 1000 security teams and MSSPs (Managed Security Service Providers) to transform their traditional SOCs (Security Operation Centres) into Cyber Fusion Centres. The platform utilises AI-powered threat intelligence platform (TIP) with data orchestration and workflow automation (SOAR), enabling correlation of actionable threat intelligence with detection, threat hunting, vulnerability management, and incident response operations.
The company intends to use the new funds to accelerate its growth, focus on its channel business and strategic alliances, and to extend its global footprint.
Additional highlights from Cyware’s journey include achieving a FedRAMP Ready status for its Cyber Fusion platform, being named one of the most innovative and promising cybersecurity companies by JMP Cyber 66, and recognition in the 2022 Deloitte Technology Fast 500 as one of the Fastest Growing Technology Firms in North America.
Cyware CEO and Co-founder Anuj Goel said, “Security teams today face an overwhelming amount of data, but silos across data, processes, and technologies make it very challenging to see the bigger picture and proactively stop threats. Our mission at Cyware is to break down these silos, integrate threat intelligence into SOC operations, make it easy for teams to automate response, and act immediately to anticipate and stop threats.”
Alex Doll, Founder and Managing Member of Ten Eleven Ventures, also added his perspective, “Threat actors thrive because the rest of us don’t collaborate enough. Only Cyware allows overstretched security teams to expand their risk visibility beyond their borders with innovative threat intelligence collaboration while dramatically improving response with vendor-agnostic orchestration and low-code automation.”
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