Vicarius, a pioneer in the cybersecurity sector, has secured a substantial $30m in Series B funding.
This financial injection is spearheaded by the cybersecurity-focused investment firm Bright Pixel, previously known as Sonae IM. Noteworthy contributors to this round include AllegisCyber Capital, AlleyCorp, and Strait, marking a robust vote of confidence in Vicarius’s vision and capabilities. To date, Vicarius’s total capital raised, encompassing contributions from prior backers such as JVP, has surpassed the $56m mark.
At its core, Vicarius is dedicated to transforming the landscape of cybersecurity. The company is the brain behind vRx, the industry’s first fully autonomous end-to-end vulnerability remediation platform. This groundbreaking solution is tailored to proactively mitigate cyber risks for businesses by automating the complex process of vulnerability remediation. Vicarius’s platform is celebrated for its user-friendly interface, catering to both novices and seasoned professionals in cybersecurity. This ease of use, combined with the platform’s advanced capabilities, sets Vicarius apart in an increasingly digital and risk-prone business world.
The newly acquired funds are earmarked for a dual purpose: fuelling Vicarius’s global expansion ambitions and accelerating the evolution of its AI capabilities. In a rapidly growing vulnerability management market, projected to reach upwards of $21bn by 2028, Vicarius aims to stand at the forefront, driving innovation and offering solutions that resonate with the pressing needs of modern enterprises.
Further embellishing Vicarius’s narrative of growth and innovation is the introduction of vuln_GPT, the company’s proprietary LLM technology. This advanced feature is designed to craft detection and remediation scripts, thereby heralding a new era of assistive technology for security teams. Vicarius’s journey since its last funding round in 2022 is nothing short of impressive, marked by a record-setting 5x growth, driven by surging customer demand for a comprehensive, personalised, and scalable vulnerability remediation process. Today, the company boasts a robust customer base exceeding 400, including prominent global entities like PepsiCo, Hewlett Packard Enterprise (HPE), Bupa, and Equinix, along with a significant presence in the Fortune 500 realm.
Reflecting on the strategic partnership and the company’s vision, Vicarius CEO Michael Assraf articulated, “We are immensely excited to partner with the Bright Pixel team. Their wealth of experience will help us grow our company to the next level.
“Vicarius is best positioned to take on the much-needed task of transforming the vulnerability management market from assessment to remediation. We are committed to growth and have been hard at work creating solutions that will be flexible to the changing AI landscape, all while staying core to our mission of protecting our customers from vulnerabilities.”
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