27 November 2019:
Cymulate has raised $15 million in Series b round of funding. The funding round was led by Vertex Growth Fund.
The investment arm of Vertex Ventures Israel, Dell Technologies Capital and Susquehanna Growth Equity (SGE) also participated in the funding round.
The company will use the fresh capital to fuel further growth in the US, expanding sales, marketing and operational support to broaden the customer base. The company plans to broaden its approach beyond BAS by offering end-to-end security testing platform for the entire digital estate of organizations, incorporating on-prem, cloud , IoT and beyond.
Tam Hock Chuan, Managing Director of Vertex Growth, said, “Within the new and exciting Automated Breach and Attack Simulation space, Cymulate’s solution stands out as highly intuitive and comprehensive. The platform’s ability to effectively test the security controls of a company’s networks allows CISOs to easily assess their cybersecurity posture anytime and automatically, something that companies serious about cybersecurity will readily appreciate. We look forward to working with Cymulate to expand its innovative solution globally.”
Eyal Wachsman, CEO, Cymulate, said, “Our simple and automated approach to security testing is quickly gaining ground with companies of all sizes due to its ease of use and its ability to optimize the ever-changing IT security environment at any given moment. We’ve enjoyed an exceptionally strong growth period during the past few months and we therefore decided to pre-empt with another round of funding shortly after our Series A in order to leverage on the strong market adoption with additional resources to accelerate our expansion.”
Eyal Wachsman, added, “We’re delighted that Vertex Growth has joined as an investor and that our recent success has been recognized by our current funding partners who continue to show their commitment and belief in our technology.”
Cymulate is a SaaS-based breach and attack simulation platform that makes it simple to know and optimize your security posture any time, all the time and empowers companies to safeguard their business-critical assets.
(Image – Cymulate)