SaaS-based Breach and Attack Simulation (BAS) startup Cymulate announced on Tuesday that it has raised $15 million in a Series B funding round.
The round was led by Vertex Growth Fund with participation from other existing investing partners, including the investment arm of Vertex Ventures Israel, Dell Technologies Capital and Susquehanna Growth Equity (SGE).
Cymulate has raised $26 million to date, including seed investment from Eyal Gruner. The company intends to use the funds to accelerate further growth in the US, expanding sales, marketing and operational support to broaden the customer base, 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.
Founded by Eyal Wachsman and Avihai Bar Yosef, the company offers a cloud-based Breach and Attack Simulation (BAS) platform that helps organizations test their security controls by running thousands of attack simulations, shows points of exposure, and provides remediation guidance.
“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,” says Cymulate CEO Eyal Wachsman. “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. 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.”
“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”, shared Tam Hock Chuan, Managing Director of Vertex Growth. “We look forward to working with Cymulate to expand its innovative solution globally.”