CYE, a developer of cybersecurity optimization solutions, said Wednesday that it raised over $100 million in a financing round that will be used to continue the company's growth in the global market.
The round was led by global investment organization EQT with participation from existing investor 83North.
According to the Israeli company, CYE helps its customers take full control of their cybersecurity postures by enabling security leaders to identify which business assets are at risk, prioritize them based on critical business impact, and execute cost-effective remediation projects for optimal risk prevention.
"At CYE, we are laser-focused on building a company that fundamentally changes the way organizations approach cybersecurity, enabling them to accurately assess the most urgent threats to their business," said Reuven Aronashvili, the company's founder and CEO. "As we continue to build on this foundation, we are thrilled to welcome EQT as our new partner and are very excited to kickstart CYE's next phase of expansion and innovation."
Hyver, CYE's flagship product, uses advanced algorithms and graph modeling to conduct a comprehensive cybersecurity assessment, covering the entire organization, as well as third-party vendors. Highly experienced 'red teams' then perform real, non-simulated attacks, allowing CYE to accurately predict possible attack routes, giving customers the ability to prevent such attacks before they occur, as well as the knowledge of where resources need to be invested, according to CYE.
The company established in 2012 says it advises medium-size and Fortune 500 companies in industries worldwide. In addition to its headquarters in Israel, CYE has offices in the US and the UK.