Rail cybersecurity company Cylus announced that it has raised $30M in a Series B round, which brings the company’s total funding to over $57M.
In addition, in line with Cylus’ expansion strategy in the US, William Heinrich, former CISO of Amtrak and BNSF Railway, and Mark Grant, former CISO of CSX Transportation, will join the company’s advisory board.
Rail systems are undergoing a digital revolution, becoming far more connected and advanced, and as a result, face a rapidly growing threat landscape. To combat this, lawmakers worldwide are calling for greater cybersecurity regulations and railway companies are demanding more robust cyber solutions.
Set to reach over $10 billion in just five years’ time, the demand for railway cybersecurity solutions is skyrocketing.
Cylus’ solution, CylusOne, provides 360-degree protection for all rail systems, regardless of size and geography, enabling real-time threat detection, advanced forensics and mitigation, simplified security operations and more.
The company offers mainline and urban rail operators a complete real-time cybersecurity view that covers all levels – from the network’s entire topology down to the granular level of each and every asset of a railway system.
“We have seen a massive wave of digitization in the railway industry over the last few years,” said Gal Gitter, Partner and Managing Director of Ibex Investors, who will now become a Cylus board member.
“Despite this being a very positive trend, it has also entailed an exponential expansion of the surface area hackers can access to penetrate railway networks - which could lead to serious outcomes in one of the most core modes of transportation and critical infrastructure. Cylus is on a mission to enable secure railway operations and travel for the years to come.”
With rising government investment in critical infrastructure and growing cybersecurity regulations in the US, Cylus will use the current funding to fuel its growth in North America, as well as across Europe and Asia Pacific.
“The railways are such an essential part of our critical infrastructure, and really, of our everyday lives, that it is crucial that this industry gets the level of cyber protection it demands, and needs,” said Amir Levintal, CEO and Co-founder of Cylus.
“This tremendous vote of confidence from our leading global investors and partners will allow us to continue to provide best-in-market cybersecurity for this high growth market as we onboard more customers and partners worldwide.”
Cylus was founded in 2017 in Tel Aviv by seasoned experts in cybersecurity, machine learning, traffic management, signaling and onboard train systems. It is currently deployed in rail systems across North America, Asia-Pacific, Europe, the Middle East and Africa.