Investors have recently provided an undisclosed amount of funding to CyCognito, a cybersecurity company specializing in automated threats-hunting and external attack surface management. With this financial boost, the company aims to enhance its product development and go-to-market strategies, ultimately assisting companies in improving their readiness against digital risks.
The funding will enable CyCognito to further develop its platform and invest in product innovation. CyCognito is dedicated to revolutionizing the way companies safeguard themselves against unforeseen attacks, ensuring their risk analysis remains precise and current. Specifically, the funding will be utilized for:
- Create additional functionalities to cater to a broader array of services for customers.
- Expand the scope of its sales efforts to include multiple markets.
- Expand its reach into international markets;
- Allocate resources towards research and development to create innovative product lines.
- Invest in enhancements for existing products;
- Improve existing customer service offerings.
With CyCognito’s advanced platform, customers gain comprehensive visibility into their external attack surface, allowing them to detect and prevent malicious actors from causing harm. This valuable insight empowers customers to proactively safeguard against unknown threats and minimize the impact of attacks that breach their business systems. The additional funding received by CyCognito will further enable them to make significant progress in assisting organizations in mitigating digital risks.
Overview of CyCognito
CyCognito, a cybersecurity startup, has secured a substantial amount of funding recently. The Westly Group was the leading investor in their latest funding round, contributing $100 million. This significant investment supplements their previous series B funding of $41 million, resulting in a total funding of $141 million for CyCognito.
CyCognito revolutionizes organizations’ approach to cyberattacks by transforming their mindset towards threats. They provide a range of services aimed at enhancing organizations’ comprehension of their security status, identifying potential risks, and prioritizing actions for remediation.
Let us examine their intended utilization of their most recent funding.
Mission and Vision
CyCognito, an emerging cybersecurity startup, is dedicated to assisting organizations in comprehending and minimizing their vulnerable attack areas. By utilizing automation, AI, and crowd-sourced threat intelligence, CyCognito actively uncovers hidden vulnerabilities and safeguards against malicious attackers. Their ultimate goal is to become the foremost industry leader in cyber risk management and attack surface reduction for organizations.
CyCognito was established with a mission to offer an all-inclusive solution to support small- and medium-sized businesses in their pursuit of proactive cyber defense. Recognizing the limitations in resources and manpower, CyCognito harnesses the power of automation, AI, and crowd-sourced threat intelligence. This enables these businesses to enhance the security of their data, applications, users, and overall brand by providing access to advanced threat detection services at a significantly reduced cost compared to traditional methods.
CyCognito has outlined its plans following the latest funding announcement in February 2021 as follows:
- Expanding its sales and product teams
- Investing in the research and development of innovative features and enhanced capabilities.
- Expediting the development of channel partnerships and unveiling innovative products
- Improving operational efficiencies
- Boosting international expansion efforts
Products and Services
CyCognito, the global frontrunner in Attack Surface Management, offers a proactive approach to addressing cyber security vulnerabilities. Through its state-of-the-art platform and methodologies, CyCognito identifies and assesses concealed attack surfaces linked to an organization’s digital presence, encompassing external websites, cloud applications, network devices, external collaborators, and more. With a recent funding round of $22M and forthcoming advancements in attack surface management technology for 2021, CyCognito is poised to establish itself as a dominant player in the cyber security sector in the coming years.
This dedicated funding will primarily target the development of products and services in Attack Surface Management (ASM), with a focus on improved functionalities and expanded asset coverage. CyCognito aims to enhance its analytics engine to detect all assets in any cloud or on-premises environment, enabling scalability and increased visibility in extensive networks. Additionally, Enterprise plans to introduce new ASM capabilities that enhance security posture across environments and streamline incident response processes when necessary.
CyCognito intends to collaborate with vendors like Intel in its initiative. These vendors will offer customizable dashboards that provide comprehensive information on user behavior and cyber activity trends. By integrating this product, users will gain detailed insights into their attack surface, enabling them to monitor potential insider threats or malicious actors attempting to breach their systems without detection. Furthermore, service engagements will prioritize actionable insights derived from threat intelligence data. This will empower customers to enhance their visibility within their environment and make well-informed decisions during incident response.
Aside from investing in core tech platforms, product development, service projects, and partnerships, such as the one with Intel mentioned above, CyCognito plans to allocate a portion of their funds towards expanding globally. Specifically, they will focus on North America and EMEA regions starting from 2021. By increasing their business presence in these areas and enhancing their products and services, CyCognito aims to establish itself as a leading player in the global cybersecurity market by 2025/2026.
Cybersecurity startup CyCognito raises $100M in round led by Westly Group
In a recent funding round spearheaded by the Westly Group, cybersecurity startup CyCognito successfully secured $100 million. This substantial investment will empower the startup to elevate their business operations and expand their customer base by making their products accessible to a wider audience.
We will now explore how CyCognito intends to utilize this funding to advance their mission.
Expansion of Products and Services
The funding received by CyCognito will be allocated towards product development endeavors. CyCognito’s range of products assists customers in identifying and safeguarding exposed attack surfaces before they are targeted by malicious individuals. This groundbreaking security approach enables our customers to adopt a proactive stance towards their cybersecurity posture, rather than a reactive one.
With this funding, we will have the opportunity to grow our range of products and services by establishing agile development teams in all the regions we operate. This strategic move will enable us to develop customized services that cater to the unique needs of various geographical areas and highly specific customer segments across multiple industries.
Furthermore, the provision of funds not only facilitates the exploration of various research avenues but also enables us to establish valuable alliances with universities, peer organizations, and third-party providers specializing in cyber security solutions. With access to these valuable resources, we can expedite the development of our solutions by leveraging state-of-the-art technologies like machine learning and cognitive computing to enhance our threat analytics capabilities. Additionally, we can capitalize on the advancements of open source technologies, such as cloud deployment platforms like Kubernetes and OpenStack, to further enhance our offerings.
The combination of these initiatives presents a thrilling chance for CyCognito to enhance our existing offerings and explore new possibilities in the future. This will bolster our defense against threats on a global level and cater to the specific needs of organizations of all sizes.
Expansion of Team
CyCognito, a provider of cybersecurity platforms, has just secured $25 million in Series A funding. The funding round was led by Insight Partners, with participation from existing investors Hewlett Packard Pathfinder and Aspect Ventures. With this latest influx of capital, CyCognito’s total venture capital now stands at $31 million.
The company intends to utilize the recently acquired funds to bolster its team and expedite the development and adoption of its automated attack surface protection platform for businesses. CyCognito’s technology is specifically designed to continuously map an organization’s attack surfaces, identifying the most probable avenues that hackers might exploit when targeting the company. Additionally, it offers more sophisticated evaluations of these surfaces and identifies specific vulnerabilities that may have been overlooked by other existing security solutions already implemented by businesses.
The primary focus of CyCognito’s funding will be on expanding their engineering and product teams. This expansion will enable them to develop cutting-edge solutions that enhance the security of newly redesigned hybrid IT environments in an ever-evolving IT landscape driven by the shift towards cloud computing. Furthermore, the additional resources obtained through the funding can be utilized to extend their global footprint by hiring more employees in locations beyond their current bases like Israel, Los Angeles, and Seattle.
Investment in Research and Development
CyCognito has always prioritized delivering groundbreaking and game-changing solutions to address security challenges in the corporate world. Our cutting-edge technology and services empower organizations to safeguard their valuable assets from potential attackers, offering comprehensive visibility and control over their vulnerabilities. In line with our unwavering dedication to enterprise security, we intend to utilize the funding to make significant investments in research and development.
In order to enhance our security threat detection technologies, we will allocate more resources to research. Our focus will be on areas that have not been adequately addressed by existing solutions. This includes robustness-based cyber security, which examines the strength of an organization’s defenses against cyberattacks. We will also explore automated penetration testing, machine learning algorithms for detecting and visualizing attack surfaces, and integrations with popular cloud hosting platforms and open source hardware platforms. Additionally, we will improve analytics by implementing natural language processing algorithms. These investments will equip our customers with top-notch tools to swiftly assess their risks and safeguard their businesses against today’s sophisticated threats.
Tags: CyCognito, cybersecurity startup, founded in 2018, $100M funding, Series 800m with GroupwiggersVentureBeat, external Attack Surface Management platform.
