The autonomous security company Cynet Security Ltd. announced today that it has received $40 million in fresh capital to further expand its business operations across Europe as well as North America. North American and European markets
Greenfield Partners led the Series C investment, which also included Norwest Venture Partners, Vintage Investment Partners, BlueRed Partners, and Deutsche Telekom.
It was founded in 2015. Cynet is a security platform powered by artificial intelligence that provides autonomous defence against endpoints and rapid response to stop attacks on the internet. Cynet’s Cynet 360 platform is a cross-layered platform that provides detection and response as well as security for both the user and network and the ability to detect and respond.
Cynet XDR, the company’s cross-layered detection and reaction product, is based on the most recent generation of protections, EDR Network detection, responses, and the analysis of entity and user behaviour and deception tools that provide complete automated investigation and mitigation of threats on a simple system.It is supported by a 24/7 surveillance system that monitors detection as well as response.
It claims that its self-contained breach protection software gives users the most sophisticated, adaptable security. It offers the most complete set of advanced and standard threats that do not have the cost of operation, maintenance, or manual operation.
“Cynet has seen exponential growth because it has solved a challenge and removed the barriers associated with secure cybersecurity,” said Eyal Gruner, Cynet’s cofounder and CEO, in a press release.”This funding round will enable Cynet to grow the capacity of the team in order to meet the needs of our customers and the market.”
Alongside the announcement of funding, Cynet also announced that cybersecurity researcher Chris Roberts is joining the company as the director for security strategies. According to his online bio, Roberts is considered “one of the top experts in counter-terror research and intelligence related to security research in the information security industry.”
“I am concerned for security professionals in companies with limited resources who try to protect their employees and business from the ever-growing number of cybersecurity threats,” Roberts said. “I am excited to collaborate with my customers to create and execute corporate-level defence and risk-reduction strategies that combine operational methodologies with cutting-edge technology.”
Cynet has raised $78 million to date, including the $18 million announced in July, in addition to this funding round.
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