Cynet raises $13 million to simplify enterprise security

Venture Beat: Cynet raises $13 million to simplify enterprise security

Cynet has raised $13 million in funding for its enterprise-grade cybersecurity platform, which the company describes as a dashboard focused on holistic detection and response.

The Cynet 360 cybersecurity platform is targeted at both large and small companies, and it seeks to enable them to protect, prevent, detect, and remediate any threat or attack on an internal network, so they no longer need to expend time and energy managing multiple technologies.

In order to keep fueling development, Tel Aviv-based Cynet has raised the money in a round by Norwest Venture Partners, serial cyber investor Shlomo Kramer, and returning investor Ibex Investors. The investment will bolster Cynet’s growth as it continues to pursue making cybersecurity look easy. The goal is to help companies save time, manpower, and money.

“Almost all cybersecurity solutions are built to address one vertical in the complex enterprise defense architecture,” said Dror Nahumi, general partner at Norwest Venture Partners, in a statement. “However, small to medium size enterprises do not have the resources to define, select, integrate and manage dozens of products from different vendors. We are impressed with Cynet’s vision and proven customer success to enable a complete defense solution from a single platform, addressing this huge market demand.”

Cynet 360 secures the internal network of organizations. In under two hours, the Cynet platform implements, analyzes, and begins detecting across tens of thousands of endpoints, giving security teams visibility into traffic and communications.

“We feel confident going forward, especially with the backing of industry giants like Norwest and Shlomo Kramer,” said Eyal Gruner, Cynet founder and co-CEO, in a statement. “This investment further empowers us in our mission of enabling any size company to achieve the same enterprise-grade security solution as large-scale organizations. Millions of endpoints around the world are protected by the Cynet 360 platform, and we’re proud to be able to ensure that people sleep soundly, knowing that their assets are secured by Cynet.”

Cynet has raised $21 million to date, and it has 70 employees. Asked how it stands out from the pack, the company said, “A single robust platform to protect the entire internal environment of a customer, up and running in less than 2 hours. [It] leverages many technology capabilities including: EPP, EDR, UBA, network analytics, deception, vulnerability management. For the first time ever the small and medium enterprise market can get a top enterprise solution without the need to buy many products or the need to have extensive skill set to manage the security.”