Cybersecurity startup Cyware Labs Inc. announced today that it has raised $30 million in new funding to fuel further growth, accelerate channel business and strategic alliances and expand its global footprint.
Founded in 2016, Cyware offers what it describes as an artificial intelligence-powered “cyber fusion” platform for enterprises and managed security service providers that automates threat intelligence sharing. The company’s cybersecurity solution emphasizes proactive engagement as the core of cybersecurity strategy to help change the ecosystem and optimize security operations by eliminating silos within organizations.
Cyware’s platform unifies threat intelligence, automation, threat response and vulnerability management with data insights from assets, users, malware, attackers and vulnerabilities. The platform integrates security orchestration, automation and response, known as SOAR, and threat intelligence to enable collaboration across security teams.
The platform can trigger various automated actions in response to the threat information it collects. In one example, a cybersecurity team could configure the software to run an antivirus scan automatically on systems that exhibit unusual activity and, if malware is found, disconnect them from the network. Cyware’s algorithms can send alerts to cybersecurity team members when an incident is too complex to remediate automatically.
The new funding comes as Cyware has seen strong year-over-year growth, growing over six times, off an undisclosed base, since it raised $10 million in a Series A round in 2020. The company counts among its customers PricewaterhouseCoopers International Ltd., Optiv Security Inc., SHI International Corp., Morado Investments Inc., Aviation Information Sharing and Analysis Center Inc. and Presidio Inc.
“Security teams today face an overwhelming amount of data, but silos across data, processes and technologies make it very challenging to see the bigger picture and proactively stop threats,” co-founder and Chief Executive Anuj Goel said in a statement. “Our mission at Cyware is to break down these silos, integrate threat intelligence into SOC operations, make it easy for teams to automate response and act immediately to anticipate and stop threats.”
Ten Eleven Ventures led the Series C round, with previous investors Advent International Corp., Zscaler Inc., Emerald Development Managers LP, Prelude Ventrues LLC and Great Road Holdings LLC also participating. Including the new funding, Cyware has raised $73 million to date, according to data from Crunchbase.
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