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Cyberattack Simulation Company XM Cyber Raises $17 Million

XM Cyber, an Israel-based company that offers a cyberattack simulation platform, announced on Thursday that it raised $17 million in a Series B funding round.

The latest funding round, which brings the total raised by the firm to $49 million, saw participation from Macquarie Capital, Nasdaq Ventures, Our Innovation Fund, and Swarth Group.

The money will be used to boost research and development, expand sales and marketing, and expand its platform’s capabilities.

XM Cyber offers an automated breach and attack simulation platform that continuously tests an organization’s security posture, including on premises and in the cloud, and provides them information on how to remediate any identified issue.

The company says it has customers in the United States, Europe, Asia, and Latin America, including in the financial, government, telecoms, manufacturing and critical infrastructure sectors.

“The ability to secure significant funding during a global pandemic is a testament to our product and team. We are grateful to our investors for this vote of confidence and look forward to their continued support,” said Noam Erez, CEO and co-founder of XM Cyber.

“XM Cyber intends to change the way cyber security is viewed and managed as a result of a continuous cycle of measuring, prioritizing and improving overall cyber security posture," Erez added. “We help customers take a different view of their cyber security. We show them how a hacker can combine attacks, waiting for mistakes to happen that open up attack paths to their critical assets.”

Related: APT Simulation Provider XM Cyber Raises $22 Million

Related: XM Cyber Unveils Automated Purple-Teaming at Speed and Scale

Related: Breach-and-Attack Simulation Firm SafeBreach Raises $19 Million

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Eduard Kovacs (@EduardKovacs) is a contributing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.