CYE, a Tel Aviv, Israel-based company on a mission to help companies identify “real-life” cyber risks by leveraging humans and machines, announced today that it has raised $100 million in growth funding through a financing round led by private equity firm EQT.
By assessing possible attack routes to valuable assets, CYE helps companies allocate resources and focus on remediation efforts more effectively, and can battle-test how security strategies evolve over time.
The company explains that by leveraging ethical hackers, combined with its technology, it conducts “non-simulated attacks” to provide deep organizational assessments, present real business risks and offer cost-effective remediation plans to optimize security investments.
Hyver, the company’s flagship product, conducts cybersecurity assessments that cover both internal assets as well as third-party vendors. Then, CYE explains, red teams perform “real” attacks to predict possible attack routes and give customers an opportunity to prevent such attacks before they occur at the hands of malicious actors.
Founded in 2012, the company was originally self-funded and profitable since inception, Sharon Argov, CMO at CYE, told SecurityWeek. “CYE’s funding path is unique and it’s hard to look at it through the classic venture capital model. We raised an undisclosed seed round several years ago and our current raise from private equity firm, EQT, is a growth round.”
Headquartered in Israel, CYE currently has 80 employees and has offices in the US and UK.
Venture Capital firm 83North also participated in the financing round.