Cygnvs, a California-based startup offering a secure communication and collaboration platform for cyber incident response, has emerged from stealth mode.
Founded in 2020, Cygnvs launched in stealth mode in May 2022 after raising $55 million in a Series A funding round led by Andreessen Horowitz, with additional investment from EOS Venture Partners and Stone Point Ventures.
The company says its platform was purpose-built as a guided cyber crisis solution that not only keeps key team members connected when responding to a cyber incident, but also ensures that they have the necessary visibility into response plan execution and that all steps of the operation are documented.
Cygnvs aims to fill a gap in communication and collaboration created by the need to work with members of different teams and with multiple third-parties when responding to a cyber incident, by providing each individual with the required level of visibility and management privileges.
“Each client has a whole bunch of 3rd parties that they need to work with in this space – outside counsel, forensics, consultants, insurance providers, etc. And the next client will have a different outside counsel, different forensics, different consultant, different insurance provider etc. What is required is a completely new way of managing tenancy,” Cygnvs founder and CEO Arvind Parthasarathi explains.
With cyber crises bound to happen – it is always a matter of when, not if – Cygnvs aims to help organizations be prepared to take the right steps toward resolving incidents and ensure that those steps are managed, secure, and auditable.
Cygnvs’ platform provides each participant to the cyber crisis response, regardless of whether they are connected to the internal network, at home, or mobile, with a secure environment with interactive and actionable processes and checklists. Everyone can be assigned a role and responsibilities, while tasks and workstreams can be easily updated as the situation evolves.
The solution is now available for purchase directly from Cygnvs, for those organizations that can afford their own experts, response processes, and playbooks, and through cyberinsurance providers, as a no cost benefit of insurance policies, for those organizations that lack the resources and expertise to implement their own cyber incident response teams.
“A benefit of working with the insurance industry is that insurance organizations have accumulated best practices due to the volume of their experience. Organizations [that] get Cygnvs through their insurance provider use the panel of experts the insurance provider has assembled and use the prebuilt playbooks and processes that the insurance provider has best practices on etc,” Parthasarathi says.
Cygnvs is now generally available in the US, Canada, EU, and the UK, in English, French, Spanish, German, and Japanese. The company says it already has 1,000 clients across the education, finance, healthcare, manufacturing, media, retail, technology, and utilities sectors.
The company says that the $55 million raised in Series A funding helps it improve its platform and expand sales operations.
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