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Cybersecurity Funding

Risk Assessment Company CyCognito Raises $30 Million

CyCognito, a company that focuses on identifying and eliminating shadow risks in business environments, has closed a $30 million Series B funding round. To date, the company raised $53 million.

CyCognito, a company that focuses on identifying and eliminating shadow risks in business environments, has closed a $30 million Series B funding round. To date, the company raised $53 million.

The security company’s platform allows organizations across industries to identify their attack surface, discover attack vectors and eliminate them, monitor risks associated with subsidiaries, and validate security posture.

Founded in 2018 and based in Palo Alto, CyCognito leverages a concept named “the Path of Least Resistance” to help customers discover and eliminate hidden risks. By exposing the least secured ways to compromise an organization, CyCognito helps customers improve their security stance.

The company’s automated platform scours the Internet to collect data and combines it with machine learning to map Internet-exposed assets, determine their business context and detect attack vectors.

The new funds, CyCognito says, will allow it to strengthen its position in identifying systems that are exposed to external threats, as well as in discovering unknown, uncontrolled or abandoned digital assets, to ensure they don’t pose a risk to organizations.

The funding round was led by Accel, with participation from previous investors Lightspeed Venture Partners, Sorenson Ventures, and UpWest.

“Attackers seek out externally-exposed systems and assets that are mostly overlooked by organizations and are easy targets and conduits into corporate networks and data centers,” said Rob Gurzeev, CEO and co-founder of CyCognito. “Our next level of funding enables us to greatly increase our market reach, educating and serving the needs of companies in closing these dangerous gaps and gaining an edge on attackers.”

Related: Data Governance and Security Provider Privacera Raises $13.5 Million

Related: Web Traffic Security Provider Kasada Raises $10 Million

Related: Blockchain Security Startup Valid Network Raises $8 Million in Seed Round

Related: Data Security Company Open Raven Raises $15 Million

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

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