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Cybersecurity Funding

Threat Detection Firm Cynet Raises $13 Million

Threat detection and response company Cynet on Wednesday announced that it raised $13 million in a Series B funding round, which brings the total raised to date to $20 million.

Threat detection and response company Cynet on Wednesday announced that it raised $13 million in a Series B funding round, which brings the total raised to date to $20 million.

The funding round was led by Norwest Venture Partners, with participation from Shlomo Kramer and Ibex Investors. The firm previously raised $7 million in a Series A funding round in 2016.

Cynet says it will use the new funds to continue its growth and keep fueling the development of its products.Cynet secures $13 million investment

The company’s Cynet 360 platform, which is said to be used by organizations worldwide to protect millions of endpoints, is designed to prevent, detect and remediate any threat on the internal network, including malware, zero-day attacks, ransomware, lateral movement, and malicious insiders.

Cynet says its solution can be deployed in less than two hours and it provides security teams complete visibility into traffic and communications across tens of thousands of endpoints.

“Almost all cybersecurity solutions are built to address one vertical in the complex enterprise defense architecture,” said Dror Nahumi, general partner at Norwest Venture Partners. “However, small to medium size enterprises do not have the resources to define, select, integrate and manage dozens of products from different vendors. We are impressed with Cynet’s vision and proven customer success to enable a complete defense solution from a single platform, addressing this huge market demand.”

Related: Hacker Detection Firm Vectra Networks Raises $36 Million

Related: Cyber-Attack Prevention Firm Solebit Raises $11 Million

Related: Intrusion Detection Startup Threat Stack Raises $45 Million

Written By

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.

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