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.
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.”
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