Attack surface protector CyCognito inks $100m from Series C raise

Attack surface management platform CyCognito has secured $100m in funding from a Series C round led by The Westly Group.

The financing raise also saw participation from Thomvest Ventures, The Heritage Group, Accel, Lightspeed Venture Partners, UpWest and Sorenson Ventures.

Following this recent round, the company has raised a total amount of $153m. Last year, CyCognito raised $30m in its Series B funding round and had previously snared $19m in its Series A in 2019.

Founded in 2017, CyCognito is the first external attack surface management platform that delivers a complete solution to rapidly prioritise, investigate and respond to potential security risks.

The platform leverages the latest advancements in machine learning and natural language understanding to autonomously build a graph data model that portrays an organisation’s business structure.

Following this, the platform then scans billions of servers and devices across the internet to contextualise and identify internet-exposed and unmanaged assets that could serve as entry points for attackers.

According to CyCognito, the company has experienced a year of significant growth in revenue and customer adoption. The company claims it has grown its Fortune 500 customer roster by three-fold and has generated new ARR four-fold.

CyCognito CEO and co-founder Rob Gurzeev said, “Our number one priority is to provide global enterprises with world-class attack surface protection. That’s why we’ve developed the industry’s most dynamic, intelligent platform for comprehensive external attack surface management. Our proactive approach to discovering and prioritising risk is unmatched in the industry and provides security teams with the insight and confidence to quickly pre-empt potential attacks.”

The Westly Group founder and managing partner Steve Westly added, “As the world evolves and businesses innovate, the need to protect critical infrastructure and attack surfaces becomes more critical. We represent many of the world’s largest energy and transportation companies.

“CyCognito’s next-gen approach to attack surface management couldn’t come at a better time, with virtually every organisation making the shift to digital transformation and supporting remote and hybrid workforces. We believe CyCognito is the clear leader protecting businesses around the world with a comprehensive attack surface management platform.”

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