Cyclops, a FinTech firm in the cybersecurity sector, recently announced its successful emergence from stealth.
The company boasts an innovative cybersecurity search platform that utilises artificial intelligence (AI) to revolutionise the sector.
The company successfully raised $6.4m in seed funding, attracting investments from Merlin Ventures, Insight Partners, Tal Ventures, and toDay Ventures. In addition, CrowdStrike’s strategic investment vehicle, CrowdStrike Falcon Fund, and cybersecurity veterans such as Mike Fey, CEO of Island.io; Dan Amiga, CTO of Island.io; Ofer Smadari, CEO of Torq; and Eyal Gruner, CEO of Cynet, also participated in the round.
Cyclops offers an intuitive, user-friendly search engine which utilises generative AI to answer critical and timely questions about an organisation’s security posture. This platform eliminates the need for complex forensics or Security Information and Event Management (SIEM) expertise, making cybersecurity much more accessible for companies.
With the fresh funding, Cyclops intends to increase its scale to meet the demands from its growing customer base. They plan to recruit additional developers to maintain product innovation and broaden capabilities. Also, the funds will be utilised to enhance its go-to-market strategy.
Cyclops operates on a cybersecurity mesh architecture (CSMA) and employs generative AI to offer an easy-to-navigate experience. Security teams can use natural language queries to gain vital insights about their environment and address vulnerabilities, security incidents, and governance, risk and compliance scenarios.
Cyclops CEO Eran Zilberman said, “Today, organisations struggle to find answers to the most complex questions across the tools in their security stack, and get simple answers on business impact. With Cyclops, these days are over. Our main purpose is to empower security teams to proactively defend against cyber threats and prioritise addressing critical vulnerabilities with the necessary contextual data.”
According to previous funding data, this $6.4m seed round is the first publicly announced investment in Cyclops.
Copyright © 2023 RegTech Analyst
Copyright © 2018 RegTech Analyst
