Digital risk management platform CybelAngel has raised $12m to fuel its global expansion.
The round was led by technology growth equity investors Bpifrance and Serena. With new capital onboard the cybersecurity business plans to expand globally and further develop its AI-powered platform, which detects over 1 billion documents per day
Nicolas Herschtel, Deputy Director for Bpifrance Large Venture Fund, said, “We are thrilled to join this round of funding, as CybelAngel is a pioneer in state-of-the-art technology that protects customers from data leaks and breaches. CybelAngel’s presence in the cybersecurity market since 2014 has allowed their machine learning technology to develop a significant edge in protecting customer data.”
Based in New York, CybelAngel provides enterprises with actionable threat intelligence that enables effective remediation and improved cybersecurity posture.
By leveraging artificial intelligence and proven machine learning capabilities, the company’s platform helps enterprises manage digital risk in real time by providing them with relevant, actionable information, enabling effective remediation and takedown.
CybelAngel helps organisations protect their intellectual property, brand, and reputation with a solution that complies with relevant regulatory requirements.
The financing will enable the company to increase its footprint in North America, with plans to hire a U.S. team of experts in cybersecurity sales and marketing.
CybelAngel will also use this funding to respond to cybersecurity market growth in Europe by growing their European sales and marketing teams.
Founded in 2014, the security business also said it plans to continue innovating to address new sources of leaks and breaches to keep up with the pace of digital transformation.
Erwan Keraudy, CEO of CybelAngel, said, “This funding enables CybelAngel to build out our U.S. presence while simultaneously commencing important product development efforts that were informed by many of our new U.S. customers. The acceleration of digital transformation has created an explosion of risks due to both malevolent and negligent third parties. These risks are now at the heart of enterprise boards’ critical concerns.”
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