Vulcan Cyber, a pioneer in the field of cyber risk management, has recently concluded its Series B funding round, amassing $55m.
This round was led by Maor Investments and Ten Eleven Ventures, with notable contributions from existing investors Dawn Capital and Wipro Ventures. The completion of this round brings Vulcan Cyber’s total funding to date to $70m.
The company, renowned for its market-leading cyber risk management platform, has witnessed a doubling in its annual recurring revenue over the past year. This surge is attributed to the growing global demand for a SaaS solution that transcends traditional vulnerability scanning and management, aiding cybersecurity teams and asset owners in mitigating risks critical to their organizations.
The fresh infusion of funds will be channelled towards further product innovation, market expansion, accelerating revenue growth, and leveraging the company’s current market momentum. Vulcan Cyber’s strategic plan includes an entry into the cyber risk and attack path management markets.
Eric Elalouf, managing partner of Maor Investments, praised Vulcan Cyber’s innovative approach. “As the threat landscape and attack surfaces grow in complexity and scale, Vulcan Cyber increasingly resonates with cyber security executives who recognize the challenge and seek an innovative, more-effective approach to cyber risk management,” Elalouf said. He emphasised Vulcan Cyber’s unique position in the market due to its flexible architecture and adaptive risk prioritization.
Yaniv Bar-Dayan, CEO and co-founder of Vulcan Cyber, commented on the company’s future direction. “Vulcan Cyber is leading the way in a push to move beyond common vulnerability management functions of scan and prioritize, to ease the heavy lifting of meaningful risk mitigation. Efficient collaboration between security, engineering, operations teams and asset owners is essential. Orchestration and automation of remediation tasks at enterprise scale is critical. This round of funding will help Vulcan Cyber deliver on its vision to help customers align vulnerability risk management efforts with business priorities,” Bar-Dayan said.
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