Cyware, which claims to be the only virtual cyber fusion centre, has netted $30m in its Series B round, which will help it bolster product development.
The investment round was led by Advent International and Ten Eleven Ventures. Commitments also came from the Prelude Fund, Emerald Development Managers, Great Road Holdings and Zscaler Emerald Development Managers and Great Road Holdings.
With the capital, the company hopes to double down on product innovation, hire staff across all departments and expand its global sales and channel programs.
The company witnessed strong growth in 2020, culminating in over 120% year-over-year growth in annual recurring revenue.
Cyware’s virtual cyber fusion platform combines technical and strategic threat intelligence with security orchestration, automation and response services. This enables security teams to have improved visibility to protect organisations from advanced attacks.
Its features include situational awareness, threat intelligence eXchange, security orchestration and fusion and threat response.
Cyware co-founder and CEO Anuj Goel said, “Over the past decade, security operations teams have had difficulty with trying to sift through copious amounts of threat data and lacked the humans’ role as part of their security orchestration strategies.
“Our goal with our Virtual Cyber Fusion platform is to help our customers unite their security teams to efficiently respond to high-priority threats by connecting the dots in their environments, and the momentum we’re experiencing is proof that we are executing on that mission. This Series B financing will help us continue to overdeliver for customers, expand our team, improve our platform and truly revolutionize how security operations and threat intelligence teams work together.”
The cybersecurity company previously raised $10m in its Series A round, from Prelude Fund, Tanium and a number of other backers.
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