Cypago, a GRC start-up headquartered in Tel Aviv, has announced the release of its much-anticipated Cyber GRC Automation platform.
Alongside this, the firm disclosed that it successfully secured $13m in venture funding.
This latest investment round for the company was spearheaded by Entrée Capital, Axon Ventures, and Jump Capital. The trio of investors recognised the potential of Cypago’s offering, choosing to back its vision for the future.
Delving deeper into Cypago’s platform, it is a cloud-based solution designed to facilitate advanced automation, ensuring that organisations can maintain visibility, enforce regulations, and ultimately decrease the costs and risks associated with their GRC operations. As of now, Cypago has already collaborated with several prominent names in the sector, including Check Point, Hippo Insurance, Operative, MTX, and Trigo. One of the platform’s main draws is its ability to automatically streamline the GRC processes which have become increasingly cumbersome for many businesses.
The company plans to allocate its new funds towards the expansion of its research, development, and product teams. Additionally, it intends to broaden its market outreach efforts, specifically aiming to grow its foothold in both North American and European Union territories.
One of the challenges companies face today is staying abreast of the myriad of cybersecurity regulations introduced to safeguard both business and client data. To illustrate, last year alone, over 40 US states introduced an astonishing 250 bills that specifically centred on cybersecurity, a number which is only projected to grow.
Cypago’s platform stands out in its fusion of SaaS architecture with sophisticated analysis and correlation engines, such as GenAI and NLP-based automation. This combination allows for comprehensive coverage across all security frameworks and IT landscapes. Moreover, it offers a range of pre-set automation templates suitable for various frameworks like NIST CSF, NIST 800-53, SOC 2, and ISO 27001. The platform also boasts customisable no-code workflows for tasks such as evidence gathering, continuous monitoring, and discovery of control gaps. This streamlining means that GRC, security, and operations teams can operate more efficiently, instilling trust in their stakeholders and clients.
Cypago co-founder and chief executive Arik Soloman said, “Traditionally, running cyber GRC processes has been a manual, fragmented, and time-consuming process. As the risk of cyber threats continues to rise, the volume and complexity of security-related GRC obligations grow, adding to the burden over time. This diverts valuable attention from cybersecurity teams, which should be focused on enhancing their business’ security. Non-compliance with GRC mandates can result in costly fines, erode customer trust, and even major data breaches.”
Copyright © 2023 RegTech Analyst
Copyright © 2018 RegTech Analyst
