RADICL, a cyber firm specializing in delivering enterprise-grade extended threat protection to SMBs, has raised an additional $9m in early-stage funding.
This recent influx, adding to a prior $3m raised, was led by Paladin Capital Group, with contributions from Access Ventures, the DA Ventures Seed Fund, and a coterie of strategic angel investors. The financial boost will be channelled into expanding RADICL’s platform research and development, augmenting sales and marketing operations, and gearing up for the commercial debut of their RADICL XTP product.
Operating in a domain where the American Defense Industrial Base (DIB) and critical infrastructure supply chain are constantly under siege from various cyber threats, RADICL aims to fortify the defenses of SMBs, a segment alarmingly vulnerable to cyber-attacks. A recent IBM report highlighted the severe impact of data breaches on organizations with fewer than 500 employees, averaging a staggering $3.3m. Despite this, SMBs have often been left under-protected due to the prohibitive costs and complexities of high-quality cybersecurity solutions.
Chris Petersen, CEO of RADICL and Co-Founder of LogRhythm, elucidated, “SMB innovators are developing technologies critical to our nation’s economic and national security. These companies are being ruthlessly targeted by nation-state threats, compromising their innovations, data, and operations. We founded RADICL to defend against this critical risk. We will deliver desperately needed full-spectrum, enterprise-grade cybersecurity protection, at a price SMBs can afford; protecting them, protecting America.”
The introduction of the Cybersecurity Maturity Model Certification (CMMC) by the Department of Defense in 2020 emphasized the need for stringent security compliance across approximately 220,000 organizations in the DIB. However, few SMBs have been able to comply due to the overwhelming complexity and costs involved, leaving them exposed to sophisticated cyber threats.
Mourad Yesayan, Managing Director at Paladin Capital Group and RADICL board member, remarked, “SMBs in the DIB have been completely overlooked from a technology perspective. RADICL’s purpose-built XTP platform and virtual Security Operations Center (vSOC) are designed to meet the specific security needs of SMBs in America’s critical infrastructure and DIB. We could not be prouder to support their mission.”
RADICL’s approach streamlines the path to advanced cybersecurity protection and CMMC compliance, offering SMBs a unified solution encompassing advanced threat detection, monitoring, incident response, and more. The platform leverages AI innovations for cost-effective SOC capabilities suitable for SMB budgets.
Neil Serebryany, Founder and CEO at Calypso AI, expressed excitement about the partnership with RADICL, stating, “The RADICL platform fortifies our defenses. Their managed CMMC capabilities will accelerate our compliance requirements.”
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