Israel-based cybersecurity startup Vulcan Cyber has collected $10m in Series A funding to aid its commercial operation expansion in North America.
Capital was supplied by cybersecurity-focused investors Ten Eleven Ventures and YL Ventures.
With the round closed, Vulcan will look to expand its commercial operations in North America and bolster its development and support capabilities. Its goal is to close the cybersecurity remediation gap.
The company believes a remediation gap, which is the time between the initial discovery and reporting until the risk is fixed, can last for months and up to a year. Vulcan aims to solve this by supplying security teams with security, DevOps, and IT tasks and tools to automate and scale their vulnerability remediation processes.
Its technology ranks vulnerabilities based on true and unique risks to the enterprise by correlating asset technical attributes and configuration, security assessment results and threat intelligence. With this, a security team can focus on the most pressing threat first.
Furthermore, the platform advances rapid resolution of known vulnerabilities by enriching vulnerability data with its intelligence feed and actions can be automatically applied.
The company only launched from stealth last year and has since raised a total of $14m in venture funding. Its former round came in the form of a $4m seed investment from YL Ventures and angel backs including Tel Aviv University chairman Giora Yaron.
Vulcan Cyber CEO and co-founder Yaniv Bar-Dayan said, “IT leadership can no longer rely upon disparate internal resources and legacy processes to comprehend and act upon knowledge of vulnerabilities and other threat intelligence.
“Only continuous, collaborative, automated remediation, as offered by Vulcan, can close the vulnerability gap, at scale, across today’s cyber threat landscape.”
As part of the deal, Ten Eleven Ventures general partner Mark Hatfield has joined the Vulcan board of directors. Additionally, former Cylance CTO and Obsidian Security co-founder Glenn Chisholm has joined as an investor.
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