Cynet, a Tel-Aviv based cybersecurity company, has raised a $40 million Series C funding round to help it expand in North America and Europe. The company provides an AI-powered platform for automated security and threat detection on endpoint devices. Investors in this round include Next47, Hetz Ventures, Dell Technologies Capital and M12, and existing investors Qumra Capital and Blumberg Capital. This brings Cynet’s total funding to date to over $63 million.
Cynet is dedicated to providing powerful AI-driven endpoint protection and incident response tools that can quickly detect threats targeting endpoints in the network without having prior knowledge of them. With the help of its scanning technology, the platform can detect unknown malware, hacking attempts, malicious actors and zero-days using various techniques such as threat intelligence analysis, machine learning algorithms and behavior analytics. Its platform also uses automation capabilities such as automatic remediation to quickly mitigate threats before they have time to cause damage or disruption.
Overview of Cynet
Cynet is an Israel-based cybersecurity company providing customers an AI-powered endpoint security and response platform worldwide. By leveraging advanced analytics and machine learning, Cynet helps organizations detect and respond to cyber threats faster and more effectively.
Recently, Cynet raised a $40M Series C funding round to fuel its mission of expanding into new markets, particularly in North America and Europe.
In this article, we will explore the features and benefits that this endpoint security platform offers.
Cynet is dedicated to providing powerful AI-driven endpoint protection and incident response tools that can quickly detect threats targeting endpoints in the network without having prior knowledge of them.
What is Cynet?
Cynet is a cloud-based endpoint security solution that safeguards organizations from cyberattacks. The platform is powered by Artificial Intelligence (AI) and provides automated response to threats. Cynet helps organizations detect, respond and mitigate threats in real time. It also offers user-friendly incident response workflows and valuable reporting for business stakeholders which helps them make informed decisions about their security practices.
The Cynet platform consists of four layers that provide a comprehensive Security Fabric for endpoints:
1. Endpoint Protection — This module protects a constantly expanding threat landscape with antimalware protection and advanced threat prevention tools. It proactively defends against known, unknown and zero day threats with virtual patching techniques and AI-driven analytics on suspicious activities.
2. Endpoint Detection & Response — Cynet’s in-depth visibility module relies on advanced analytics to detect malicious behavior, identify system vulnerabilities, block malicious payloads, quarantine infected files or suspicious activities as well as isolate host processes from networked devices further protecting the system from attack propagation within the enterprise environment.
3. Threat Hunting — This layer works to continuously search for hidden malicious activity using forensic search capabilities which allow for better investigation into attack origin, activity timeline & phases of attack as well as exfiltration of data/information or other actions targeting systems within the organization’s security perimeter
4 Endpoint Automation — Through this automation, Cynet automates response actions across endpoints with single commands to execute comprehensive endpoint security policies such as quarantine or uninstall applications while eases headache of manual remediation process across thousands of endpoints remotely.
Cynet is a cloud-based endpoint security solution that safeguards organizations from cyberattacks. The platform is powered by Artificial Intelligence (AI) and provides automated response to threats.
What Does Cynet Offer?
Cynet is an endpoint security and response firm based in Israel. It offers organizations a full, integrated solution to help protect them against cyberattacks — from prevention and detection to response, remediation and recovery. This means that organizations can now use Cynet’s solution to secure their networked endpoints rather than relying on multiple vendors or point products.
Cynet’s AI-driven platform automatically detects malicious activites on any endpoint across the network. It then immediately stops the cyberattack before it can cause any damage or disruption while generating detailed forensic reports that provide insight into the threat landscape within an organization. Additionally, by leveraging its centralized dashboard, administrators can quickly view aggregated detections and alarms to investigate them more effectively.
In addition to protecting from cyberthreats, Cynet can assist with incident response by recommending best practices for responding to detected incidents. Through its platform features such as automated response workflows, scripts and playbooks designed for specific threats, along with kill chain analysis capabilities, organizations are provided with a comprehensive set of tools that allow them to assess threats quickly and accurately to minimize any potential impact caused by the attack. Additionally, Cynet’s rapid-remediation capabilities ensure that any vulnerabilities are patched quickly and fully recovered in the short-term so organizations can avoid longer-term implications from more damaging attacks.
Investment Round
Israel-based Cynet, a provider of AI-powered endpoint security, has closed an impressive $40M Series C funding round to help it expand its operations in the US and Europe.
Cynet’s endpoint security solution offers an intelligent, automated approach to threat detection and response. This funding will enable Cynet to build on its existing technologies and boost its presence in key markets.
Who Invested?
Lightspeed Venture Partners led the Series C round, with existing investors 83North, Glilot Capital Partners, Yahoo co-founder Jerry Yang’s AME Cloud Ventures, e.ventures, Oryzn Capital and TenEleven Ventures also participating. It brings the total financing to date for Cynet to $75 million.
This news follows the launch in late 2018 of the company’s Cynet 360 Autonomous Breach Protection platform that is designed to make it easier for organizations to detect, investigate and stop cyberattacks. Over the past few years, Cynet has seen some rapid growth in terms of its client base, including several Fortune 500 companies and organizations across various industry verticals on five continents. The company now has over 180 employees located its offices in Tel Aviv; New York City; Cluj-Napoca, Romania; and Tokyo.
How Much Was Invested?
Cynet, an Israeli company that provides AI-powered endpoint security and response to stop cybercriminal threats, has raised $40 million in a Series C funding round to assist the firm in increasing its presence in North America and Europe.
The round was led by Greylock Partners, one of world’s top venture capital firms, alongside current investor Cisco Investment, and participation from new investors Bessemer Venture Partners, Insight Partners and Glilot Capital Partners. This brings Cynet’s total funding to date to $77 million.
This latest investment will help Cynet expand its technology resources in Europe and the US. It will also use the funds from this raise to continue building out its platform; leveraging data science insights and automated systems to locate threads before they can become cyber-attacks on an organization’s businesses endpoints.
In addition to expanding its market presence, Cynet looks forward to growing its team with new talent across business sectors such as engineering and sales roles worldwide.
With the help of its scanning technology, the platform can detect unknown malware, hacking attempts, malicious actors and zero-days using various techniques such as threat intelligence analysis, machine learning algorithms and behavior analytics.
What Will Cynet Do With The Funds?
The $40 million in funds raised in Cynet’s Series C round will help the company expand its presence throughout North America and Europe. This expansion will include the implementation of a direct sales force for North American markets, as well as strategic partnerships and investments in local R&D activities, particularly in Israel. Additionally, the funds will be used to scale up Cynet’s already hugely successful AI-driven platform for endpoint security and response which uses Israeli intelligence agencies’ expertise to create an advanced algorithm for stopping cyberattacks and protecting users even before they happen. As part of its expansion efforts, Cynet is increasing their workforce with highly skilled professionals who understand various international markets.
Cynet also plans on using these funds to invest heavily in research and development initiatives that have helped establish them as a leading provider of endpoint security solutions over the years. In this endeavor, they are investing more time into refining their Automation Platform which provides AI-powered automation solutions that can prioritize tasks based on pre-defined policies set by business owners; as well as developing a Security Orchestration Platform which makes it easier for security teams to respond quickly and effectively against threats when or if they arise.
Expansion Plans
Israel’s Cynet, which provides AI-powered endpoint security and response to stop cyberattacks, has raised a $40 million Series C to help it expand in North America and Europe.
This represents the company’s largest funding round to date, and comes at an important time for the cybersecurity industry as it shifts towards more automated and intelligent solutions.
With this new investment, Cynet wants to build its infrastructure and expand its sales capabilities.
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