Cynet Raises $13M in Series B
NEW YORK, NY, Cynet has raised $13 million in Series B funding, led by Norwest Venture Partners.
Cynet, pioneers of the holistic detection and response platform (www.cynet.com), understood the urgent need for a comprehensive answer to organizational security needs when they developed the Cynet 360 cybersecurity platform - the industry's first ever enterprise-grade solution available to any size organization. The Cynet platform empowers customers with one best-in-class solution that makes it easy for organizations to protect, prevent, detect and remediate any threat or attack on the internal network, so they no longer need to expend time and energy managing multiple technologies.
In order to keep fueling development, Cynet has raised $13-million in Series B funding, led by Norwest Venture Partners, serial cyber investor Shlomo Kramer and returning investor Ibex Investors. The investment will bolster Cynet's rapid growth as it continues to share new and increasingly powerful ways to help organizations, from small to large, looking to make cybersecurity easy.
"Almost all cybersecurity solutions are built to address one vertical in the complex enterprise defense architecture," said Dror Nahumi, general partner at Norwest Venture Partners. "However, small to medium size enterprises do not have the resources to define, select, integrate and manage dozens of products from different vendors. We are impressed with Cynet's vision and proven customer success to enable a complete defense solution from a single platform, addressing this huge market demand."
"Cynet brings to market a solution which is truly leveling the playing field for businesses looking to protect the internal network," said Shlomo Kramer. "For the first time, any size organization can implement the same grade security as large enterprise organizations, regardless of their size and regardless of limited resources or budget. The Cynet 360 platform saves organizations time, manpower and money, while giving them the backing of frontline protection, detection and response, as well as Cynet's 24/7 expert SOC."
Cynet 360 is a holistic software platform that secures the internal network of organizations, providing them with enterprise-grade security, regardless of their size. In under two hours, the Cynet platform implements, analyzes and begins detecting across tens of thousands of endpoints, giving security teams full visibility into traffic and communications. Cynet's 24/7 personalized CySoc provides frontline security expertise, all day, every day, preventing and responding to threats as they occur, giving an organization the confidence to go about its daily business with complete peace of mind.
"We feel confident going forward, especially with the backing of industry giants like Norwest and Shlomo Kramer," said Eyal Gruner, Cynet founder and co-CEO. This investment further empowers us in our mission of enabling any size company to achieve the same enterprise-grade security solution as large-scale organizations. Millions of endpoints around the world are protected by the Cynet 360 platform, and we're proud to be able to ensure that people sleep soundly, knowing that their assets are secured by Cynet."
Cynet is a pioneer in advanced threat detection, prevention and response. The Cynet 360 platform empowers organizations with a single enterprise-grade solution meeting all their security needs including Endpoint Detection & Response, User & Entity Behavior Analytics, Network Analytics, Deception and a 24/7 SOC. Cynet 360 covers thousands of endpoints in minutes, with no installation and minimal investment of time and resources. Providing unique visibility across the internal network, Cynet protects against attacks including ransomware, malware, insider threats and other previously unknown threats. The Cynet 360 platform's rapid, automated response and remediation, ensures highest level security, regardless of the threat.
About Norwest Venture Partners
Norwest is a premier multi-stage investment firm managing more than $7.5 billion in capital. Since our inception, we have invested in more than 600 companies and partner with over 140 active companies across our venture and growth equity portfolio. The firm invests in early to late stage companies across a wide range of sectors with a focus on consumer, enterprise, and healthcare. We offer a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Palo Alto and San Francisco, with subsidiaries in India and Israel. For more information, please visit www.nvp.com. Follow Norwest on Twitter @NorwestVP.
About Shlomo Kramer
Shlomo Kramer is a network security expert and serial entrepreneur, as well as the co-founder and CEO of Cato Networks, co-founder of Check Point Software (creators of the first commercial firewall) and co-founder of Imperva (innovators of the web application firewall). Shlomo made early investments in successful cybersecurity companies including Palo Alto Networks, Trusteer and others. He was named CEO of the Year by SC Magazine in 2008, one of "20 luminaries who changed the network industry" by Network World in 2006, and was inducted into the InfoSec Hall of Fame in April 2013. Shlomo holds a master's degree in computer science from The Hebrew University of Jerusalem and a Bachelor of Science degree in mathematics and computer science from Tel Aviv University.
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