Cymulate, an extended security posture management (XSPM) platform provider, has secured a $70 million Series D investment to accelerate its global expansion and pace of innovation, the company announced September 7.
One Peak, together with Susquehanna Growth Equity (SGE), Vertex Ventures Israel, Vertex Growth and Dell Technologies Capital, are funding the investment. Cymulate, which has 218 employees listed on LinkedIn, reports that it has now secured $141 million, effectively doubling investment to date. All five investors also backed Cymulate in its $45 million Series C funding in 2021.
The funding will be used to “extend its technological capabilities and further accelerate its global growth,” Cymulate said. The company, founded in Israel and headquartered in Dallas, Texas, claims more than 500 customers globally, including Fortune 500 companies and strategic partners such as Optiv and Wipro.
By the end of 2022, Cymulate plans to expand its staff by 75% to continue supporting its go-to-market efforts. The company recorded 100% revenue growth globally and 200% growth in North America in new bookings in 2021, MSSP Alert reported. It also increased its global workforce by 150%.
Eyal Wachsman, CEO and co-founder of Cymulate, explained the significance of the fresh infusion of cash:
“In a market where every business must be prepared to fight advanced threats, I am proud of our team’s ability to innovate and respond quickly to the constant turbulence of cybersecurity. Our funding from existing investors is a further testament to their confidence in our company, direction and continued vision. We look forward to reaching our next innovation milestones and expanding into new markets across the globe.”
David Klein, managing partner of One Peak, explained why his company is funding Cymulate once again:
“Cyber posture management and continuous security validation have dramatically increased in popularity in response to the onslaught of ransomware and cyber warfare for businesses across all size ranges. Cymulate is the clear leader in the sector, and we look forward to continuing to support the company in further accelerating its already strong growth trajectory.”
A Closer Look at Cymulate
Cymulate helps organizations use automation to continuously validate their threat exposure and cyber posture. It accomplishes this mission by testing their customer’s cloud and on-premise networks against the latest cyber threats, the company said. Cymulate’s XSPM platform applies native offensive security technology and capabilities to support customers’ security and business needs.
The XSPM platform is a cloud-based cybersecurity simulation-as-a-service offering that replicates cyberattacks against network and endpoint security infrastructure, the company explained. As such, MSSPs can assess whether their ability to handle cybersecurity threats.
Correspondingly, Cymulate offers its Unity Partner Program, which enables MSSPs and other partners to sell its attack and breach simulation platform. The program features include access to marketing collateral, technical support and training. MSSPs that join Cymulate’s partner program can integrate the platform into their offerings, thereby monitoring customers’ security posture and find ways to improve it.
Cymulate’s XSPM platform incorporates four fundamental pillars, tied together with analytics, to provide actionable security posture insights:
- Attack surface management
- Continuous automated red teaming
- Breach and attack simulation
- Advanced purple teaming
Cymulate Leadership Appointments Announced
Prior to joining Cymulate, Mastakas served as chief revenue officer for threat intelligence provider Digital Shadows (acquired by Reliaquest). She has also held executive leadership positions at Datashield, Integrated Business Solutions (IBS) and Metro Commercial Finance.
Crandall joins Cymulate from Attivo Networks (acquired by SentinelOne), where she also served as chief marketing officer and chief security advocate. Crandall has also held prior leadership positions at Cisco, Juniper Networks, Nimble Storage, Riverbed and Seagate.