Israel-based cybersecurity software developer Cymulate has received $15m of series B funding from investors including computing technology producer Dell and quantitative trading firm Susquehanna International Group (SIG).
The round was led by Vertex Growth Fund, the growth-stage vehicle for Singaporean government-owned venture capital firm Vertex Ventures, and included unnamed existing backers. Dell and SIG invested through Dell Technologies Capital and Susquehanna Growth Equity (SGE) respectively.
Founded in 2016, Cymulate offers an enterprise-grade cybersecurity platform that challenges the client’s IT defences by imitating real hacking attempts: an approach known as breach and attack simulation (BAS). The tests compile details of potential vulnerabilities while providing potential methods of mitigation.
The series B cash will support the company’s US growth, beefing up its sales, marketing and operational resources there. It also plans to extend its offering into on-premises, cloud and internet-of-things networks.
Cymulate has now raised $26m of funding in total, including a $7.5m series A round co-led by Dell Technologies Capital and Vertex Ventures in March this year that was also backed by SGE and Eyal Gruner.
SGE had led a $3m round for the company in early 2017, after Gruner had supplied an undisclosed amount of seed capital.
Eyal Wachsman, CEO of Cymulate, said: “We have enjoyed an exceptionally strong growth period during the past few months and we therefore decided to pre-empt with another round of funding shortly after our series A in order to leverage on the strong market adoption with additional resources to accelerate our expansion.
“We are delighted that Vertex Growth has joined as an investor and that our recent success has been recognised by our current funding partners who continue to show their commitment and belief in our technology.”