Cyware, the leading provider of AI-powered Cyber Fusion platforms for enterprises and MSSPs, and automated threat intelligence sharing for information sharing networks, today announced a $30 million Series C financing round led by Ten Eleven Ventures, a leading multi-stage investment firm specializing in cybersecurity. Also participating are previous investors including Advent International, Zscaler, Emerald Development Managers, Prelude (the venture practice at Mercato Partners) and Great Road Holdings.
The Series C financing comes as Cyware has experienced strong year-over-year growth propelled by robust market adoption, excellent customer retention, and extraordinarily large market access. Since Series A financing, Cyware has shown growth of 6x and consolidated its position as an industry leader for threat intelligence automation, security orchestration, and collaborative threat response solutions. Earlier this year, Cyware achieved FedRAMP Ready status for its Cyber Fusion platform and was named one of the most innovative and promising cybersecurity companies by JMP Cyber 66, as well as being recognized in the 2022 Deloitte Technology Fast 500 as one of the Fastest Growing Technology Firms in North America.
Cyware’s cloud-based platform is leveraged by top Fortune 1000 and MSSP security teams to transform their legacy SOCs into Cyber Fusion Centers. The platform seamlessly integrates the AI-powered threat intelligence platform (TIP) with data orchestration and workflow automation (SOAR), to facilitate and synchronize actions between cloud and on-premises security tools and technologies. This enables security teams to connect the dots on emerging threats by correlating actionable threat intelligence with detection, threat hunting, vulnerability management, and incident response operations. Cyware’s Cyber Fusion platform is modular, and the underlying TIP, SOAR, and Collaborative Threat Response components can be leveraged in combination or individually by security teams providing them greater flexibility in transforming conventional SOCs.
The Cyware platform has become the backbone of global Threat Sharing Networks. Almost all major ISACs (Information Sharing and Analysis Centers), ISAOs, and CERTs use Cyware’s platform to automate threat intelligence sharing, analysis, and actioning for more than 30,000 enterprise members and government entities. The platform also enables large conglomerates, industry groups, and private communities to activate and share threat intelligence with their distributed businesses, clients, and suppliers, and benefit from automated collective defense against ransomware, supply chain attacks, and zero-day vulnerabilities.
“Security teams today face an overwhelming amount of data, but silos across data, processes, and technologies make it very challenging to see the bigger picture and proactively stop threats,” said Anuj Goel, Cyware CEO and Co-founder. “Our mission at Cyware is to break down these silos, integrate threat intelligence into SOC operations, make it easy for teams to automate response, and act immediately to anticipate and stop threats.”
“Threat actors thrive because the rest of us don’t collaborate enough,” said Alex Doll, Founder and Managing Member of Ten Eleven Ventures. “Only Cyware allows overstretched security teams to expand their risk visibility beyond their borders with innovative threat intelligence collaboration while dramatically improving response with vendor-agnostic orchestration and low-code automation. As seasoned investors in the cybersecurity field, we recognize that Cyware’s remarkable platform, revenue growth, and vast customer base – including over 20 ISACs – puts them in an enviable market position.”
Cyware plans to leverage this new round of funding to fuel further growth and accelerate channel business and strategic alliances while expanding its global footprint.
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