Company grows 100% in revenue, and over 150% increase in personnel
Launches community platform offering a supportive environment for security professionals
Cymulate, the Extended Security Posture Management market leader, today announced it has achieved 100% revenue growth globally, and 200% growth in North America in new bookings in 2021. The company, whose customers include Fortune 500 companies, increased personnel by 150% in North America, EMEA and APAC.
In May 2021, Cymulate announced a Series C funding round of $45M, bringing their total funding raised to date to $71M, led by One Peak, together with existing investors Susquehanna Growth Equity (SGE), Vertex Ventures Israel, Vertex Growth and Dell Technologies Capital. Another key business milestone in 2021 was an expansion of operations into Asia with Japanese telecoms giant NTT, building on Cymulate’s existing distributor agreements with NTT entities in the USA and Europe.
“2021 was the Year of Ransomware with cybercrime reaching an all time high,” said Eyal Wachsman, CEO and co-founder of Cymulate. “We can expect a continuation in these attacks in 2022 with a specific focus on supply chain attacks, however we are also seeing a positive trend in that decision makers at the business level are starting to pay attention and proactively seek solutions to mitigate damages. The result has impacted Cymulate with our solid growth continuing year-over-year. We have grown our stellar team tremendously, and we look forward to expanding both our team and services in 2022.”
Cymulate released the next generation Extended Security Posture Management (XPSM) platform leveraging its native, offensive security technology and capabilities to widely support customers’ security and business needs. XSPM incorporates four fundamental pillars tied together with analytics to provide meaningful security posture insights: Attack Surface Management, Continuous Automated Red Teaming and Breach and Attack Simulation alongside an Advanced Purple Teaming framework.
The company’s shift to XPSM followed several product launches including a customizable, template-driven platform that enables security service providers to craft, automate and deliver purple teaming exercises to help their enterprise customers actively protect their networks. Cymulate also released its Attack-Based Vulnerability Management to reduce risk exposure time via an assessment of all unpatched vulnerabilities and empowers security teams to efficiently prioritize patching their networks, resulting in shorter time to remediation and substantial savings. Cymulate Attack Surface Management provides visibility and protection of digital assets located outside the enterprise information network perimeter. The solution was also integrated with Microsoft Defender for Endpoint, EDR and TVM. Cymulate continues to further its platform development with the launch of a collaborative forum, enabling customers, partners and employees access to share working methods and best practices and access Cymulate’s latest products. For more information on the Hat Trick Community, see https://community.cymulate.com/.
Additional 2021 company highlights include:
- The appointment of Andrew Barnett as Chief Strategy Officer.
- The appointment of Wendy Hoey as Vice President of Alliances for the Americas, to lead the company in forming new strategic partnerships and to grow the company’s channel alliances.
- Won several awards including:
- Frost and Sullivan – Won Best Practices for Global Breach and Attack Simulation Product Leadership Award
- Cyber Defense Global InfoSec Award – Winner (Breach & Attack Simulation)
- Cybersecurity Excellence Awards – Winner, Gold (Breach and Attack Simulation)
- American Business Awards: The Stevies – Winner, Silver (Most Innovative Tech Company of the Year)
- SC Awards – Europe – Winner (Breach & Attack Simulation)
- American Security Today – ASTORS Awards – Platinum Winner (Breach & Attack Simulation)
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