Cyware raises USD10m for its Cyber Fusion solution
Cyware, a provider of cyber fusion solutions, has raised a USD10 million Series A round to enhance its threat intelligence automation, threat response, and security orchestration solutions.
This round was led by the Prelude Fund (the venture practice at Mercato Partners), and Tanium, a provider of unified endpoint management and security. Cyware's seed investors, Emerald Development Managers and Great Road Holdings, also participated in the round.
"This latest financing round is an important milestone in Cyware's journey. It strengthens our ability to continue our growth and become a more innovative, customer-centric company," says Anuj Goel, CEO and co-founder of Cyware. "As organisations begin to understand and address cybersecurity realities amid Covid-19, we've grown aggressively and expanded our solution and client portfolio to meet their evolving security needs. We wanted visionary investors who understand cybersecurity and can be our partners for long-term growth."
Cyware's virtual cyber fusion solution is the next evolution of Security Orchestration, Automation and Response (SOAR). It emphasises proactive engagement as the core of cybersecurity strategy. The company's goal is to help change the ecosystem of cybersecurity and optimise security operations by eliminating security team silos within organisations. The rise of distributed workforces, rapidly evolving cybercriminals, and rising security threats makes Cyware's solution even more relevant today.
Cyware will use the funding to expand its sales and marketing teams, double down on customer success, and continue use case innovation and product enhancements to its situational awareness platform (CSAP), threat intelligence eXchange (CTIX), security orchestration layer (CSOL) and fusion and threat response (CFTR).
"We are thrilled to partner with Cyware on their mission to better predict and prevent attacks through cyber fusion and a collective defense," says Zach Sivertson, managing director at Prelude. "Because cyberattacks are increasingly sophisticated and damaging and the pandemic is driving long-term remote work, Cyware's proactive solutions deliver decision makers the tools and protections they need."
Cyware's vision is to create new automation capabilities so security teams can be more responsive, efficient, and effective. Cyware's "smarter automation" balances machine speed with human insight and analysis. Other innovations from Cyware focus on flexibility for integrations and varying environments, such as cloud, hybrid and on-premises solutions making collaboration and intel sharing easier and more accessible for security teams.
"Our joint customers believe that Cyware is advancing the state of the art of security operations, building on security orchestration and automation and fusing it with threat intelligence and triage to help teams surface and respond to the most critical threats," says Orion Hindawi, co-founder and co-CEO, Tanium. "Our investment in Cyware and partnership with them will accelerate our joint value to our customers in this emerging category."