CyberX Raises Additional Funds

Tuesday, February 27, 2018 @ 02:02 PM gHale

Industrial cybersecurity startup CyberX raised $18 million in a Series B funding round, which means the total raised by the company so far in its short existence is $30 million.

The latest funding round was led by Norwest Venture Partners, which also invested in FireEye and Symantec-acquired Fireglass, with participation from previous investors Glilot Capital Partners, Flint Capital, ff Venture Capital, and OurCrow.

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CyberX plans on using the additional funding to continue its expansion in Europe and the United States, drive international growth, and expand its product development, research, and threat intelligence teams.

Founded in 2013 by military cyber experts Nir Giller and Omer Schneider, CyberX offers a platform that continuously monitors networks and collects data to help detect potentially malicious activity.

In addition, CyberX just unveiled simulation technology designed to help predict breach and attack vectors.

CyberX officials said its product has been used by Global 2000 organizations across the energy and utilities, chemical, oil and gas, manufacturing, and other critical infrastructure sectors.

“There is a growing need in many enterprises to connect their IIoT and ICS networks to corporate IT networks for performance, monitoring, and manageability reasons. This trend creates a new security risk which requires a modern, IIoT-optimized, security solution.” said Dror Nahumi, general partner at Norwest Venture Partners. “We are extremely impressed with CyberX’s solution and its successful adoption with top-tier enterprise customers across multiple verticals.”

CyberX previously raised $20,000 in 2013, $2 million in 2014, and another $9 million in 2016, which, along with some add-on investments to the Series A round brought the total raised so far to $30 million.

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