In a significant development for the cyber security ecosystem, Vulcan Cyber, the Tel Aviv-based cyber risk management platform developer, has successfully closed its Series B funding round with a $34m investment. This latest investment brings the total amount raised by Vulcan Cyber to an impressive $70m.
The funding round was spearheaded by Maor Investments and Ten Eleven Ventures, with additional contributions from existing investors Dawn Capital and Wipro Ventures. The funds are set to be utilized to drive product innovation, facilitate expansion into new markets, accelerate revenue growth, and build on the company’s current market momentum.
Vulcan Cyber, under the leadership of CEO Yaniv Bar-Dayan, has made significant strides in developing a platform that aids businesses in reducing vulnerability and asset risk through efficient and measurable attack surface security. The platform manages the entire vulnerability remediation lifecycle, from scanning to fixing, by aggregating risk and asset data, prioritizing vulnerabilities using business context, curating and delivering optimal remedies, and automating mitigation processes up until the final stages of remediation.
The company is extending its platform capabilities to support comprehensive exposure management, moving beyond traditional vulnerability management. This will include application security posture management (ASPM), cyber asset attack surface management (CAASM), risk-based vulnerability management (RBVM), and exposure and risk analytics.
Demonstrating remarkable growth, Vulcan Cyber more than doubled its annual recurring revenue in the trailing twelve months through Q3 2023, while aligning with current market requirements for operational efficiency. This funding round marks a significant milestone for Vulcan Cyber in its journey to redefine cyber risk management and vulnerability remediation.
As cyber threats continue to evolve and expand, companies like Vulcan Cyber play a pivotal role in providing businesses with the tools they need to effectively manage and mitigate risk. With this new funding, Vulcan Cyber is well-positioned to further its mission of reducing global cyber vulnerability.