Cynet has closed a US$40 million Series C funding round led by Greenfield Partners with participation from existing investors Norwest Venture Partners, Vintage Investment Partners, BlueRed Partners and Deutsche Telekom. The investment will be used to meet the vigorous demand for Cynet’s Autonomous XDR Platform from companies of all sizes. Following a steep rise in sales in North America during 2020, Cynet is poised to maintain its rapid expansion in the North American and European markets.
“Cynet has experienced exponential growth by solving a real problem, eliminating the complexity involved with effective cyber security,” said Eyal Gruner, Co-Founder and CEO of Cynet. “This round of financing will allow us to expand our team to meet client and market demand.”
“The massive surge in interest and demand for Cynet’s offering confirms that organisations of all sizes need intuitive and affordable approaches to cyber security,” said Avery Schwartz, Partner at Greenfield Partners. “Cynet proves that effective breach protection doesn’t have to be costly and complex by simplifying, consolidating and automating the critical technologies required to protect against modern day threats.”
The company has also announced that cybersecurity researcher Chris Roberts is joining Cynet in the role of Chief Security Strategist. Roberts will leverage his 20+ years’ security experience to assist and guide organisations of all sizes that are looking to simplify their cyber security solutions and services through consolidation and automation.
“I empathise with security teams stationed in resource-constrained organisations that are struggling to protect their people and companies from the continuous barrage of digital threats,” said Roberts. “I look forward to working with these clients to develop and implement enterprise-grade defence and risk reduction techniques using a combination of pragmatic operational practices and modern, integrated technologies such as Cynet’s automated, consolidated protection platform.”