CYE News

We Secured Over $100 Million Funding Round

We are excited to announce that we’ve secured over $100 million financing round, led by the global investment organization EQT, with participation from existing investor, 83North. While we had many offers and interest from investors, we chose to partner with EQT on this journey, as they share our vision, values and understand the unique edge we bring to the market.

Our experts have been in the industry for decades and have tried and tested our approach time and time again, continuing to bring the best cybersecurity solutions to our customers. At CYE, we enable security leaders to identify which business assets are at risk, prioritize them based on critical business impact, and execute cost-effective remediation projects for optimal risk prevention.

Our flagship product, Hyver, uses advanced algorithms and graph modeling to conduct a comprehensive and accurate cybersecurity assessment, covering the entire organization, as well as third-party vendors. Our highly experienced ‘red teams’ then perform real, non-simulated attacks, allowing us to accurately predict possible attack routes, giving customers the ability to prevent such attacks before they occur, as well as the knowledge of where resources need to be invested. Our approach is, essentially, the closest an organization can get to experiencing a cyber attack without paying the consequences.

“As hackers increasingly deliver devastating attacks, causing millions of dollars in lost revenue and productivity, CEOs of global companies have come to understand that accurately assessing cyber risk begins with them,” said Reuven Aronashvili, Founder and CEO of CYE. “We are well past the point where companies can limit cyber threats to one department. Today’s attacks can hit the core of any business, essentially crippling the company. At CYE, we are laser-focused on building a company that fundamentally changes the way organizations approach cybersecurity, enabling them to accurately assess the most urgent threats to their business. As we continue to build on this foundation, we are thrilled to welcome EQT as our new partner and are very excited to kickstart CYE’s next phase of expansion and innovation, and look forward to working together to make today’s organizations safer.”

In addition to working with EQT and many of its portfolio companies, our customers include global tier-one and Fortune 500 companies.

“The backing of CYE marks EQT’s first deal in Israel, which is a highly attractive market for technology investments, and a country in which EQT intends to increase its activity going forward,” said Florian Funk, Partner at EQT. “We have followed CYE’s development closely over the years and we are truly impressed with the company Reuven and his team have built to date. Their approach of pairing AI-based technology, services and cyber expertise is unique in the marketplace and well-positioned for continued accelerated growth. We are proud to support CYE with both capital and competence as this investment aligns perfectly with EQT’s thematic investment focus and ambition to back high growth companies by partnering with world-class management teams. We are excited to embark on this journey of building a global cybersecurity champion together.”

“In my experience, I have come to learn that you don’t invest in companies, you invest in people. CYE’s team is one of the most outstanding I have ever worked with. They combine an innovative and bold vision with stellar execution capabilities,” added Yoram Snir, Partner at 83North. “CYE is transforming the multi-billion dollar market of enterprise cybersecurity and we believe they are well on their way to becoming the market leader.”

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By CYE | February 11, 2021