TEL AVIV, Israel, Feb. 10, 2021 /PRNewswire/ — CYE, the industry leader in cybersecurity optimization solutions, announced today that it has raised over $100 million in a financing round, led by the global investment organization EQT, with participation from existing investor, 83North. The investment – follows 5 years of partnership and will be used to continue CYE’s hyper-growth in the global market.
Since its inception in 2012, CYE has been committed to helping its customers take full control of their cybersecurity postures by enabling 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.
Hyver, CYE’s flagship product, uses advanced algorithms and graph modeling to conduct a comprehensive cybersecurity assessment, covering the entire organization, as well as third-party vendors. Highly experienced ‘red teams’ then perform real, non-simulated attacks, allowing CYE 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.
“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,” said Reuven Aronashvili, Founder and CEO of CYE.
“We have followed CYE’s development closely over the years and we are truly impressed. We are proud to support CYE, 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,” said Florian Funk, Partner at EQT. “We are excited to embark on this journey of building a global cybersecurity champion together.”
CYE brings a fact-based approach to organizational cyber defense, managing real business risks and optimizing cybersecurity investments. CYE serves as a trusted advisor to medium-size and Fortune 500 companies in multiple industries around the world. CYE has 80 employees, is headquartered in Israel, with offices in the US and UK.