Israeli startup Vulcan Cyber secures $21 million series B for vulnerability remediation platform

Israeli cybersecurity startup Vulcan Cyber announced it has completed a $21 million series B round led by Dawn Capital with participation from Wipro Ventures and existing investors YL Ventures and Ten Eleven Ventures. The new round took Vulcan's total funding to date to $35 million.

Vulcan Cyber said it experienced 500% growth in annual recurring revenue (ARR) in 2020. The company currently employs 40 people and plans to increase its workforce to around 100 following the funding round.

The Vulcan Cyber remediation orchestration platform uses step-by-step, orchestrated workflows and automation to fix vulnerabilities quickly and at scale with the tools already in use by DevOps, IT and security teams.

Vulcan's Tal Morgenstern (from right), Yaniv Bar-Dayan and Roy Horev. Photo: Maxim Dinstein

"The launch of Vulcan Free underscores the Vulcan Cyber philosophy that vulnerability prioritization is not an end goal, but simply one element in proper remediation. Vulcan Free changes decades-old market dynamics that only focus on vulnerability identification instead of driving remediation outcomes. Remediation orchestration is the only viable way to deliberately align vulnerability management with the needs of digital business and cloud and application environments," said Yaniv Bar-Dayan, Vulcan Cyber CEO and co-founder. "This round of funding allows us to make these critical security tools available to more organizations free of cost, so they can get fix done."

In addition, Vulcan Cyber announced that Henry Mason, Dawn Capital principal, will join John Brennan, YL Ventures partner, and Mark Hatfield, Ten Eleven Ventures founder and general partner, as the newest addition to its board of directors.