Cynomi raises $3.5 million Seed funding for virtual CISO platform
The Israeli startup launched its AI-based cybersecurity platform aimed at delivering enterprise-grade cybersecurity capabilities at scale
Israeli startup Cynomi, which develops a virtual CISO platform for service providers and SMBs, announced on Thursday that it has received $3.5 million Seed funding from Flint Capital, SeedIL, Lytical Ventures, and a group of business angels, including Nir Giller, co-founder of CyberX (acquired by Microsoft). The company also received two grants totalling $500,000 from Innovate UK.
Cynomi, which is led by a team of ex-Israel Defense Forces cybersecurity veterans, focuses on small and medium-sized businesses that rely on Managed Service Providers and Managed Security Service Providers for ongoing operations. With over 40% of the world’s companies having 500 or less employees, the middle market is a prime target for hackers. One-in-six firms attacked say their survival was threatened, with companies’ IT budget for cybersecurity jumping by 63%. Cynomi aims to address the growing cyber threats in the middle market by delivering enterprise-grade cybersecurity solutions at scale.
Cynomi CEO David Primor. Photo: Cynomi
“Billions of dollars are invested to secure enterprises, while SMBs are left behind. The small and mid-market companies are substantially less equipped to deal with the ever-growing threat landscape – lacking the budget and staff, they are more prone to the devastating impacts of possible attacks. We emulate a human CISO, automatically providing IT and cybersecurity teams with a focused assessment and a prioritized remediation action plan,” noted David Primor, co-founder and СЕО of Cynomi.
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Cyomi is currently working with HOT, one of the largest telecoms in Israel, and with a growing number of MSPs and MSSPs in the U.S., UK and Israel.
"When considering investments in a cybersecurity startup, leadership and the teams behind them are the first elements we examine. The Cynomi team has extensive experience in cybersecurity as well as solving the problems of the frequently targeted middle market," noted Sergey Gribov, partner at Flint Capital.