The cybersecurity platform, CyCognito, whose purpose is to shed light on weak spots of a company’s security, has been able to raise the sum of $23 million in the first round of its Series A funding.
The fundraise was headed by Lightspeed Partners who opened up the fundraise with $18 million with a personal investment from John Thompson, a Lightspeed venture partner and a former chairperson at Microsoft. Sorenson Ventures were also in participation. Existing investors in the startup also put in $5 million, UpWest and Dan Scheiman inclusive.
The cybersecurity platform has stated that its software-as-a-service platform is able to
“autonomously discover, enumerate, and prioritize each organization’s security risks based upon a global analysis of all external attack surfaces.”CyCognito
With this in mind, it is conclusive to say that the platform is able to measure an entire attack surface (I.e holes and flaws) of a company. This omniscient nature is achieved by maintaining thousands of bot crawling over the internet aimed at active and unsecured devices. The database of the platform which is replete with such digital assets will thus enable them to be knowledgeable on the grounds of attacks.
The platform boast of a few dozen users across corporate firms, healthcare and financial verticals. With the money from the funding, the startup has planned to widen its horizon to reach more enterprise clients through its engineering and sales team.