Why We Invested in Cyware
Today we’re delighted to announce our second investment in Cyware, leading the Series C round after our previous investment in the company’s Series B. This New York-based company integrates next-generation, cloud-first SOAR with real-time threat intelligence in a completely innovative way. With its virtual Cyber Fusion platform, the company provides a new level of visibility, insight, and actionability to its rapidly expanding customer base. Cyware continues its tremendous, global growth with this next chapter – helping a vast number of security professionals strengthen their SOCs and focus resources on responding to the highest priority threats.
The Series C comes at the perfect time, because the company has found its traction in the market, built a tested and powerful platform, and has a clear plan to use the funding to accelerate its go-to-market efforts to bring its technology to more enterprises who can benefit from it.
On the technology side, Cyware is disrupting traditional SOAR solutions as the only provider of the technology behind its virtual Cyber Fusion platform. Cyber Fusion enables security professionals to utilize a unique type of shared threat intelligence coupled with automation and threat response. An exciting proof point for the Cyber Fusion approach is the traction found within the ISAC community (more than 20 ISACs are current customers, up from 12 at the time of our first investment). The ISACs have seen great benefit in Cyware’s purpose-built technology for rapid threat sharing to help enable their laudable mission of collective security and making our society safer.
On the team side, we could not be more excited about the individuals running the company. CEO and co-founder Anuj Goel is an experienced cybersecurity leader with almost a decade of experience at Citi, most recently as the Head of Global Cyber Strategy. While at Citi, Anuj led the programs to detect cyber threats and “lived” the customer problem that his team is working to solve today.
Cyware has figured out how to do something that few others have – help companies with shared threat profiles collaborate with one another in a safe and trusted way. It’s enabling a long sought-after holy grail of cybersecurity – “collective defensive” – which, now only made possible through a trusted platform like Cyware, can help companies can move faster and more effectively against attackers. And now, with the recent step change of what AI is capable of, what it can correlate and analyze when it comes to data in the cloud, there’s a new level of possibility for collective defense – really a turbo-charged level of protection.
Notably, the Cyware platform goes beyond this (truly revolutionary) shared collection intelligence interface. It also enables customers to move quickly and intentionally in response. Thanks to its vendor-agnostic, “any-to-any” orchestration and automation layer that connects to and integrates with whatever tools the customer already has in place to manage Cyber, IT, and DevOps workflows, customers benefit from a powerful response capability built on top of a uniquely insightful intelligence layer. That’s a killer combination.
The Series C comes at the perfect time, because the company has found its traction in the market, built a tested and powerful platform, really knows what kind of groups of companies it can help, and has a clear plan to use the funding to accelerate its go-to-market efforts to bring its technology to more enterprises who can benefit from it. We’re pleased to be joined in this investment with previous backers at Advent International. Cyware also has an incredible group of senior advisors helping them in their mission, and they add more talent to their global team every day. Ten Eleven is very excited to be part of this journey as Cyware moves to the next stage of its mission to help security professionals defend against threats with their Cyber Fusion platform.