Israel-founded Cymulate receives USD 70 million investment
One Peak has led a USD 70 million investment in Cymulate, with other investors including Vertex Ventures, Vertex Growth, SGE and Dell Technologies Capital. It takes the total raised by Cymulate to USD 141 million.
According to TechCrunch, the cost of cybercrime has been growing at an alarming rate of 15% per year, projected to reach USD 10.5 trillion by 2025. To cope with the challenges that this poses, organizations are turning to a growing range of AI-powered tools to supplement their existing security software.
Founded in Tel Aviv in 2016, Cymulate is a SaaS-based breach and attack simulation platform that makes it simple to “know and optimize your security posture any time, all the time and empowers companies to safeguard their business-critical assets”.
Erdinast, Ben Nathan, Toledano & Co., With Hamburger Evron acted for Vertex Ventures, Vertex Growth and SGE, with partners Roy Caner and Yael Benyayer, of the firm’s Hi-Tech and M&A department advising. Shibolet represented Cymulate, led by partner Eyal Gilboa and associates Tom Small and Roni Vilner, with partner Doron Mutai advising on tax aspects of the deal.
