CYE, a Tel Aviv, Israel-based organization with a quest to help enterprises recognise “real-life” cyber threats by leveraging humans and computers, today reported that through a fundraising round led by private equity group EQT, it has secured $100 million in growth capital.
CYE lets enterprises distribute money and concentrate on remediation efforts more efficiently by analyzing potential threat routes to sensitive properties, and can battle-test how defense techniques change over time.
The company states that it performs “non-simulated attacks” by exploiting ethical hackers, together with its technologies, to provide deep operational analyses, present actual business threats and provide cost-effective remediation strategies to maximize protection investments.
Hyver, the flagship tool of the organization, performs cybersecurity audits that include all internal properties and third-party vendors. Then, CYE says, to anticipate potential attack paths, red teams carry out “real” attacks and give consumers the ability to avoid those attacks before they appear in the hands of malicious actors.
Established in 2012, Sharon Argov, CMO at CYE, told that the business was initially self-funded and profitable from the outset. “The financing direction of CYE is special and it is difficult to look at it from the classic model of venture capital. Several years back, we raised an undisclosed seed round and our latest rise from the private equity company, EQT, is a development round.
CYE reportedly has 80 staff and is based in Israel and has branches in the US and UK.
In the funding round, Venture Capital group 83North also participated.