Tel Aviv-based Vulcan Cyber, a cybersecurity startup that helps companies prioritize and repair safety vulnerabilities, in the present day introduced that it has raised a $21 million Sequence B funding spherical led by Daybreak Capital. Wipro Ventures and present buyers YL Ventures and Ten Eleven Ventures additionally participated on this spherical. The corporate says it would use the brand new funding to roll out new remediation options and launch a free risk-based vulnerability administration platform beneath the Vulcan Free monicker.
With this new spherical, Vulcan Cyber’s complete funding up to now is now $35 million. The corporate says it noticed 500% development in annual recurring income and new buyer account metrics in 2020, with every person usually having between 10 and 100 customers on the platform.
The corporate’s emphasis has all the time been on not simply warning its clients about potential vulnerabilities but additionally serving to them prioritize them primarily based on the severity of the chance and the menace to an organization’s enterprise property. Safety groups, in spite of everything, are sometimes overwhelmed by alerts and never each vulnerability a scanner represents is a high-priority threat for a enterprise. The promise of Vulcan Cyber’s platform is that it helps these groups work out the place to finest focus their sources.
Whereas the funding is the headline information in the present day, Vulcan’s new free providing can also be value a more in-depth look.
“Cybersafety professionals have used open-source vulnerability scanners like Nessus for nearly twenty years. Extra lately, vulnerability administration applications have used risk-based vulnerability administration instruments to prioritize scan outcomes to find out particular threat to the enterprise and focus the remediation effort. The scan and prioritize capabilities are elementary, vital parts of any mature remediation program,” Yaniv Bar-Dayan, Vulcan Cyber’s CEO and co-founder mentioned concerning the new free providing. “However now the trade has a free vulnerability prioritization engine to enhance the scanners. This spherical of funding permits us to supply the Vulcan Free service to the cybersafety trade to assist companies obtain cyber hygiene. This transfer shifts the economics of our market and can push CISOs and CIOs to dedicate extra finances and sources not simply on easy scan and prioritize paper pushing, however on driving precise remediation outcomes. We hope this may assist the trade get repair completed extra successfully.”
With this new free providing, Vulcan’s freemium portfolio now consists of Vulcan Free, which gives among the firm’s core prioritization and vulnerability administration options, and its present free vulnerability intelligence database.