Security Market Segment LS
Tuesday, 06 April 2021 10:10

Threat intelligence firm Cyble raises US$4m in seed funding

Manish Chachada and Beenu Arora. Manish Chachada and Beenu Arora. Supplied

Threat intelligence vendor Cyble has raised US$4 million (A$5.22 million) in a seed financing round led by Blackbird Ventures and Spider Capital, with Xoogler Ventures, Picus Capital and Cathexis Ventures also participating.

A statement from the company, which has its headquarters in Alpharetta, Georgia, said the money had been raised as it moved from Y Combinator which had accepted the company into its winter 2021 cohort and given it pre-seed funding in January.

Cyble co-founder and chief operating officer Manish Chachada said: We started this company with an ambitious goal: to equip organisations with real-time visibility into vulnerabilities in the cyber landscape and help safeguard their businesses.

"As we continue to deliver what modern organisations need, the seed funding reaffirms our strategy and vision. It will enable Cyble to on=board resources and scale our SaaS platform, Cyble Vision, in lockstep with our rapidly growing client base."

Cyble has signed a partnership with Aditya Birla Group Innovation Fund to jointly identify and engage in a pilot for application and use of Cyble's offerings at Aditya Birla Group.

The Aditya Birla Group is a 150-year-old multibusiness, multinational Indian conglomerate with US$45 billion in global revenues and the businesses are leaders in their respective industry spaces.

"Developing a system of early warning signals for threats to corporate assets arising from the dark web is a new frontier for our cyber security and is an area of high priority for ABG," said Shrenik Khasgiwala of ABG Innovation Fund.

"We are proud to partner with the Cyble team to take the lead in testing, refining, adopting and co-innovating new-age cyber security technologies with them."

Michael Neril of Spider Capital said: "We are excited to partner with Cyble as they scale their revolutionary SaaS platform focused on dark web monitoring. The founding team have deep domain expertise in this space, and we look forward to seeing their product gain further traction in this market."

Tom Humphrey of Blackbird Ventures said: "The Cyble team are wild hearts on a mission. We are struck by the progress they have achieved to date and believe they are only just getting started.

"Dark web monitoring and mitigation capabilities are front of mind for modern organisations and the market is growing rapidly."

Melbourne-based Beenu Arora, the other co-founder of Cyble and its chief executive, said: "We're really excited about what the next 18 to 24 months hold for Cyble.

"It's our mission to empower organisations to fortify against increasingly sophisticated cyber threats. We are extremely excited to welcome our new partners and have the additional resources to accelerate our product roadmap and better arm our clients with the tools they require to fight cyber crime."

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Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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