How Much Did CyCognito Raise? Funding & Key Investors

CyCognito has successfully raised funding over four rounds, with the latest being a Series C round. The company is backed by 14 investors, including Thomvest Ventures and Harpoon.

Keep reading to explore the intricacies of CyCognito's fundraising journey and the investors backing this innovative platform.

What Is CyCognito?

CyCognito is a leading exposure management platform based in Palo Alto, California. The company operates in the fields of cloud security, cyber security, information technology, network security, and SaaS. Founded with the aim of creating a positive business impact, CyCognito is fully automated and highly scalable.

With an employee count ranging from 101 to 250, CyCognito has established itself as a significant player in the cybersecurity industry. The platform helps organizations discover, validate, and remediate critical exposures to reduce risk, offering features like attack surface management, automated security testing, and exploit intelligence.

How Much Funding Has CyCognito Raised?

1. Seed Round
   • Amount Raised: USD 5,000,000
   • Date: January 2018
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the development of CyCognito's exposure management platform.
2. Series A
   • Amount Raised: USD 18,000,000
   • Date: November 2019
   • Lead Investors: Lightspeed Venture Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale the platform and expand the team.
3. Series B
   • Amount Raised: USD 30,000,000
   • Date: July 2020
   • Lead Investors: Accel
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance platform capabilities and increase market reach.
4. Series C
   • Amount Raised: USD 100,000,000
   • Date: December 2021
   • Lead Investors: The Westly Group
   • Valuation at Round: USD 800,000,000
   • Motivation Behind the Round: To expand operations, grow the workforce, and enhance the platform's capabilities.

Total Amount Raised: USD 153,000,000. Current Valuation: USD 800,000,000.

Key Investors

• The Westly Group
  • Details: The Westly Group is a venture capital firm that invests in clean technology and sustainable energy. They led the Series C funding round for CyCognito.
  • Investment Focus Areas: Clean technology, energy, sustainability.
  • Notable Investments: Tesla, Redaptive, Enerkem.
• Accel
  • Details: Accel is a global venture capital firm that invests in early-stage and growth-stage technology companies. They have been an existing investor in CyCognito.
  • Investment Focus Areas: Early-stage technology, growth-stage technology.
  • Notable Investments: Facebook, Dropbox, Slack.
• Lightspeed Venture Partners
  • Details: Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the enterprise and consumer sectors. They are an existing investor in CyCognito.
  • Investment Focus Areas: Enterprise, consumer, health sectors.
  • Notable Investments: Snap, Nest, AppDynamics.
• Thomvest Ventures
  • Details: Thomvest Ventures is a venture capital firm that invests in early and growth-stage technology companies. They participated as a new investor in CyCognito's Series C round.
  • Investment Focus Areas: Cybersecurity, fintech, proptech.
  • Notable Investments: Kabbage, LendingClub, Health IQ.
• The Heritage Group
  • Details: The Heritage Group is an investment firm that focuses on innovation and technology across various industries. They joined as a new investor in CyCognito's Series C round.
  • Investment Focus Areas: Materials science, environmental services, industrial innovation.
  • Notable Investments: Heritage Environmental Services, Monument Chemical, Asphalt Materials.

What's Next for CyCognito?

CyCognito stands at the cusp of significant growth opportunities, driven by the increasing importance of cybersecurity in a digital-first world. The company’s advanced platform, leveraging Machine Learning and Natural Language Understanding, positions it well to expand its customer base among Fortune 500 companies and government organizations. With a total of $153 million raised, the potential for further market penetration and technological advancements is substantial.

Future fundraising opportunities appear promising, with the possibility of Series D and beyond as CyCognito continues to demonstrate its value in the cybersecurity sector. The company’s robust growth trajectory and investor confidence suggest that additional capital could be secured to fuel further expansion and innovation.

However, CyCognito will need to navigate challenges such as intense competition and rapidly evolving cyber threats. Maintaining scalability and reliability while continuously innovating will be crucial for sustaining its market position. As the company grows, ensuring diversity and inclusion within its workforce will also be essential to fostering a resilient and dynamic organizational culture.

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