Total amount raised
$153 Millions
Latest funding date
12/01/2021
Location
CyCognito has successfully raised significant funding over multiple rounds, positioning itself as a key player in the cybersecurity industry. The company specializes in external attack surface management and continuous security testing, offering a comprehensive platform to its clients.
Keep reading to explore the intricacies of CyCognito's fundraising journey and the investors backing this innovative platform.
What Is CyCognito?
CyCognito, founded in 2017 by Dima Potekhin and Rob Gurzeev, is headquartered in Palo Alto, California. The company specializes in external attack surface management and continuous security testing, offering a comprehensive platform to its clients. With a team of 101-250 employees, CyCognito leverages advanced machine learning and natural language processing to help organizations identify, understand, and manage their cyber risks.
How Much Funding Has CyCognito Raised?
- Seed Round
- Amount Raised: $5M
- Date: January 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its initial platform.
- Series A
- Amount Raised: $18M
- Date: November 2019
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and scale operations.
- Series B
- Amount Raised: $30M
- Date: July 2020
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance product offerings.
- Series C
- Amount Raised: $100M
- Date: December 2021
- Lead Investors: The Westly Group
- Valuation at Round: $800M
- Motivation Behind the Round: To expand operations and business reach.
Total Amount Raised: $153M. Current Valuation: $800M.
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, sustainable energy.
- Notable Investments: Tesla, Redaptive.
- 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 since the Series A round.
- 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 in the enterprise and consumer sectors. They have been an existing investor in CyCognito since the Series A round.
- Investment Focus Areas: Enterprise, consumer, health sectors.
- Notable Investments: Snap, Nest, GrubHub.
- Thomvest Ventures
- Details: Thomvest Ventures is a venture capital firm that invests in technology, financial services, and real estate. They participated as a new investor in CyCognito's Series C round.
- Investment Focus Areas: Technology, financial services, real estate.
- Notable Investments: Kabbage, LendingClub.
- The Heritage Group
- Details: The Heritage Group is an investment firm with a focus on infrastructure, materials, and environmental services. They participated as a new investor in CyCognito's Series C round.
- Investment Focus Areas: Infrastructure, materials, environmental services.
- Notable Investments: Calumet Specialty Products, Biosynthetic Technologies.
What's Next for CyCognito?
CyCognito stands at the cusp of significant growth, driven by the increasing demand for robust cybersecurity solutions. With a platform that leverages advanced machine learning and natural language understanding, the company is well-positioned to expand its customer base, particularly among Fortune 500 companies and government organizations. The recent $100 million Series C funding round underscores the vast opportunities available, enabling CyCognito to enhance its platform and scale operations.
Future fundraising opportunities appear promising as the company continues to demonstrate substantial growth and technological advancements. The involvement of prominent investors like Accel and Lightspeed Venture Partners suggests strong potential for additional funding rounds. However, CyCognito will need to navigate challenges such as intense competition and rapidly evolving cyber threats. Ensuring the platform's scalability and reliability will be crucial as the company aims to maintain its growth trajectory and market leadership.
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