Total amount raised
$73 Millions
Latest funding date
06/01/2023
Location
Cyware has successfully raised funds through multiple rounds, with its latest being a Series C round. The company specializes in cybersecurity automation and threat intelligence solutions, helping businesses detect and stop cyberattacks.
Keep reading to explore the intricacies of Cyware's fundraising journey and the investors backing this innovative platform.
What Is Cyware?
Cyware, founded in 2016 by Akshat Jain and Anuj Goel, is based in Jersey City, New Jersey. The company specializes in cybersecurity automation and threat intelligence solutions. With a team of 251-500 employees, Cyware helps businesses detect and stop cyberattacks through advanced technology and secure collaboration.
How Much Funding Has Cyware Raised?
- Seed Round
- Amount Raised: $3M
- Date: September 2019
- Lead Investors: Emerald Development Managers
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial cybersecurity solutions.
- Series A
- Amount Raised: $10M
- Date: August 2020
- Lead Investors: Prelude Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enhance threat intelligence capabilities.
- Series A (Second Round)
- Amount Raised: Not publicly disclosed
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and improve cybersecurity automation.
- Series B
- Amount Raised: $30M
- Date: March 2021
- Lead Investors: Advent International, Ten Eleven Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Series C
- Amount Raised: $30M
- Date: June 2023
- Lead Investors: Ten Eleven Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To boost sales, visibility, channel business, and strategic alliances.
Total Amount Raised: $73M
Current Valuation: Not publicly disclosed
Key Investors
- Ten Eleven Ventures
- Details: Ten Eleven Ventures is a leading multi-stage investment firm specializing in cybersecurity. They led Cyware's $30 million Series C financing round.
- Investment Focus Areas: Cybersecurity, Technology, Enterprise software
- Notable Investments: Darktrace, Verodin, Cylance
- Advent International
- Details: Advent International is a global private equity firm with a diverse portfolio across various sectors. They participated in Cyware's Series C round.
- Investment Focus Areas: Business services, Healthcare, Industrial
- Notable Investments: Laird, Olaplex, Sovos Brands
- Zscaler
- Details: Zscaler is a cloud security company that provides internet security, web security, and cloud security services. They contributed to Cyware's Series C round.
- Investment Focus Areas: Cloud security, Internet security
- Notable Investments: Not publicly disclosed
- Emerald Development Managers
- Details: Emerald Development Managers is a venture capital firm investing in early-stage companies. They were involved in Cyware's Series C round.
- Investment Focus Areas: Technology, Healthcare, Energy
- Notable Investments: Not publicly disclosed
- Prelude Fund
- Details: Prelude Fund is an early-stage venture capital fund. They participated in Cyware's Series C round.
- Investment Focus Areas: Technology, Healthcare, Consumer products
- Notable Investments: Not publicly disclosed
What's Next for Cyware?
Cyware stands at the cusp of significant growth opportunities, driven by the expansion of its AI-powered Cyber Fusion and Threat Sharing Networks. With a robust platform that integrates threat intelligence with data orchestration and workflow automation, Cyware is poised to enhance collaboration among security teams and third-party providers, thereby increasing its market adoption and customer retention.
Future fundraising opportunities appear promising as Cyware continues to demonstrate strong growth and innovation. The recent $30 million Series C round, led by Ten Eleven Ventures, underscores investor confidence. This momentum could attract further investments, enabling Cyware to expand its global footprint and form strategic alliances.
However, challenges lie ahead. Cyware must navigate the complexities of integrating new technologies while maintaining seamless operations. Additionally, staying ahead of evolving cybersecurity threats and ensuring effective collaboration among diverse security teams will be crucial for sustained success.
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