Funding round led by Dawn Capital will support growth of
Vulcan Cyber for cloud, IT and application security while
delivering the industry's first free risk-based vulnerability
management platform
TEL AVIV, Israel, March 17, 2021 /PRNewswire/ -- Vulcan
Cyber®, developers of the industry's only vulnerability remediation
orchestration platform for application and cloud security, today
announced it has secured a $21
million Series B round led by Dawn Capital with
participation from Wipro Ventures and existing Vulcan Cyber
investors YL Ventures and Ten Eleven
Ventures. The company will use the funds to support the rollout of
new vulnerability remediation solutions for cloud and application
security teams, and to deliver Vulcan Free. Vulcan Free is the
industry's first, free risk-based vulnerability management (RBVM)
platform for vulnerability and cyber risk prioritization.
Vulcan Cyber experienced 500 percent growth in annual recurring
revenue (ARR) in 2020. Its new funding will be used to satisfy
substantial global demand for a SaaS solution that goes beyond
vulnerability scanning and management to help IT and security teams
achieve remediation outcomes and get fix done. The Vulcan Cyber
platform helps enterprise teams collaborate from scan to fix to
orchestrate and analyze remediation campaigns at scale.
"The launch of Vulcan Free underscores the Vulcan Cyber
philosophy that vulnerability prioritization is not an end goal,
but simply one element in proper remediation. Vulcan Free changes
decades-old market dynamics that only focus on vulnerability
identification instead of driving remediation outcomes. Remediation
orchestration is the only viable way to deliberately align
vulnerability management with the needs of digital business and
cloud and application environments," said Yaniv Bar-Dayan, Vulcan Cyber CEO and
co-founder. "This round of funding allows us to make these critical
security tools available to more organizations free of cost, so
they can get fix done."
In addition, Vulcan Cyber announced that Henry Mason, Dawn Capital principal, will join
John Brennan, YL Ventures partner,
and Mark Hatfield, Ten Eleven Ventures founder and general partner,
as the newest addition to its board of directors.
Mason said, "Vulcan Cyber has seen explosive growth over the
last year, signing landmark customers across every vertical. As
attack surfaces continue to grow exponentially, the Vulcan Cyber
next-generation solution resonates powerfully with an IT security
market that has historically lacked effective vulnerability
management tools. Vulcan Cyber makes it possible to actually
remediate vulnerabilities by fostering collaboration across teams
and automating the work of remediation from scan to fix. We are
thrilled to be supporting the team to deliver this new stratum of
security solutions."
Almost all exploited vulnerabilities are known by security and
IT teams at the time of the incident. Vulnerability remediation
windows currently span months or years and plague enterprises with
limited capacity to address them before they disrupt the
business.
Scott Crawford, Security Research
Director for 451 Research, part of S&P Global Market
Intelligence, said, "With advances in vulnerability scanning and
asset management tools, it is relatively easy for security teams to
collect data from a wide variety of IT assets and computing
environments. This has led to increased visibility within an
organization, but with the explosion of IT assets, resource-starved
security teams are having trouble handling the resulting increase
in vulnerabilities and alerts. Remediation becomes difficult as
security and IT must work to find a balance between availability
and stability and the fact that some assets must be taken offline
for patching. As more vulnerabilities are discovered, teams quickly
realize they cannot feasibly resolve them all, so they are left
with figuring out which vulnerabilities to prioritize and
remediate."1
The Vulcan Cyber remediation orchestration platform uses
step-by-step, orchestrated workflows and automation to fix
vulnerabilities quickly and at scale with the tools already in use
by DevOps, IT and security teams. Vulcan is used to prioritize
vulnerabilities, get the right remedies to the right people,
integrate with dozens of best-of-breed tools, and automate
remediation tasks at scale.
Vulcan Cyber will use the round to fuel product R&D and
further extend its leadership position in cloud and application
security through vulnerability remediation orchestration. The
company will also continue to enhance its freemium strategy with
Remedy Cloud, the world's largest free database of vulnerability
intelligence, and will introduce Vulcan Free as the only free
vulnerability prioritization and risk-based vulnerability
management platform. The Vulcan Cyber mission to help businesses
reduce risk and "get fix done" is manifest in these free services
and its willingness to give back to the cyber security
community.
The company will also use its Series B to enhance direct sales
while expanding its channel program and managed security service
provider (MSSP) relationships. Businesses of all sizes and
industries now have the ability to significantly reduce their
attack surface and improve cyber hygiene with free access to all
the solutions needed to effectively fix vulnerabilities that
generate unnecessary business risk.
Visit the Vulcan Cyber BrightTalk channel for additional
insights, demos and case studies from companies like Snowflake,
Levi Strauss, HBO Max, and Akamai.
For more information about Vulcan Cyber, please visit
https://vulcan.io/ or try Remedy Cloud today. Fifty Vulcan Free
instances are now available via an initial, limited release.
Additional instances will be made available soon. Apply for Vulcan
Free access today.
About Vulcan Cyber
Vulcan Cyber has developed the
industry's first vulnerability remediation orchestration platform,
built to help businesses reduce cyber risk through measurable cloud
and application security. The Vulcan platform orchestrates and
tracks the remediation lifecycle from scan to fix by prioritizing
vulnerabilities, curating and delivering the best remedies, and
automating processes and fixes through the last mile of
remediation. Vulcan Cyber helps IT security teams collaborate and
"get fix done" at scale. Vulcan Cyber is proud to offer Remedy
Cloud and Vulcan Free as freemium SaaS solutions for businesses of
all sizes. The unique capability of the Vulcan Cyber platform has
garnered Vulcan Cyber recognition as a 2019 Gartner Cool Vendor and
as a 2020 RSA Conference Innovation Sandbox finalist.
https://vulcan.io
About Dawn Capital
Dawn Capital is Europe's leading specialist B2B software
investor, with assets under management of $1bn. The firm partners with innovative companies
that, through exceptional teams, products, and business models can
become category-defining, global titans. Dawn is an early-stage
investor, backing companies at Series A and B, and continuing to
fund the best-performing from growth rounds through to exit. Its
roster of investments includes Mimecast (now NASDAQ-listed with a
$3.0bn market cap), iZettle (sold to
PayPal for $2.2bn cash), Collibra,
Dataiku, Showpad, Templafy, Quantexa, Soldo, and Tink, amongst
others. Read more at www.dawncapital.com.
About Wipro Ventures
Wipro Ventures is the
strategic investment arm of Wipro Ltd. (NYSE: WIT) and focuses on
investing in early-to mid-stage startups. The venture arm leverages
Wipro's global reach and market knowledge to accelerate the growth
of its portfolio companies. Wipro's broad customer base of Global
1000 clients provides a better understanding of customer needs and
market trends, providing valuable guidance to portfolio companies.
For more information, please visit
https://www.wipro.com/en-US/innovation/ventures/.
About YL Ventures
YL Ventures funds and supports
brilliant Israeli tech entrepreneurs from seed to lead. Based in
Silicon Valley and Tel Aviv, YL
Ventures manages over $300 million
and specializes in cybersecurity. YL Ventures accelerates the
evolution of portfolio companies via strategic advice and
U.S.-based operational execution, leveraging a powerful network of
Chief Information Security Officers and global industry leaders.
The firm's track record includes successful, high-profile portfolio
company acquisitions by major corporations including Palo Alto
Networks, Microsoft, CA and Proofpoint. For more information, visit
www.ylventures.com.
About Ten Eleven
Ventures
Ten Eleven
Ventures is the original venture capital firm focused solely
on investing in digital security. The firm invests globally and at
all stages, from seed to growth (the latter via its Joint
Investment Alliance with KKR). Since its founding in Silicon Valley
in 2015, Ten Eleven Ventures has
raised nearly $US 500 million and
invested in 27 leading cybersecurity companies including Twistlock,
Verodin, Cylance, KnowBe4, Darktrace, and Ping Identity. For more
information, please visit www.1011vc.com or follow us on Twitter
@1011vc.
1 "Vulcan Cyber adds risk-based vulnerability
prioritization and analytics to its remediation orchestration
offering," January 6, 2021, 451
Research, part of S&P Global Market Intelligence.
Media contact:
Dex
Polizzi
Lumina Communications on behalf of Vulcan Cyber
vulcan@luminapr.com
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SOURCE Vulcan Cyber