Based out of Paris, CybelAngel is a digital risk management platform that provides enterprises with actionable threat intelligence. In the latest development, the cybersecurity scale-up has closed its $36 million (approx €33 million) in Series B funding.
Prime Ventures leads the round!
Notably, Prime Ventures led the round alongside TempoCap, with participation from Bpifrance and Open CNP. Also, the company’s new investors include Datadog, Tenable, Black Duck Software former CEO Lou Shipley, and Neolane (acquired by Adobe) Co-Founder and former CEO Stephan Dietrich.
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AI-powered technology platform!
As per the company claims, the funding will be used to accelerate global expansion, strategic partnerships, and product advancement of their unique AI-powered technology platform. To date, the French company has raised $52 million (approx €47.6 million) in funding.
On the other hand, CybelAngel also announced that Pieter Welten, Partner at Prime Ventures, has joined the company’s Board of Directors.
CybelAngel’s technology is a must-have in every CIO’s cybersecurity posture. Their solution has already been successful at saving customers billions of dollars’ worth of potential damage from data leaks. We see an expansive global opportunity in CybelAngel, and we are excited to help them grow.
Detects over one billion documents per day!
Founded by Erwan Keraudy, Matthieu Finiasz, and Stevan Keraudy, the CybelAngel detects over one billion documents per day and uses artificial intelligence to assess the sensitivity of the information it finds.
It empowers organisations to protect their intellectual property, brand, and reputation with a solution that complies with global regulatory requirements. CyberAngel works closely with significant global Fortune 500 customers in Europe and North America as well.
Among top 5 global risks!
The World Economic Forum’s Global Risks Report 2019 ranks data theft and cyberattacks among its top five global risks, with an estimated price tag of $90 trillion if cybersecurity efforts do not keep pace with technological change. The detection of unprotected, at-risk data is now an essential part of standard cyber- resilience due to diligence frameworks.
Erwan Keraudy, CEO of CybelAngel, said:
The acceleration of digital transformation and the proliferation of connected devices has created an explosion of both malicious and negligent risks. This funding enables CybelAngel to expand globally to more countries and continue to innovate to protect enterprises’ most critical digital assets from costly data leaks. It will also support our expansion in North America, where the demand for digital supply chain protection and third-party risk management is growing exponentially.
Main image credit: CybelAngel
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