CardinalOps plans to use the funds to invest in product innovation and go-to-market activities. Here are the top-line bullets you need to know.
CardinalOps, a provider of AI-based threat detection technology, has raised $17.5M in a Series A round that drew participation from Battery Ventures, Symbol Capital, and Viola Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- Israel-based CardinalOps helps security operations center teams leverage analytics to optimize their cyber defenses.
- The platform automatically recommends best practices in the native query language of tools like IBM QRadar, Splunk, Sentinel, and Crowdstrike.
- CardinalOps is currently supported by a team of 22 employees across its offices in Tel Aviv, Israel, and California.
Source: CardinalOps
WHY DOES THE MARKET MATTER?
- The global cybersecurity market is expected to reach a value of $478.7B by 2030, growing at a CAGR of 9.5%, according to Allied Market Research.
- The acceleration of digital trends has left companies more dependent on technology than ever, opening the door to more frequent and devastating cyber-attacks. The growing number of complex attacks and the need for secure networks in hybrid (online-offline) environments are fueling the market’s growth.
- Increased digitization amid the Covid-19 pandemic has also contributed to market growth.
