Cybersixgill plans to use the funds to enhance its threat intelligence solutions. Here are the top-line bullets you need to know.
Cybersixgill, a provider of cyber threat intelligence, has raised $35M in a Series B round that drew participation from More Investment House, Elron Ventures, and REV Venture Partners, among others.
HOW’S THE COMPANY PERFORMING?
- Israel-based Cybersixgill analyzes dark web activity in order to help organizations detect and prevent cyberattacks and data leaks.
- The company states that it has grown its revenue by 4x and doubled its global footprint over the past 3 years.
- Its customers are spread across North America, EMEA, and the APAC region — some of its customers include Crowdstrike, Radware, CyberProof, and f5.
- Cybersixgill has offices in Boston and Tel Aviv.
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.
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