Paris-based CybelAngel secures $36M in Series B funding to prevent data breaches with AI
CybelAngel, a cybersecurity startup and a digital risk management platform that provides enterprises with actionable threat intelligence, announced today it has raised $36 million in series B funding to accelerate global expansion, build strategic partnerships and advance the capabilities of its unique AI-powered technology platform.
The investment round, which brings the company’s total funding to $52 million, was led by Prime Ventures and joined by a coalition of U.S.-based entrepreneurs and a consortium of European venture capital firms. In conjunction with the round, CybelAngel also announced that Pieter Welten, Partner at Prime Ventures, has joined its Board of Directors.
Founded in 2013 by Erwan Keraudy, Matthieu Finiasz, and Stevan Keraudy, the Paris, France-based CybelAngel’s approach to data-leak detection combines Artificial Intelligence and human expertise. Smart algorithms ensure rapid and precise detection, while machine learning focuses alerts based on what is most important to their clients. And yet it’s not machines that put together your alerts – it’s people. Its cyber analysts compile a report for every incident, with all the information needed for a swift remediation. The company helps companies to find data that has been stolen, or data that has been leaked by accident – generally by third-party partners and suppliers. Its solution scans the visible, deep and dark webs, but it is also the only one scanning the major source of negligent leaks: Connected Storage.
“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,” said Welten.
Enterprise data is now shared on more third-party platforms than ever before. In data centers, on the cloud, on connected or IoT devices, and among external contractors and vendors, the threat of critical data leaks beyond a company’s firewall grows every day. 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 cyber-resilience due diligence frameworks.
CybelAngel detects over one billion documents per day, and uses artificial intelligence to assess the sensitivity of the information it finds. The company’s platform helps enterprises manage digital risk in real time by providing relevant, actionable information, enabling effective remediation and takedown. CybelAngel empowers organizations to protect their intellectual property, brand, and reputation with a solution that complies with global regulatory requirements.
Working closely with global Fortune 500 customers in Europe and North America, CybelAngel is shaping the future of threat intelligence and digital risk management by combining innovative machine learning with the best of human intelligence and analysis.
“CybelAngel is the most cutting-edge digital risk management platform known today, and the continuous innovations they bring are helping us monitor and protect our assets proactively,” said Jean-Yves Poichotte, a CybelAngel customer and Global Head of ITS Cyber Security at Sanofi, a global biopharmaceutical company.
“The acceleration of digital transformation and the proliferation of connected devices has created an explosion of both malicious and negligent risks,” said Erwan Keraudy, CEO, CybelAngel. “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.”