Israeli cybersecurity startup Cyberpion emerges from stealth with $8.25 million in seed funding to help organizations identify and neutralize rising threats
In today’s evolving cyber landscape, enterprises require new security solutions that extend beyond the traditional perimeter-centric approaches, like firewalls and antivirus software, which don’t address ecosystem attacks. Recently, the Magecart hacking group has exploited online shopping cart systems to steal card payment data from eight US city websites, Forbes, TicketMaster, British Airways, and thousands of e-commerce sites by compromising third-party payment software. In 2019, Magecart-style attacks were estimated to have cost businesses over $1 billion.
Enter Cyberpion, an Israeli cybersecurity startup that enables organizations to see and manage their online ecosystem and protect them from vulnerabilities as it continues to expand. In 2020, Cyberpion’s research team continues to see an increase in the abuse of online infrastructures, including a campaign that has hit hundreds of enterprises and governments. In each of these cases, hackers abused web and DNS connections to misconfigured cloud infrastructures to gain a foothold inside the organization. With an ecosystem security solution, risky connections and vulnerable assets can be monitored and tracked with threats neutralized to help minimize attacks via this online infrastructure.
Today, Cyberpion announced it has emerged from stealth with $8.25 million in seed funding to boost its sales and marketing efforts while expanding and accelerating product development of its Ecosystem Security™ platform. The round was co-led by Team8 Capital and Hyperwise Ventures.
Founded in 2016 by Nethanel Gelernter and Ori Engelberg, the Tel Aviv, Israel-based Cyberpion offers a novel and critical approach for enterprises to discover and control the new attack surface created by their hyperconnected online ecosystems. The startup provides advanced security monitoring solutions for online assets (e.g., websites and cloud services) and their infrastructure supply-chain.
The Cyberpion platform is a SaaS solution with a distributed architecture and works immediately without any installation, configurations, or modifications. Cyberpion uniquely solves the problem of defending ecosystem vulnerabilities and neutralizing threats from attackers. Through its platform, security teams are able to identify and neutralize the rising threats stemming from vulnerabilities within online assets throughout an enterprise’s far-reaching, connected ecosystem.
Commenting on the funding, Cyberpion founder and CEO Dr. Nethanel Gelernter, said: “Following rapid growth in both research and development as well as winning new customers that include Fortune 500 companies, we are excited to emerge from stealth and champion the rising ecosystem security sector,”
Gelernter also added: “We appreciate Team8 Capital and Hyperwise Ventures’ recognition that cybersecurity needs to extend well beyond the enterprise’s own assets and perimeter, leveraging a more agile and proactive approach that is critical to protecting against far-reaching ecosystem attacks. Cyberpion looks forward to a close partnership with these two leading venture firms.”