Security News > 2020 > June > Breach Protection Company Cynet Raises $18 Million in Series B+ Funding Round
Breach protection solutions provider Cynet on Monday announced that it has raised $18 million in a Series B+ funding round, which brings the total raised by the company to $38 million.
Cynet previously raised $13 million in a Series B funding round in June 2018.
The latest round was led by Telekom Innovation Pool, which is Deutsche Telekom's strategic investment fund advised by investment management group DTCP. BlueRed Partners, Merlin International, Norwest Venture Partners, and Ibex Investors also took part in the Series B+ round.
Founded in 2015, Cynet has developed a platform, named Cynet 360, designed to help organizations of all sizes detect threats and respond to incidents by automating monitoring, attack prevention and detection, and response orchestration capabilities.
"Cynet is addressing that problem at its core by combining a broad range of security features in a robust breach protection platform which enables its customer to reduce operational overhead, maintenance efforts, and manual inputs to a minimum."