Noetic Cyber Secures $15M in Seed Funding

Noetic Cyber Secures $15 Million in Series A Funding

Noetic Cyber, a cloud-based platform focused on continuous cyber asset management and controls, has emerged from stealth mode. This launch is accompanied by a $15 million Series A funding round, spearheaded by Energy Impact Partners.

Investment Details and Leadership

Existing investors, TenEleven Ventures and GlassWing Ventures, also participated in this funding round. This brings the total capital raised by the startup to $20 million, following an initial $5 million seed round.

Shawn Cherian, a partner at Energy Impact Partners, will be joining the Noetic board of directors. Furthermore, Niloofar Razi Howe, a senior operating partner at the firm, will contribute to Noetic as an advisory board member.

Addressing the Cyber Asset Visibility Challenge

“Noetic represents a significant disruption in the market,” stated Howe. “It offers a novel solution to the increasingly critical issue of cyber asset visibility, a challenge that persists in today’s evolving threat environment.”

A Novel Approach to Cyber Asset Management

Based in Massachusetts, Noetic Cyber is pioneering a different strategy for managing cyber assets. Unlike conventional methods, Noetic avoids agent-based systems.

Instead, the platform utilizes API aggregation and correlation to gather insights from a variety of security and IT management tools.

Orchestration and Automation at the Core

“Our distinguishing factor lies in the integration of orchestration and automation,” explains Paul Ayers, CEO and co-founder of Noetic Cyber. “We don’t simply identify problems for security leaders; we actively assist them in resolving those issues.”

Experienced Founding Team

Ayers previously held a leadership position at PGP Corporation (later acquired by Symantec for $370 million) and Vormetric (acquired by Thales for $400 million).

He founded Noetic Cyber alongside Allen Roger and Allen Hadden, both of whom have extensive experience at cybersecurity companies like Authentica, Raptor, and Axent.

The three founders were also key contributors to the development of Resilient Systems, which was ultimately acquired by IBM.

Leveraging Expertise for Automated Solutions

“The team’s collective background in security, orchestration, automation, and response provides us with unique insights,” Ayers added. “This expertise allows us to prioritize automation as a fundamental component of our solution.”

“Our approach ensures the reliability needed for automation, with the ultimate goal of continuously identifying and rectifying vulnerabilities, restoring assets to a secure state.”

Impact of Current Cyber Trends

The development of Noetic’s technology has been influenced by the current cybersecurity landscape. The rise of cloud services and the increased use of unmanaged devices by remote workers, accelerated by the pandemic, have created a significant demand for precise cyber asset discovery and management.

Future Growth and Expansion Plans

Currently employing 20 individuals, the company intends to utilize the new funding to double its workforce by year-end. This expansion will also support increased go-to-market efforts in both the U.S. and the U.K., driving customer acquisition and revenue growth.

“This investment will enable us to continue expanding our development and product management teams, further enhancing our cyber asset management platform,” Ayers stated.

Continued Innovation and Product Roadmap

“The strength of our approach lies in its scalability, allowing us to readily integrate new applications and use cases onto our core asset visibility and management framework.”

Noetic plans to introduce additional connectors to support diverse customer needs. A comprehensive controls package is slated for release later in 2021, followed by a community edition in 2022.