Vulcan Cyber Secures $21 Million in Series B Funding

Vulcan Cyber, a Tel Aviv-based cybersecurity company specializing in vulnerability prioritization and remediation, has announced a $21 million Series B funding round. This investment was spearheaded by Dawn Capital, with participation from Wipro Ventures, YL Ventures, and Ten Eleven Ventures.

The newly acquired capital will be allocated towards the development of innovative remediation solutions and the launch of a complimentary risk-based vulnerability management platform, branded as Vulcan Free.

Funding and Growth

This latest funding brings Vulcan Cyber’s total funding to $35 million. The company reported a substantial 500% increase in annual recurring revenue and new customer acquisition throughout 2020.

Typically, each user implements the platform across a range of 10 to 100 accounts.

Prioritizing Vulnerabilities for Effective Security

Vulcan Cyber distinguishes itself by focusing not only on identifying vulnerabilities but also on assisting organizations in prioritizing them. This prioritization is based on the severity of the risk and the potential impact on critical business assets.

Security teams are frequently inundated with alerts, and not all identified vulnerabilities pose an immediate, high-priority threat. The platform aims to streamline resource allocation by pinpointing areas requiring the most urgent attention.

Introducing Vulcan Free

Alongside the funding announcement, Vulcan’s new free service is a significant development.

“For nearly two decades, cybersecurity professionals have utilized open-source vulnerability scanners such as Nessus,” stated Yaniv Bar-Dayan, CEO and co-founder of Vulcan Cyber. “More recently, risk-based vulnerability management tools have been employed to prioritize scan results, determining specific business risks and focusing remediation efforts.”

He continued, “The functions of scanning and prioritization are essential components of any robust remediation program. This funding enables us to offer Vulcan Free to the cybersecurity community, promoting improved cybersecurity practices. This shift in market dynamics will encourage CISOs and CIOs to allocate more resources towards achieving actual remediation outcomes, rather than solely focusing on scanning and prioritization.”

Expanding the Freemium Portfolio

With the introduction of Vulcan Free, Vulcan Cyber now offers a comprehensive freemium portfolio. This includes Vulcan Free, providing core prioritization and vulnerability management capabilities, and a pre-existing free vulnerability intelligence database.

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