- Leading digital risk management platform CybelAngel completes a Series B investment round, bringing total funding to date to $52 million.
- New investment will help drive global expansion, strategic partnerships and advancement of their AI-powered SaaS platform.
PARIS and NEW YORK, February 12, 2020 – CybelAngel, the global leader in digital risk management, today announced that it has closed its $36 million in Series B funding from a coalition of successful US based entrepreneurs and a consortium of European Venture Capital Firms.
CybelAngel’s new investors include:
- Datadog Co-Founder and CEO Olivier Pomel, along with Co-Founder and CTO Alexis Le-Quoc,
- Tenable Co-Founder and CTO Renaud Deraison,
- Black Duck Software former CEO Lou Shipley,
- Neolane (acquired by Adobe) Co-Founder and former President Stephan Dietrich.
The company will use the investment to accelerate global expansion, strategic partnerships and product advancement of their unique AI-powered technology platform. Including the new Series B, CybelAngel has received a total of $52 million in funding to date.
In conjunction with the round, CybelAngel also announced that Pieter Welten, Partner at Prime Ventures, has joined the company’s Board of Directors. “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 the 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 standard cyber- resilience due diligence frameworks.
Damien Henault, partner at TempoCap says: “CybelAngel’s platform, based on a unique combination of AI and human expertise, represents a real paradigm shift in the industry and we’re proud to invest in a cybersecurity firm that is truly disruptive and innovating at scale. We look forward to supporting their success over the coming years”.
Jonathan Denais, Managing Director at Open CNP, the corporate venture fund of CNP Assurances says: “CybelAngel’s service has helped CNP Assurances to quickly identify potential data leaks and prevent third parties from accessing this data. It is an important part of our security strategy”.
CybelAngel detects over one (1) 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 major 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 and superior 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.
Erwan Keraudy, CEO of CybelAngel, said, “The acceleration of digital transformation and the proliferation of connected devices has created an explosion of both malicious and negligent risks. 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.”
CybelAngel is a leading digital risk management platform providing enterprises with actionable threat intelligence that enables effective remediation and improved cybersecurity posture. By leveraging artificial intelligence and proven machine learning capabilities, to monitor, detect and manage digital risk across all layers of the Internet, CybelAngel helps organizations protect their intellectual property, brand, and reputation. Every day, CybelAngel detects data leaks that others don’t. To learn more, visit www.cybelangel.com
About Prime Ventures
Prime Ventures is a leading venture capital and growth equity firm focused on investing in European technology (related) companies. Over the years, the firm has invested in more than 50 companies across Europe such as Global Collect, Takeaway.com, Mendix, iwoca and Meero. From its offices in The Netherlands and the UK the independent partnership manages over 700 million euro in committed capital. For more information please visit, www.primeventures.com
TempoCap is a leading European technology investor in fast-growing sizeable businesses. TempoCap offers primary capital for companies to accelerate growth as well as attractive and flexible liquidity solutions for sellers (entrepreneurs, venture capitalists, corporates). In addition to single asset investments, TempoCap advised funds acquire secondary direct investments by purchasing entire portfolios of investments from various type of investors including venture capital funds, corporates, banks or prominent business angels. For more information please visit, www.tempocap.com
About Open CNP
Open CNP is the Corporate Venture fund of CNP Assurances, with 100m€ under management. Created in 2016, it invests in European Fintech, Insurtech and B2B Services start-ups. CNP Assurances operates in 19 countries in Europe and Latin America. CNP Assurances designs innovative personal risk/protection and savings/retirement solutions. The company has more than 37 million insured in personal risk/protection insurance worldwide and more than 14 million in savings/retirement. Its solutions are distributed by multiple partners and adapt to their physical or digital distribution method and to the needs of customers in each country. CNP Assurances has been listed on the Paris Stock Exchange since October 1998. For more information please visit, www.cnp.fr