CybelAngel Raises $36 Million in Series B Funding
Leading digital risk management platform completes Series B investment round led by Prime Ventures, bringing their total funding to $52 million. New investment will help CybelAngel drive global expansion, strategic partnerships and optimization of its AI-powered SaaS platform.
PARIS and NEW YORK, February 12, 2020 – CybelAngel, a global leader in digital risk management, today announced that it has closed $36 million in Series B funding from a coalition of successful U.S.-based entrepreneurs and a consortium of European venture capital firms.
CybelAngel’s new investors include:
- Datadog Co-Founder and CEO Olivier Pomel, and 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
Prime Ventures led the round alongside Tempocap with the participation from Bpifrance and Open CNP.
The company will use the investment to accelerate global expansion, build strategic partnerships and advance the capabilities of its unique AI-powered technology platform. With the addition of the new Series B round, 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 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 cyber-resilience due diligence frameworks.
CybelAngel detects over one 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 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 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.
“The acceleration of digital transformation and the proliferation of connected devices has created an explosion of both malicious and negligent risks,” said Erwan Keraudy, CEO, CybelAngel. “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.”
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
CybelAngel is a leading digital risk management platform that provides enterprises with actionable threat intelligence from data leaks both inside and outside the firewall. CybelAngel enables effective remediation and improved cybersecurity posture. By leveraging artificial intelligence and proven machine learning capabilities, it monitors, detects and manages digital risk from third parties and across all layers of the Internet. Global organizations rely on CybelAngel to protect their intellectual property, brand, and reputation. Every day, CybelAngel detects data leaks that others don’t. To learn more, visit CybelAngel.com
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