Latest Israeli Cybersecurity Startup Cytegic Secures Funding
By Aimee Rhodes
Cybersecurity startup Cytegic announced on Wednesday that it had raised $3 million in an Angel round led by Israel’s former Shin Bet security service head Carmi Gillon, former US Ambassador to Denmark Stuart A. Bernstein, retired SVP of Alliance Capital Paul Jenkel, and IP law expert Kenneth L. Stein.
An Israeli risk management solutions provider, Cytegic said it would use the funds to launch its US headquarters in New Jersey in order to gain traction before securing an institutional round.
Launched earlier this year, the latest angel round follows an earlier $3 million investment, bringing the total funding to $6 million.
“Cytegic’s offering is truly disruptive in that its objective is to integrate the IT security function into business operations,” said Jenkel.
Israel is known for its cybersecurity startups. On Tuesday, cloud security startup Firelayers announced it had raised an undisclosed amount of funding in its second round led by YL Ventures and Akamai Technologies.
Last week, it was announced that Boston headquartered Cybereason had raised $59 million in a series C round. While earlier this month Massachusetts-based, Israeli founded security company Viewfinity announced it was being acquired by Israeli-founded CyberArk Software Ltd.