Cyolo

Cyolo provides users with the ability to safely connect to their work environment without compromising their organization. The system identifies, verifies, and authorizes each device, user, and action before and after they are granted access to any resource in the organization. The Cyolo cloud platform, according to the company's website, provides a unique technology solution that provides secure connections without disclosing organization data and prevents the leakage of confidential data of its customers. In addition, the company's solution covers both IT and operational technologies (OT) on a single platform.

History

2022: Raising $60 million in investments

At the end of June 2022, Cyolo announced an investment of $60 million. The funding round was led by National Grid's venture investment arm.

In addition to National Grid Partners, the startup has received money from Glilot Capital Partners, Differential Ventures and Merlin Ventures. Flint Capital, founded by Russians, also participated in the transaction.

Team Cyolo

Serria B funding round brought the total amount raised by Tel Aviv-based Cyolo to $85 million and provides the company with a solid foundation for competition in the ZTNA (Zero Trust Network Access) protection technology market.

The company and its investors are betting on achieving great success due to the growing demand for the implementation of zero trust principles in large and small organizations. Cyolo's funding comes as the country's government pushes for zero-trust models to mitigate malicious attacks.

{{quote 'As a former director of information security, I have seen firsthand the complexity and risk of implementing a digital transformation process with users and digital assets scattered throughout. When I couldn't find a solution that met my needs, I decided to create one, "says Cyolo co-founder and CEO Almog Apirion. }} Apirion, who headed the cybersecurity division in the Israeli Navy, said his plan is to create the world's safest and most flexible identity-based access solution.

Cyolo technology gives organizations the ability to add multifactor authentication (MFA) to any system and offers tools for combining identity, data built-in password storage and directory services.^[1]

2021: Raising $21 million in investments

In early August 2021, it became known that the Russian Flint Capital fund invested in the Israeli company Cyolo, which develops the Zero Trust Network Access 2.0 database protection platform. The startup raised $21 million in a Series A funding round led by venture capital fund Glilot Capital Partners with National Grid Partners and Merlin Ventures. In addition to Flint Capital, Global Founders Capital and Differential Ventures acted as existing investors.

The startup plans to use the funds received to expand the company's service, as well as to double the company's staff by the end of 2021. For 2020, Cyolo doubled its value each quarter, built a customer base and expanded partnerships with global service providers. The latest round of funding will help the company conduct new research and accelerate the development of additional solutions.

Russian fund Flint Capital invested in database protection platform developer Cyolo

Cyolo provides users with the ability to safely connect to their work environment without compromising their organization. The system identifies, verifies, and authorizes each device, user, and action before and after they are granted access to any resource in the organization. The Cyolo cloud platform provides a unique technology solution that provides secure connections without exposing your organization's data and prevents your customers from leaking sensitive data. In addition, the company's solution covers both IT and operational technologies (OT) on a single platform.

Co-founder and managing partner of Glilot Capital Partners Kobi Samboursky noted:

We've been following Cyolo and Zero Trust technology for quite some time and we love the quality of their execution. Cyolo's development plan and their vision for the future of secure connectivity aligns with the needs of the market. We are excited to support this company entering the next phase of growth.[2]

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