Cybersecurity startup CYE has raised $100 million in a new growth round, led by investment firm EQT and with participation from 83North.
CYE was founded in 2012 by Reuven Aronashvili to help companies shore up their security posture. It does this in large part by conducting offensive operations against their customers — with their explicit consent — to find weaknesses in their network defenses before malicious hackers do. The company also provides incident response and security consultants, as well as its flagship product, Hyver, which helps companies assess their entire network and assets.
It’s a bet that’s working: CYE says it has been profitable since it was founded, and has customers in the Fortune 500. The company has presence in London, and recently opened a New York office.
CYE’s chief marketing officer Sharon Argov told TechCrunch that the company will use the $100 million investment to expand its operations, invest in research and development, sales and marketing, and plans to double its 80-person workforce.
Aronashvili said in remarks that the company is “laser-focused on building a company that fundamentally changes the way organizations approach cybersecurity, enabling them to accurately assess the most urgent threats to their business.”
