Cynomi cinches $37M for its AI-based ‘virtual CISO’ for SMB cybersecurity

Here’s a structured summary of the key elements from the provided text regarding the cybersecurity startup Cynomi:

Startup Information

• Startup Name: Cynomi
• Founders:
  • David Primor (CEO, former CTO and head of R&D of Israel Defense Forces)
  • Roy Azoulay (COO, founder and former leader of the first startup incubator at Oxford University)

Funding Details

• Total Funding Raised in Series B: $37 million
• Previous Funding: Approximately $23 million (including a seed round in 2022)
• Valuation Post-Money: Over $140 million

Investors

• Co-Leading Investors:
  • Insight Partners
  • Entrée Capital
• Previous Backers:
  • Canaan
  • Flint Capital
  • S16VC

Fundraising Series

• Series: Series B
• Date of Announcement: Not explicitly mentioned, but previous funding was noted in 2022.

Market and Product

• Target: Small and Medium Businesses (SMBs)
• Product Description: AI-based product functioning as a virtual Chief Information Security Officer (CISO), providing security operation guidance and management.

Additional Context

• Annual Recurring Revenue: Tripled in the last year.
• Customer Base: Over 100 service providers, with a significant percentage of customers based in the U.S.
• Funding Utilization: R&D and business development for expanding opportunities beyond virtual CISOs.

This encapsulates the critical information regarding Cynomi, its founders, funding details, and the market focus.

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2025-04-23 11:13:33