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02/11/2016

Cyber security startup Cynet raises $7 million from US hedge fund Lazarus

Cyber security solution provider Cynet - Precise Threat Detection has raised $7 million investment from US-based hedge fund Lazarus. Prior to this funding round, the founders self-funded the company.

Cynet, Eyal Gruner, Idan Amir, Boaz Zilber, Netanel AmarCynet has created an approach for the rapid detection and remediation of advanced threats. The company’s flagship product, Cynet 360, correlates and analyzes indicators from files, network, endpoints and user behavior to uncover threats, which have bypassed the prevention layer.

Cynet has already experienced rapid growth with a global client base that includes dozens of large-scale enterprises in finance, healthcare, government, retail, and industrial sectors among others.

“We believe Cynet could be the next cybersecurity giant to come out of Israel,” said Brian Abrams, partner at Lazarus. “With their comprehensive solution and rapid proof-of-concept deployments, Cynet is going head-to-head with the biggest cybersecurity companies out there and winning.”

Cynet was founded in March 2015 by Eyal Gruner, CEO at Cynet, Idan Amir, Boaz Zilber and Netanel Amar, the company's COO.

Gruner and Zilber are the co-founders of BugSec and Versafe, which were acquired by F5 Networks in 2013.

Cynet is headquarters in New York with a Research and Development center in Tel Aviv, Israel.

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