Vulcan Cyber Raises $4M For Its Vulnerability Remediation Platform
Christian Erdmann
Vulcan Cyber experienced 500 percent growth in annual recurring revenue (ARR) in 2020. Its new series B funding round will be used to satisfy substantial global demand for a SaaS solution that goes beyond vulnerability scanning and management to help IT and security teams achieve remediation outcomes and get fix done. The Vulcan Cyber platform helps enterprise teams collaborate from scan to fix to orchestrate and analyze remediation campaigns at scale.
Vulcan Cyber raises $4M for its vulnerability remediation platform
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The Vulcan Cyber remediation orchestration platform uses step-by-step, orchestrated workflows and automation to fix vulnerabilities quickly and at scale with the tools already in use by DevOps, IT and security teams. Vulcan is used to prioritize vulnerabilities, to get the right remedies to the right people, to integrate with dozens of best-of-breed tools, and to automate remediation tasks at scale.
Israeli software security startup Vulcan Cyber Ltd. has raised $21 million in new funding to support the rollout of new vulnerability remediation solutions for cloud and application security teams and deliver a new service.
The company intends to use the funds to enhance direct sales, expand its channel program and managed security service provider (MSSP) relationships, accelerate product R&D, enhance its freemium strategy with Remedy Cloud, a free database of vulnerability intelligence, and introduce Vulcan Free, a free risk-based vulnerability management (RBVM) platform for vulnerability and cyber risk prioritization.
Led by Yaniv Bar-Dayan, CEO and co-founder, Vulcan Cyber has developed a vulnerability remediation orchestration platform, built to help businesses reduce cyber risk through measurable cloud and application security. The platform orchestrates and tracks the remediation lifecycle from scan to fix by prioritizing vulnerabilities, curating and delivering the best remedies, and automating processes and fixes through the last mile of remediation.
The company says it will use the funds to support the rollout of its new vulnerability remediation solutions for cloud and application security teams, and to deliver Vulcan Free - a free risk-based vulnerability management (RBVM) platform for vulnerability and cyber risk prioritization.
Vulcan Cyber has reported 500% growth in annual recurring revenue (ARR) in 2020. The new funding will also be used to satisfy substantial global demand for a SaaS solution that goes beyond vulnerability scanning and management to help IT and security teams achieve remediation outcomes and get fix done. The Vulcan Cyber platform helps enterprise teams collaborate from scan to fix to orchestrate and analyze remediation campaigns at scale.
Bar-Dayan said, "The launch of Vulcan Free underscores the Vulcan Cyber philosophy that vulnerability prioritization is not an end goal, but simply one element in proper remediation. Vulcan Free changes decades-old market dynamics that only focus on vulnerability identification instead of driving remediation outcomes. Remediation orchestration is the only viable way to deliberately align vulnerability management with the needs of digital business and cloud and application environments. This round of funding allows us to make these critical security tools available to more organizations free of cost, so they can get fix done."
Latest round led by Maor Investments and Ten Eleven Ventures bolsters Vulcan Cyber vulnerability risk management leadership position, and promotes expansion into cyber risk and attack path management markets
TEL AVIV, Israel, Nov. 15, 2023 /PRNewswire/ -- Vulcan Cyber, developers of the market-leading cyber risk management platform, today announced it has closed its $55 million Series B with the addition of a $34 million investment led by Maor Investments and Ten Eleven Ventures with participation from existing Vulcan Cyber investors Dawn Capital and Wipro Ventures. This latest investment marks a total of $70 million invested in Vulcan Cyber to date.
Based on annual recurring revenue in the trailing twelve months through Q3 2023, Vulcan Cyber more than doubled revenue year over year while aligning with current market requirements for operational efficiency. Vulcan Cyber revenue growth is based on substantial global demand for a SaaS solution that goes beyond traditional vulnerability scanning and vulnerability management to help cyber security teams and asset owners mitigate the cyber risk that presents the most critical threat to customers' unique organizations.
Yaniv Bar-Dayan, Vulcan Cyber CEO and co-founder, said, "Vulcan Cyber is leading the way in a push to move beyond common vulnerability management functions of scan and prioritize, to ease the heavy lifting of meaningful risk mitigation. Efficient collaboration between security, engineering, operations teams and asset owners is essential. Orchestration and automation of remediation tasks at enterprise scale is critical. This round of funding will help Vulcan Cyber deliver on its vision to help customers align vulnerability risk management efforts with business priorities."
About Vulcan CyberVulcan Cyber has developed the industry's first cyber risk management platform, built to help businesses reduce vulnerability and asset risk through measurable and efficient attack surface security. Vulcan Cyber orchestrates and tracks the vulnerability remediation lifecycle from scan to fix by aggregating risk and asset data, prioritizing vulnerabilities using business context, curating and delivering the best remedies, and automating mitigation processes through the last mile of remediation. Vulcan Cyber is proud to offer Vulcan Free, VulnRX and MITRE Mapper as freemium SaaS solutions for IT security teams at businesses of all sizes. The unique capability of the Vulcan Cyber platform has garnered Vulcan Cyber recognition as a 2019 Gartner Cool Vendor, as a 2020 RSA Conference Innovation Sandbox finalist, as a 2023 SINET16 Innovator Award winner, and as a vulnerability risk management leader in several industry analyst evaluations.
Vulcan Cyber, a startup developing tools to help enterprise customers detect and fix software vulnerabilities, today announced that it raised $21 million in a series B round led by Dawn Capital. CEO Yaniv Bar-Dayan says the funds will be used to support the rollout of new exploit remediation solutions for cloud and app security teams and to deliver Vulcan Free, a no-cost, risk-based vulnerability management platform for cyber risk prioritization.
Bar-Dayan asserts that legacy vulnerability management solutions are ineffective and leave organizations exposed. By adopting a software-as-a-service delivery model, he says that Vulcan can provide better remediation capabilities that are effective for a wider, modern user base.
In addition to the vulnerability context, Vulcan also provides validated remediation details, including where to find specific fixes and how they will impact overall risk above and beyond the specific CVE. Integrations with patch management tools like Microsoft Endpoint Manager allows a user to take action to immediately fix a vulnerability from the same screen. But if a different group is responsible for remediation and patch management, as is typical with many enterprises, Vulcan Cyber can automatically initiate communication and collaboration with those teams through preferred communication tools, such as Microsoft Teams, ServiceNow, and Jira.
This integration between the threat and vulnerability management capabilities in Microsoft Defender for Endpoint and Vulcan Cyber can help security teams increase their visibility into risk across the organization, deepen their understanding of vulnerabilities and the remediation options, and drive efficiencies with IT counterparts.
Vulcan, which Bar-Dayan co-founded in 2018 with Tal Morgenstern and Roy Horev, provides an array of tools to help address -- and prioritize -- risks around code vulnerabilities. The platform monitors security, IT, and DevOps software via APIs to spot possible exploits and kick off remediation, either automatically or under the supervision of a company's security team.
"Vulcan [models] attack paths from code to cloud to traditional network infrastructure [and] prioritizes vulnerability remediation for assets based on attack exposure [and more,] and then correlates connections between the software that needs to be fixed," Bar-Dayan said. "The platform democratizes cyber risk remediation with automated task assignment, asset ownership management and risk exception workflows."
To remediate vulnerabilities, the Vulcan Platform offers two remediation methods: manual and automated. Taking Action on a vulnerability (or more), whether manual or automated, results in a Campaign.
One of the most common uses in Vulcan is utilizing the scanners' findings and data in taking manual or automated remediation actions. Every remediation action taken on a vulnerability generates a Remediation Campaign. Through the Vulcan Platform, you can manage and monitor all Remediation Campaigns and gain visibility into the overall progress of remediation actions.
These partners offer operational services and staff augmentation, helping you to manage vulnerability remediation more effectively as part of your routine software development and risk management processes.
The Axonius platform provides hundreds of adapters (pre-built API connections) to deliver a comprehensive asset inventory, identify attack surface coverage gaps, and validate security controls and policies. The Axonius Platform ingests Amazon Inspector findings using a dedicated AWS adapter. Amazon Inspector findings can be viewed alongside other correlated data sources to help with vulnerability prioritization and management. When assets contain vulnerabilities or deviate from desired states, customers can automate enforcement actions and notifications to reduce risk.
FireEye Helix, an AWS SaaS security operations platform, ingests Amazon Inspector findings to provide vulnerability and risk context for detection, visibility, and threat hunting activities. FireEye Helix ingests Amazon Inspector findings to identify Amazon EC2 and Amazon ECR vulnerabilities, and correlates this data with data from over 600 different security and business applications. The data is used to establish normal behavior and alert on deviations that may suggest insider threats, lateral movement, or other suspicious activity. This allows customers to prioritize incidents and vulnerabilities to rapidly move from alert to fix.