With over 40% of the world’s companies having 500 or less employees, the middle market is a prime target for hackers. With the cost of attacks varying widely, one-in-six firms attacked say their survival was threatened. London-based Cynomi is addressing the growing cyber threats in the middle market by delivering enterprise-grade cybersecurity solutions at scale.
The platform has now raised $3.5 million seed funding. The investment comes from Flint Capital, SeedIL, Lytical Ventures, and a group of business angels, including Nir Giller, co-founder of CyberX (acquired by Microsoft).
The Virtual Chief Information Security Officer (CISO) platform for service providers and SMBs, has also received two grants totalling $500K from Innovate UK. The additional capital will be used to scale its R&D efforts and expand and strengthen the company’s presence in the US and UK markets.
Led by a team of ex-Israel Defense Forces cybersecurity veterans, the startup was founded in 2020 to focus on small and medium-sized businesses. David Primor, Co-founder & СЕО, Cynomi said: “The small and mid-market companies are more prone to the devastating impacts of possible attacks. We emulate a human CISO, automatically providing IT and cybersecurity teams with a focused assessment and a prioritised remediation action plan.”
The team is already working with HOT, one of the largest telecoms in Israel, and with a growing number of firms in the U.S., U.K. and Israel.