TEL AVIV, Israel, July 28, 2021 /PRNewswire/ -- Cyolo, the developer of a Zero Trust Network Access (ZTNA) 2.0 solution for enterprises and organizations, announced today it has secured a $21 million Series A funding round led by Glilot Capital Partners, with a strategic investment from National Grid Partners and Merlin Ventures and additional support from existing investors Flint Capital, Global Founders Capital and Differential Ventures.
Organizations today are more susceptible to breaches and vulnerabilities than ever before, which can cause long-lasting reputational and financial damage. Many global governments are now taking swift action on cybersecurity by accelerating the adoption of new security best practices built around Zero Trust connectivity. Cyolo's solution provides a new and disruptive way to connect users to their working environments that eliminates transitive trust and continuously identifies and authorizes every device, user and identity before and after providing them with access to any organizational resource or app.
The first true Zero Trust solution which covers both IT and Operational Technology (OT), Cyolo has zero access or visibility into customer data leaving no vulnerability and ensuring organizations do not compromise on sharing data or company secrets. The company's ZTNA 2.0 allows IT and security teams, SASE providers, and MSSPs, to easily implement the most secure Zero Trust connectivity solution into any existing environment with no infrastructure change, reducing the risk to an organization's digital assets and data. This ensures comprehensive security for the new work dynamic, where users and resources are scattered around locations, networks and platforms. Cyolo's "Zero-Effort Zero-Trust" approach provides customers with an adaptive and simplified solution that can be used anywhere to give organizations a way to secure connectivity and minimize the threat of cyber attacks and data breaches.
"Cyolo is solving a critical problem by giving organizations an agile and easy-to-integrate solution that allows them to have full visibility and control," said Almog Apirion, CEO and co-founder of Cyolo. "The timing is right to expand into new markets, and this investment enables us to further execute our vision of transforming secure connectivity from network-based to identity-based, in order to provide organizations with a solution for their current and future needs. This round will allow us to accelerate growth and R&D efforts, and help new customers easily navigate the transition to Zero Trust."
Glilot Capital is one of Israel's top performing VC funds with a focus on cybersecurity and enterprise software, and the investment in Cyolo was made by Glilot+, Glilot Capital's recently raised $180M early-growth fund. "We are very excited to join the journey of Cyolo," said Kobi Samboursky, Glilot Capital Partners Co-founder and Managing Partner. "We have been tracking Cyolo and other Zero Trust technologies for quite some time and Cyolo's product execution is the best we've seen. Cyolo has grown exponentially and its roadmap and vision for the future of secure connectivity aligns with market needs. We are excited to support the company as it enters its next phase of growth."
"By simplifying complex environments and enabling organizations to secure their digital assets in a distributed and multi-cloud environment, Cyolo's flexible model integrates with existing technologies to ensure the safety of sensitive data and digital processes" said Sergey Gribov, Flint Capital Partner. "This cutting-edge solution enables organizations to create their own distributed cloud based on identities."
Over the past year Cyolo has doubled its value quarter-by-quarter, and has been rapidly expanding partnerships with global customers and service providers.
About Cyolo Cyolo's proprietary Zero Effort approach embraces Zero Trust connectivity, unifies the simplicity and agility of cloud native solutions, on-prem, or as a hybrid, while never storing sensitive information. Cyolo fits with any industry and vertical to provide businesses with access to critical applications and reduce their operational security costs. Cyolo has created the Next Generation Zero Trust Network Access (ZTNA 2.0), a unified solution which allows IT and security teams to easily implement Zero Trust connectivity and create their own distributed cloud with literally no infrastructure change. Cyolo is a 'zero trust, zero effort' cyber security company built for the workforce of today, keeping users securely connected no matter where they are. Learn more at cyolo.io.