Romania-based Cyscale, a graph-based cloud security analysis company, has successfully completed €3 million funding. Previously, it raised €350K on SeedBlink in 2021.
The financing round was led by Notion Capital (that invested in Paddle and FUEL) alongside participation from Seedcamp, GapMinder, Micha Hernandez van Leuffen (previous founder of Wercker and now Fiberplane and NP-Hard Ventures) and David Mytton, founder of Console.dev and Server Density.
International expansion on cards
Cyscale will use the funding for its international expansion. It eyes to grow the platform and prepare it for further expansion outside Europe to the US and Asia.
Cyscale co-founder, Ovidiu Cical continued, “We are excited. Our solution is applicable to a universe of challenges relating to cybersecurity contextualisation, and we are standing in front of a great opportunity to work with a huge number of companies, and to scale quickly and effectively. We look forward to continuing our rapid growth”
Kamil Mieczakowski, principal at Notion Capital said, “Over the past five years, we’ve witnessed a paradigm shift in how enterprises run their server infrastructures. But the cybersecurity industry hasn’t kept up. We’re really excited to be partnering with Manuela, Ovidiu, and the Cyscale team as they develop what we see as the most compelling cloud visibility and control platform for the modern enterprise.”
Carlos Eduardo Espinal, Managing Partner at Seedcamp, added, “The experience of Cyscale’s founders speaks for itself. Both Manuela and Ovidiu are highly skilled and highly valued members of the cybersecurity community. Their belief in the importance of context in cybersecurity analysis is a vital step in ensuring the effective and precise protection of an organization’s cloud infrastructure.”
Dan Mihăescu, Founding Partner GapMinder BV said, “We are happy to follow on and invest further into Cyscale. It is an important phase in the company’s development, doing a lot of international steps, maturing the platform, and preparing for further scaling up outside Europe to the US and Asia. From the early beginnings, we believed in the team and we continue to support their further growth to achieve their vision of becoming a leader in cloud cybersecurity.”
What issue does Cyscale fix?
Within most modern infrastructures, all cyber assets are interconnected, generating a massive digital footprint for organisations. The underlying risk is of critical importance and it should not be overlooked. It can make the difference between a security programme that works, and alert fatigue that burdens security and development teams.
Cyscale was founded by Manuela Țicudean, Ovidiu Cical, and Andrei Milaș in 2019. The company works with the vision to protect the applications and data of companies that choose cloud technology and help them become more competitive through digitisation
The company aims to fix this situation by building a comprehensive ‘Security Knowledge Graph’ for an organisation. It ingests data from multiple sources and generates an in-depth contextual analysis for each of its cloud assets. Leaving no risk or misconfiguration uncovered, it allows security teams to prioritise the remediation of high-risk issues.
In addition, Cyscale has built a powerful compliance module that helps security leaders track gaps between any policies they have defined and their technical implementations in the cloud.
