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Israeli cybersecurity CYE raises $120 million

Israeli cybersecurity company CYE has raised $120 million in a financing round at a valuation of less than $1 billion.

The round led by EQT Private Equity, owned by the Swedish Wallenberg family, who invested $100 million with participation from existing investor, 83North. Last financing round was in 2018.

Hyver, CYE flagship product

Founded in 2012 by CEO Reuven Aronashvili, CYE helps companies strengthen their cybersecurity by conducting offensive operations against their customers. Under explicit consent CYE teams perform real, non-simulated attacks to find weaknesses in their customers’ network defenses, using Hyver, its advanced algorithms, and graph modeling flagship product.

In addition, the company accurately predict possible attack routes, giving customers the ability to prevent such attacks before they occur, as well as the knowledge of where resources need to be invested.

CYE’s nearly 200 customers include Novartis, Philips, UBS and Nokia.

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