Cyolo, an Israeli cyber security startup that develops Zero Trust Network Access 2.0 (ZTNA 2.0) solutions for IT and OT, raised $60 million in a Series B round led by National Grid Partners, the venture investing and innovation arm of National Grid. This raise comes almost one year after the company brought in $21 million in a Series A fund raise and brings Cyolo’s total funding to date to $85 million.
Zero Trust is a security concept based on the idea that organizations should not automatically trust anything from the outside, or even the inside, of the firm. So Zero Trust means exactly that – don’t trust anything. Hackers are everywhere at all times trying to breach your defenses.
Zero Trust Network Access 2.0 is a new system that has surpassed the limitations of legacy ZTNA solute. As opposed to the older systems, this one sane offer secure connections to deliver better security outcomes for organizations of all kinds that have hybrid workforces. For example, 2.0 now offers continuous security inspection, continuous trust verification, it secures all apps and more.
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Founded in 2020 by CEO Almog Apirion, CTO Dedi Yarkoni, and Chief Architect Eran Shmuely, Cyolo securely connects onsite and remote users, to applications, servers, desktop and files on their local network and in the cloud. Cyolo’s says their unified platform securely connects local and mobile users to the tools and data they need, in the organizational network, cloud or IoT environments, and even offline networks, regardless of where they are or what device they are using.
Cyolo provides users access to all the assets they need including, applications, resources, workstations, servers and files, without granting risky network access to information assets. “Cyolo’s proprietary Zero Effort approach embraces Zero Trust connectivity,” declares the company, “unifies the simplicity and agility of cloud native solutions, on-prem, or as a hybrid, while never storing sensitive information.
“As a former CISO myself, I saw firsthand the complexity and cyber risk of enacting a digital transformation process with users and digital assets spread all over the place. When I couldn’t find a solution to meet my needs, I set out to create one,” said Cyolo co-founder and CEO Almog Apirion. “I joined forces with two ethical hackers to build the most secure and flexible identity-based access solution on the planet. But our real passion is to go far beyond ZTNA and enable simple and secure digital transformation for all enterprises.”