David Primor Co-founder and CEO Cynomi
Cynomi is an Israeli startup that provides a vCISO platform for MSPs and MSSPs. The firm raised $20 million in new funding. The financing was led by Canaan, with Flint Capital, s16vc, and Aloniq among the return investors.
Managed Service Providers (MSPs) are third-party companies that businesses hire to manage their information technology (IT) infrastructure and systems. This can include a wide range of services, such as, network and server management, cybersecurity, help desk support, cloud services, data backup and recovery, and software updates and patching.
Businesses of all sizes can benefit from using MSPs. Small and medium-sized businesses (SMBs) often don’t have the in-house resources to manage their IT infrastructure effectively. MSPs can provide them with the expertise and support they need to keep their IT systems running smoothly. Larger businesses can use MSPs to supplement their existing IT staff or to manage specific IT functions.
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MSSP stands for Managed Security Service Provider. It’s a specific type of MSP that focuses entirely on cybersecurity solutions, differentiating it from a general MSP that offers a broader range of IT services. MSSPs specialize in security monitoring, threat detection, incident response, and other security-related services.
Building and maintaining an internal security team can be expensive. MSSPs offer a way to access security expertise without the high upfront costs. MSSPs can also help businesses comply with industry regulations and data security standards.
Founded in 2021 by David Primor CEO, a former Lt. Colonel in IDF unit 8200 (its vaunted cyber intelligence unit) and the Technology Executive Director of Israel’s cyber authority, and Roy Azoulay COO, a serial entrepreneur who founded and headed Oxford University’s startup incubator, Cynomi’s vCISO platform empowers MSSPs, MSPs, and consultancies to offer structured cybersecurity services to SMEs at scale and provide them with proactive cyber resilience. Combining proprietary AI algorithms with CISO-level knowledge, Cynomi helps partners overcome the cybersecurity skill gap and scale their business, allowing them to offer new services and increase revenues while reducing operational costs.
Cynomi’s AI-powered vCISO platform is a strategic technological solution for MSPs and MSSPs aiming to grow their cybersecurity services business. The company’s innovative platform combines CISO-level knowledge and AI to automate many of the vCISO tasks, helping service providers achieve cyber resilience for their end clients – typically SMEs – at a fraction of the cost of hiring an in-house CISO.
In a recent survey of MSPs and MSSPs in North America, Cynomi found that while only 19% offered vCISO services in 2023, 86% plan to provide or add vCISO services by the end of 2024, an increase of nearly 500%. MSPs and MSSPs are drawn to vCISO services to enable them to achieve strategic goals, namely expanding cybersecurity offerings, improving operational efficiency, and increasing profitability.
“The demand we’ve seen is a testament to the clear value of Cynomi and the pressing need for accessible cybersecurity management solutions tailored to managed service providers that serve the small and medium businesses that make up most of the global economy,” said David Primor, Ph.D., co-founder and CEO of Cynomi. “We believe Cynomi has the potential to transform how millions of organizations worldwide operate, and it’s been incredible to witness the difference vCISO services can make in protecting businesses at scale.”
