Cyolo, a developer of a Zero Trust Network Access (ZTNA) 2.0 solution for businesses, announced that it has raised $21 million in a Series A funding round led by Glilot Capital Partners, with investments from National Grid Partners and Merlin Ventures, as well as current investors Flint Capital, Global Founders Capital, and Differential Ventures.
Organizations are more vulnerable than ever before to breaches and vulnerabilities, which can result in long-term financial and reputational loss. Many governments around the world are now acting quickly to improve cybersecurity by hastening the adoption of new security best practices based on Zero Trust connectivity. Cyolo’s solution offers a new and innovative method to link users to their workplace environment by eliminating transitive trust and continuously verifying and authorising every endpoint, user and identity before and after granting them access to any organizational resource or app.
Cyolo is the first Zero Trust solution that spans both IT and Operational Technology (OT). It has zero access or insight into client data, leaving no vulnerability and assuring that enterprises do not compromise on data or company secrets. The company’s ZTNA 2.0 enables IT and security teams, SASE providers, and MSSPs to quickly deploy the most secure Zero Trust connection solution into any existing environment without requiring any infrastructure changes, lowering the risk to an organization’s digital assets and data.
“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. 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,” said Almog Apirion, CEO and co-founder of Cyolo.
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. 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,” said Kobi Samboursky, Glilot Capital Partners Co-founder and Managing Partner.
“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. This cutting-edge solution enables organizations to create their own distributed cloud based on identities,” said Sergey Gribov, Flint Capital Partner.
Over the past year, Cyolo has doubled its value quarter-by-quarter and has been rapidly Cyolo has been aggressively establishing collaborations with worldwide clients and service providers over the last year, doubling its value quarter after quarter.