We are excited to share the news from UpWest Labs portfolio company CyberX that the company has raised an $18M Series B to fuel its rapid growth.
CyberX provides the most widely deployed industrial cyber security platform for continuous, non-invasive risk assessment and M2M anomaly detection. The company’s purpose-built platform enables organizations to detect and respond faster to risk in their industrial networks. Since its founding in 2013 and official product launch in 2014, the company has expanded in the US and Europe, with its solution deployed across six continents.
“Sophisticated malware such as WannaCry and NotPetya, along with targeted ICS cyber attacks such as TRITON and Industroyer, have shown business leaders that industrial cyber risk can have a material impact on financial results, as well as potential safety and environmental implications,” said Omer Schneider, CyberX CEO and co-founder.
This Series B round brings CyberX’s total venture financing to $30M. Norwest Venture Partners led the round, with participation from other prior investors including Glilot Capital Partners, Flint Capital, ff Venture Capital, and others. The announcement comes after CyberX experienced 3x growth in 2017, with strong momentum in 2018 as well.
Our journey with CyberX began in January 2013 when we became the company’s first investors. We are proud to have invested in what was then two incredible co-founders Omer Schneider and Nir Giller has expanded to become a team of 40 and growing. Congratulations to the CyberX team! You can read the full press release on CyberX’s website here.