Cybersecurity is crucial to any business – regardless of the size. In this digital world, making sure that data and cyber assets are protected is becoming more and more important yet also more and more convoluted. Romanian startup Cyscale wants to change this and has just picked up €3 million.
The funding was led by Notion Capital, with participation from Seedcamp, GapMinder, Micha Hernandez van Leuffen, previously founder of Wercker and now Fiberplane and NP-Hard Ventures; and David Mytton, founder of Console.dev and Server Density.
Founded in 2019, Cyscale’s goal is to help companies to be more competitive due to information protection and digitalization. In 2020, the team raised €350k in just 4 hours!
Within most modern infrastructures, all cyber assets are interconnected, generating a massive digital footprint for organizations. Understanding risk is therefore of critical importance. It can make the difference between a security programme that works, and alert fatigue that burdens security and development teams.
Manuela Ticudean, co-founder of Cyscale, explained: “The cybersecurity industry needs to shift toward understanding cyber risk in context. Only then will we be able to fight the increasingly sophisticated and advanced threats targeting our organizations and our lives. Most cloud security tools analyze cloud infrastructures by running through sets of configuration best practices and verifying them against each cloud resource. This approach can be useful, but the problem is the rate of false positives. Looked at in isolation, a resource may be misconfigured, but there are other contextual factors that determine the actual danger for a business. False positives create noise and keep security engineers from focusing on the highest-risk issues. As a result, businesses waste valuable time and risk becoming the victims of cyber-attacks.”
As security risks are generally assessed in isolation, companies tend to have a fragmented security function, with no clear understanding of where weaknesses lie and what their impact truly is.
Cyscale aims to fix this situation by building a comprehensive ‘Security Knowledge Graph™’ for an organization, ingesting data from multiple sources and generating an in-depth contextual analysis for each of its cloud assets. Leaving no risk or misconfiguration uncovered, it allows security teams to prioritize the remediation of high-risk issues.
In addition, Cyscale has built a powerful compliance module that helps security leaders track gaps between any policies they’ve defined and their technical implementations in the cloud.
Cyscale co-founder, Ovidiu Cical, added: “Our solution is applicable to a universe of challenges relating to cybersecurity contextualisation, and we are standing in front of a great opportunity to work with a huge number of companies, and to scale quickly and effectively. We look forward to continuing our rapid growth”.
Kamil Mieczakowski, principal at Notion Capital, said: “Over the past five years, we’ve witnessed a paradigm shift in how enterprises run their server infrastructures. But the cybersecurity industry hasn’t kept up. We’re really excited to be partnering with Manuela, Ovidiu, and the Cyscale team as they develop what we see as the most compelling cloud visibility and control platform for the modern enterprise.”