November 19, 2019 / 12:14 PM / 22 days ago

Israeli cybersecurity firm CyCognito raises $18 mln

TEL AVIV, Nov 19 (Reuters) - Israeli cybersecurity firm CyCognito said on Tuesday it raised $18 million in an early-stage funding round led by Lightspeed Venture Partners.

Sorenson Ventures and Microsoft Chairman John Thompson also participated in the financing, which followed a $5 million seed funding round.

CyCognito is using the funding to evolve its software-as-a- service platform, which is in use by dozens of customers, including financial, healthcare and hospitality organisations.

The platform identifies and eliminates an organisation’s security blind spots, the company said.

It employs 50 workers at its office in Palo Alto and its research and development centre in Israel. The company expects to recruit 60 new workers in the coming year, mostly in Israel. (Reporting by Tova Cohen Editing by Steven Scheer)

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