Cyble raises $10 million to help companies identify dark web data leaks
Cyble announced that it has raised a US $10M Series A financing round led by Blackbird, with continued participation from Spider Capital, January Capital, Cendana Capital, and VentureSouq.
The funds will be allocated to expanding Cyble’s product roadmap, enabling deeper penetration into existing & new markets, and amplifying its Cyble Research Labs (CRL) capabilities.
Founded by Beenu Arora and Manish Chachada in 2019, Cyble continuously monitors the darkweb and surfaceweb data in real-time across open and closed sources to map, monitor, and mitigate companies’ digital risk footprint. Today, Cyble is present in six nations and has tripled in business YoY.
The news of Series A funding marks almost a year since Cyble’s initial Seed funding round. In April 2021, Cyble announced it raised $4M led by Blackbird and Spider Capital, with participation from Picus Capital and Cathexis Ventures. Since then, the company has built a solid foundation through sustainable growth, evolving its client offering with darkweb, brand, and attack surface monitoring, growing its client base across 6 countries and increasing its headcount from 25 to 80 people.
“Cyble began with an ambitious goal to democratize visibility into the darkweb and empower organizations to fortify their security infrastructure and consequently ensure resilience to malicious cyberattacks,” says Manish Chachada, co-founder and COO of Cyble. “We are incredibly excited to receive the support from our investors to continue to carry out Cyble’s vision, and honored that Cyble is recognized as a leading voice in cybersecurity and a trusted partner that enables businesses to advance their Digital Risk Protection Strategy.”
Minsoo Chi of Spider Capital noted: “We’ve been impressed with Beenu and Manish and the entire Cyble team on their execution towards providing organizations with real-time visibility into the darkweb. We are thrilled to continue to support them in their vision to democratize digital risk protection.”
Tom Humphrey of Blackbird noted: “In less than 12 months, the growth that Cyble has achieved is nothing short of stunning. Beenu, Manish and their team have already made significant progress on the product roadmap and global expansion, and it’s clear they’re just getting started. Cyble is solving a big, painful problem for businesses across the world and we are proud to continue supporting their ambition.”
Alongside its continual focus to minimize and manage cyber risk for its clients, Cyble recently introduced a Law Enforcement Agency (LEA) and defense threat intelligence tailored solution, Cyble Hawk to aid law enforcement and government agencies in combating cyber risks that have national and geopolitical ramifications.
“The Series A funding round is a major milestone for our rapidly growing company, and affirmation of Cyble’s emergence as a pioneer and thought leader in the infosec industry. We are thrilled to receive this support and intend to direct these funds to drive our research, development, and intelligence capabilities to greater heights. It is no secret that cybercrime activity conducted in the darkweb is rising exponentially, we believe that continuous threat intelligence and darkweb monitoring are critical for organizations to identify and manage data breaches in a timely manner. Cyble is committed to deliver comprehensive cybersecurity solutions that resonate with our growing client base,” says Beenu Arora, CEO and Co-founder of Cyble.