Enterprise SOC-as-a-Service company Cysiv this week announced that it has raised $26 million in a Series A funding round.
Cysiv was launched in 2018 as a result of a partnership between Trend Micro and HITRUST, a non-profit organization that focuses on developing data protection standards. Cysiv has spun out of Trend Micro and is now an independent company.
The Series A funding round announced this week was led by ForgePoint Capital, with participation from Trend Forward Capital, the venture capital arm of Trend Micro. The money will be used to scale business operations and enhance the company’s platform.
Cysiv has developed a cloud-native security operations center (SOC) technology platform that it offers as a managed specialized service, with consumption-based monthly billing.
The platform includes technologies such as user and entity behavior analysis (UEBA), security information and event management (SIEM), threat intelligence, and security operations analytics and response (SOAR).
Cysiv says its platform can help organizations more efficiently detect, investigate and remediate threats, and manage critical security controls. The platform is technology- and vendor-agnostic, enabling it to leverage data from a variety of sources.
“Cysiv addresses one of the most complex challenges facing CISOs today – how to build and manage an enterprise SOC,” said Alberto Yépez, co-founder and managing director at ForgePoint Capital. “Cysiv’s proprietary, data science-driven security operations and analytics platform is incredibly robust, and enables enterprises and MSSPs to better monitor and manage cyber risk, at scale, and without relying on a complicated patchwork of tools.”