CyberX, a provider of cybersecurity for industrial Internet of Things (IIoT), completed a $9 million funding round, the company said Tuesday.
The funding round was led by Flint Capital and also included existing investors Glilot Capital Partners, Swarth Group, GlenRock, the newly joined ff Venture Capital (ffVC), and other investors.
CyberX was founded by veterans of the Israeli Elite Cyber Security Unit: Omer Schneider, CEO and co-founder and Nir Giller, CTO and co-founder. The company helps clients in industry secure their internet-connected devices. They provide visibility into the IoT environment as well as real-time detection and alerts of operational incidents, cyber threats, and system tampering.
The company’s primary product is XSense, which uses Industrial Finite State Machine (IFSM) technology to provide immediate results by collecting data across the IIOT environment and then using big data and machine learning to optimize detection of anomalous behaviors, CyberX said.
CyberX has customers across most parts of the world including North America, Europe, the Middle East, Africa, and the Asia-Pacific regions.
“Along with our long list of satisfied customers, this round further validates our innovative solution and execution to date,” Schneider said in a statement.
“We are excited to have Flint Capital onboard and look forward to working together as we continue expanding our operations worldwide and in particular in North America,” he added.
“I’m excited to support the growth of CyberX in North America and worldwide. I believe that the combination of management focus in the U.S., along with the company’s choice to set its HQ in Boston – the business center for cyber security and IIoT – will significantly help CyberX’s growth trajectory,” Sergey Gribov, partner at Flint Capital, said in a statement.