News
Vulcan Cyber Secures $21 Million Series B
March 2021 by Marc Jacob
Vulcan Cyber® announced it has secured a $21 million Series B round led by Dawn Capital with participation from Wipro Ventures and existing Vulcan Cyber investors YL Ventures and Ten Eleven Ventures. The company will use the funds to support the rollout of new vulnerability remediation solutions for cloud and application security teams, and to deliver Vulcan Free. Vulcan Free is the industry’s first, free risk-based vulnerability management (RBVM) platform for vulnerability and cyber risk prioritization.
Vulcan Cyber experienced 500 percent growth in annual recurring revenue (ARR) in 2020. Its new funding will be used to satisfy substantial global demand for a SaaS solution that goes beyond vulnerability scanning and management to help IT and security teams achieve remediation outcomes and get fix done. The Vulcan Cyber platform helps enterprise teams collaborate from scan to fix to orchestrate and analyze remediation campaigns at scale.
In addition, Vulcan Cyber announced that Henry Mason, Dawn Capital principal, will join John Brennan, YL Ventures partner, and Mark Hatfield, Ten Eleven Ventures founder and general partner, as the newest addition to its board of directors.
Almost all exploited vulnerabilities are known by security and IT teams at the time of the incident. Vulnerability remediation windows currently span months or years and plague enterprises with limited capacity to address them before they disrupt the business.
The Vulcan Cyber remediation orchestration platform uses step-by-step, orchestrated workflows and automation to fix vulnerabilities quickly and at scale with the tools already in use by DevOps, IT and security teams. Vulcan is used to prioritize vulnerabilities, get the right remedies to the right people, integrate with dozens of best-of-breed tools, and automate remediation tasks at scale.
Vulcan Cyber will use the round to fuel product R&D and further extend its leadership position in cloud and application security through vulnerability remediation orchestration. The company will also continue to enhance its freemium strategy with Remedy Cloud, the world’s largest free database of vulnerability intelligence, and will introduce Vulcan Free as the only free vulnerability prioritization and risk-based vulnerability management platform. The Vulcan Cyber mission to help businesses reduce risk and “get fix done” is manifest in these free services and its willingness to give back to the cyber security community.
The company will also use its Series B to enhance direct sales while expanding its channel program and managed security service provider (MSSP) relationships. Businesses of all sizes and industries now have the ability to significantly reduce their attack surface and improve cyber hygiene with free access to all the solutions needed to effectively fix vulnerabilities that generate unnecessary business risk.
