XM Cyber Raises $22 Million to Automate Cybersecurity

There’s a reason that by 2021, the number of unfilled cybersecurity jobs worldwide is expected to reach 3.5 million. An estimated 230,000 new forms of malware are launched every day. The average cost of a data breach in 2020 will exceed $150 million. And only 38 percent of global organizations say they’re prepared to handle a sophisticated cyberattack.

That’s why Tamir Pardo — who served as chief of Mossad, Israel’s elite security intelligence service, between 2011 and 2016 — two years ago cofounded XM Cyber, a startup that claims to have pioneered the first platform capable of simulating, validating, and remediating advanced persistent threats (ATP) with artificial intelligence (AI).

XM Cyber announced on November 12 that it has raised $22 million in a series A round with participation from Macquarie Capital, Nasdaq Ventures, Our Innovation Fund, and UST Global, bringing its total raised to date to $32 million.

Read the full article at VentureBeat

The Government Technology & Services Coalition's Homeland Security Today (HSToday) is the premier news and information resource for the homeland security community, dedicated to elevating the discussions and insights that can support a safe and secure nation. A non-profit magazine and media platform, HSToday provides readers with the whole story, placing facts and comments in context to inform debate and drive realistic solutions to some of the nation’s most vexing security challenges.

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