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.