CybelAngel has announced that it has closed a $36 million Series B funding round from a coalition of successful US based entrepreneurs and a consortium of European Venture Capital Firms.
CybelAngel’s new investors include Datadog Co-Founder and CEO Olivier Pomel, along with Co-Founder and CTO Alexis Le-Quoc, Tenable Co-Founder and CTO Renaud Deraison, Black Duck Software former CEO Lou Shipley, and Neolane (acquired by Adobe) Co-Founder and former CEO Stephan Dietrich.
Prime Ventures led the round alongside TempoCap, with participation from Bpifrance and Open CNP.
The company will use the investment to accelerate global expansion, strategic partnerships and product advancement of their unique AI-powered technology platform. CybelAngel has received a total of $52 million in funding to date.
“CybelAngel’s technology is a must-have in every CIO’s cybersecurity posture. Their solution has already been successful at saving customers billions of dollars’ worth of potential damage from data leaks. We see an expansive global opportunity in CybelAngel, and we are excited to help them grow,” said Pieter Welten, Partner at Prime Ventures.
Enterprise data is now shared on more third-party platforms than ever before. In the data centers, on the cloud, on connected or IoT devices, and among external contractors and vendors, the threat of critical data leaks beyond a company’s firewall grows every day.
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Damien Henault, partner at TempoCap said: “CybelAngel’s platform, based on a unique combination of AI and human expertise, represents a real paradigm shift in the industry and we’re proud to invest in a cybersecurity firm that is truly disruptive and innovating at scale. We look forward to supporting their success over the coming years”.
CybelAngel detects over one 1 billion documents per day, and uses artificial intelligence to assess the sensitivity of the information it finds. The company’s platform helps enterprises manage digital risk in real time by providing relevant, actionable information, enabling effective remediation and takedown.
Erwan Keraudy, CEO of CybelAngel, said: “The acceleration of digital transformation and the proliferation of connected devices has created an explosion of both malicious and negligent risks.
“This funding enables CybelAngel to expand globally to more countries and continue to innovate to protect enterprises’ most critical digital assets from costly data leaks. It will also support our expansion in North America where the demand for digital supply chain protection and third-party risk management is growing exponentially.”