![[Illustrative] A man holds a laptop computer as cyber code is projected on him. (photo credit: KACPER PEMPEL/REUTERS)](https://images.jpost.com/image/upload/q_auto/c_fill,g_faces:center,h_537,w_822/460142 "[Illustrative] A man holds a laptop computer as cyber code is projected on him.")
Cybersecurity firm Cynet said Wednesday it closed a $40 million Series C funding round.
Cynet security platform natively combines multiple security controls and sophisticated response automation on a unified autonomous XDR platform that does not require additional staff to operate. The system acts like an autopilot to enable organizations with even the smallest security teams to manage their threat protection with little manual intervention, the company said.
The round was led by Greenfield Partners with participation from existing investors Norwest Venture Partners, Vintage Investment Partners, BlueRed Partners and Deutsche Telekom.
The investment will be used to meet the vigorous demand for Cynet’s Autonomous XDR Platform from companies of all sizes, the company said. Following a steep rise in sales in North America during 2020, Cynet is poised to maintain its rapid expansion in the North American and European markets.
In June, Cynet raised $18m. in a B+ round. The latest round brings total investment in the company to $78m.
The company was founded in 2015, and is based in Rishon Lezion.