Cymulate Valuation, Funding & Investors
Cymulate is valued at $500M as of September 2022.
Last Cymulate valuation
$500M
Series D · Sep 2022
Last Cymulate funding round
$70M
Series D · Sep 2022
Cumulative funding Cymulate raised
$141M
across 5 funding rounds
Key investors in Cymulate
Susquehanna Growth Equity
Dell Technologies Capital
Vertex Ventures Israel
Vertex Growth Fund
One Peak
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Eyal Gruner
About Cymulate
Cymulate is a security validation platform testing defenses from the attacker's perspective across on-premises, cloud, and Kubernetes setups. It leverages breach and attack simulation mapped to the MITRE ATT&CK framework, integrating with EDR, email gateways, SIEM, WAF, and more for end-to-end coverage. Boston-headquartered since 2015 with Tel Aviv roots, the platform deploys in one hour, offering automated red and purple teaming, expert risk assessments, and threat intelligence updates for teams at any maturity level.
Founded
2016
HQ
HolonWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$500M (Sep 2022)
Cymulate Valuation
Cymulate is currently valued at $500M, based on its Series D in September 2022.
The $70M round was led by One Peak, with participation from Vertex Ventures Israel, Vertex Growth Fund, Susquehanna Growth Equity and Dell Technologies Capital.
Cymulate valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2022 | Series D | $500M |
Cymulate Funding History
Cymulate has raised a total of $141M across 5 funding rounds.
Cymulate's first fundraising round was a $4M seed round in March 2017. The most recent completed round was a $70M Series D in September 2022.
Cymulate funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2022 | Series D | One Peak (lead); Vertex Ventures Israel; Vertex Growth Fund; Susquehanna Growth Equity; Dell Technologies Capital | $70M | $500M | Cymulate is a cybersecurity company providing Extended Security Posture Management (XSPM) and Continuous Security Validation software, leveraging the MITRE ATT&CK framework to help teams stress-test networks through attack simulations and validate security controls without consultants. The platform enables assessment of attack vectors, security gaps, and purple team simulations for enterprises across sectors like financial services and healthcare. On September 6, 2022, Cymulate raised $70 million in a Series D funding round led by One Peak, with participation from Susquehanna Growth Equity, Vertex Ventures Israel, Vertex Growth, and Dell Technologies Capital—the same investors from its prior $45 million Series C in 2021—bringing total funding to $141 million. The funds are earmarked to enhance the XSPM platform, drive innovation, accelerate global expansion (particularly in North America, where growth exceeded 200% in 2021), and support go-to-market efforts by expanding staff by 75% to over 200 employees. At the time of the round, Cymulate reported more than 500 paying customers globally, including Fortune 500 companies and partners like NTT, Optiv, Wipro, Telit, and Euronext, up from 300 a year prior. The company had more than doubled its ARR in 2021 and doubled revenues in the preceding year, reflecting strong traction amid rising ransomware and cyber threats, positioning it as a leader in cyber posture management. |
| May 2021 | Series C | One Peak (lead); Vertex Ventures Israel; Vertex Growth Fund; Susquehanna Growth Equity; Dell Technologies Capital | $45M | - | Cymulate is an Israeli cybersecurity company offering a SaaS-based Continuous Security Validation platform that uses attack simulations to test and improve organizations' security postures against evolving threats, leveraging the MITRE ATT&CK framework. The platform enables automated assessments of vulnerabilities in networks, provides guidance for fixes, and supports red and purple team exercises without needing consultants. Co-headquartered in New York and Rishon LeZion, Israel, it serves hundreds of large enterprises and mid-market customers across verticals like financial services, healthcare, and telecom, including Euronext, NTT, and Telit. On May 5, 2021, Cymulate raised $45 million in a Series C funding round led by One Peak, with participation from Susquehanna Growth Equity, Vertex Ventures Israel, Vertex Growth, and Dell Technologies Capital. This brought total funding to $71 million, following a $15 million Series B in November 2019 and a $3 million Series A in March 2017, plus a seed from Eyal Gruner. The funds were earmarked to accelerate growth, expand globally across US, EMEA, APAC, and LATAM, invest in platform development, and scale operations after doubling revenue and staff by over 150% in 2020. Traction included 300 customers by early 2021 and strong growth amid rising cyber threats, with a 50% increase in unique attacks observed in 2020. Cymulate positioned itself as a leader in consultant-free security validation, responding to the need for continuous testing in dynamic IT environments and against aggressive APT groups. The round underscored investor confidence amid a cybersecurity crisis of trust, with plans to maintain innovation and partnerships like with NTT. |
| Nov 2019 | Series B | Vertex Growth Fund (lead); Vertex Ventures Israel; Susquehanna Growth Equity; Dell Technologies Capital | $15M | - | Cymulate, a SaaS-based Breach and Attack Simulation (BAS) platform, raised $15 million in a Series B funding round on November 26, 2019, led by Vertex Growth Fund with participation from Vertex Ventures Israel, Dell Technologies Capital, and Susquehanna Growth Equity. This brought the company's total funding to $26 million, including prior seed and Series A investments. The platform enables organizations to automatically test security controls, assess cybersecurity posture, and identify vulnerabilities through simulated attacks. The funding was aimed at accelerating expansion amid strong market adoption following the Series A round earlier in 2019. Vertex Growth Fund highlighted Cymulate's intuitive and comprehensive solution for continuous security validation. Existing investors continued their support, recognizing the company's position in the emerging BAS space. Cymulate had earned accolades such as Top 10 Cybersecurity Startups of the Year by CRN, Tech Start-up of the Year (Software) at The Stevies 2019, and Silver in the 2019 Cybersecurity Excellence Awards. |
| Mar 2019 | Series A | Dell Technologies Capital (lead); Vertex Ventures (lead); Susquehanna Growth Equity; Eyal Gruner | $8M | - | - |
| Mar 2017 | Seed | Susquehanna Growth Equity (lead); Eyal Gruner | $4M | - | Cymulate is a SaaS-based cyber-attack simulation company that helps organizations assess security preparedness by exposing vulnerabilities in systems like Windows Domain Networks, email, and web servers. In March 2017, Cymulate raised a $3 million Series A round led by Susquehanna Growth Equity, following a seed round from Eyal Gruner. The funding supported expansion of its cloud-based platform for continuous security validation. Susquehanna Growth Equity continued investing in later rounds, including Series D in 2022. |
Who has invested in Cymulate?
7 investors have backed Cymulate across its funding rounds, including Susquehanna Growth Equity, Dell Technologies Capital, Vertex Ventures Israel, Vertex Growth Fund, One Peak and Eyal Gruner.
Lead investors include One Peak, Vertex Growth Fund, Dell Technologies Capital, Vertex Ventures and Susquehanna Growth Equity.
Cymulate Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Philadelphia, PA | 5 | Lead | Mar 2017 | |
| San Francisco, CA | 4 | Lead | Mar 2019 | |
| Tel Aviv | 3 | Participant | Nov 2019 | |
 Singapore | 3 | Lead | Nov 2019 | |
 London | 2 | Lead | May 2021 | |
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Start Free TrialAcquisitions by Cymulate
Cymulate has acquired 2 companies to date.
Last acquisition by Cymulate was on January 7th 2025. Cymulate acquired CYNC Secure for undisclosed valuation.
Latest Acquisitions by Cymulate
| CYNC Secure | ||
| Description | CYNC Secure is an Israeli cybersecurity company founded in 2022 that consolidates vulnerability and exposure data from disparate security tools into a single normalised view. Its software standardises findings from scanners and security platforms and uses them to prioritise remediation by risk and business impact. It was led by co-founder and chief executive Meir Abergel and sold to enterprise security operations teams. | Cync is a cybersecurity platform optimizing operational efficiency in exposure management programs for enterprises. It streamlines vulnerability prioritization and remediation workflows across IT assets. |
| HQ Country | | |
| HQ City | - | Tel Aviv |
| Deal Date | 7 Jan 2025 | 7 Jan 2025 |
| Valuation | undisclosed | $10M |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Cymulate acquisitions and their M&A valuation multiples. Start Free Trial | ||
Cymulate Competitors
Cymulate competitors include listed companies like Red Violet and GB Group, and private ones like Chalk, Crisp, Descope and Listen Labs.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Publicly listed | $90M | $24M | $1.2B | 11.7x | |
| San Francisco, CA | Private | - | - | $500M | - | |
| Bentonville, AR | Private | - | - | $500M | - | |
| San Francisco, CA | Private | - | - | $500M | - | |
| San Francisco, CA | Private | $10M | - | $500M | - | |
| United Kingdom | Publicly listed | $383M | ($45M) | $489M | 1.6x |
Cymulate Public Comps
Cymulate is still privately-owned, but its public comps include GB Group, Happiest Minds Technologies, Beijing Huaru Technology, Spire Global, Hunan Kylinsec Tech, Hillstone Networks, Claritev, Global Security Experts, eMudhra and Latent View Analytics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $383M | ($45M) | 1.6x | 1.6x | (13.3x) | 6.7x | |||
| $241M | $43M | 2.0x | 1.9x | 11.5x | 10.7x | |||
| $45M | ($28M) | 8.9x | - | (14.5x) | - | |||
| $72M | ($40M) | 5.5x | 5.1x | (9.9x) | (13.6x) | |||
| $46M | ($9M) | 8.9x | 8.5x | (47.5x) | 105.5x | |||
| $136M | ($18M) | 4.1x | - | (30.6x) | - | |||
| $965M | $466M | 5.4x | 5.2x | 11.2x | 8.5x | |||
| $71M | $15M | 7.6x | 6.8x | 36.5x | - | |||
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Common questions about Cymulate
| When was Cymulate founded? | Cymulate was founded in 2016. |
| Where is Cymulate headquartered? | Cymulate is headquartered in Holon, Israel. |
| Is Cymulate publicly listed? | No, Cymulate is a private, VC-backed company. |
| What is Cymulate's valuation? | Cymulate was last valued at $500M in its Series D in September 2022. |
| How much funding has Cymulate raised? | Cymulate has raised $141M across 5 funding rounds. |
| What was Cymulate's last funding round? | Cymulate's last funding round was a $70M Series D in September 2022, led by One Peak. |
| Who are Cymulate's investors? | Cymulate's investors include Susquehanna Growth Equity, Dell Technologies Capital, Vertex Ventures Israel, Vertex Growth Fund, One Peak, Eyal Gruner and Vertex Ventures. |
| Which companies are comparable to Cymulate? | Companies comparable to Cymulate include Red Violet, Chalk, Crisp, Descope, Listen Labs and GB Group. |
| How many companies has Cymulate acquired? | Cymulate has acquired 2 companies, including CYNC Secure and CYNC. |
| What was the largest acquisition by Cymulate? | The $10M acquisition of CYNC in January 2025 is the largest acquisition Cymulate has made to date. |
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