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A cyber security investment to change an industry

Yaniv Bar-Dayan
 | Mar 18, 2021
 | Vulcan Cyber co-founder and CEO

These are exciting times at Vulcan Cyber. A few days ago we celebrated our third anniversary and today I’m thrilled to announce a cyber security investment that will change our industry in more ways than one. 

 

First of all, we are closing the first quarter of 2021 with the big news of a $21 million series B funding round. But there is more to this cyber security investment news than meets the eye. This news marks an inflection point in the cyber security industry in which Vulcan Cyber is changing the economics of the legacy vulnerability management market.

As we witness the dramatic growth of cyber security breaches around the world, it is hard to ignore the fact that the vast majority remain the result of tens of thousands of known security issues that are dwelling, unresolved in enterprise environments.

Vulnerability remediation and mitigation has long lagged behind vulnerability identification and prioritization. This isn’t news. I’ve long maintained that taking care of security fundamentals is the most cost-effective cyber security investment. And as the scale of digital business increases, there’s no better time than now for scan-to-fix remediation orchestration. Vulcan Cyber is the driving force behind this remediation renaissance in cyber security and vulnerability management.

We believe vulnerability scanning and prioritization, categorized by Gartner Research and others as “risk-based vulnerability management,” is essential but remedial. They are the obvious and necessary first steps in vulnerability remediation. But too much time and money is sunk into RBVM when it should be redirected into a more-important cyber security investment, driving remediation outcomes. This is the Vulcan Cyber mission, to help security and IT teams GET FIX DONE!

So we are using our success in the market and this round of funding to fulfill three promises to our customers and to the cyber security community as a whole.

Remediation prioritization for everyone

Today, I am proud to announce that Vulcan Cyber will launch its second free cyber security service to the public. Just six months after launching Remedy Cloud we are very excited to make Vulcan Free for risk-based vulnerability management and remediation prioritization available to security teams.

Vulnerability prioritization is critical, but it should never be the end game. The objective should be getting vulnerabilities fixed. Prioritization isn’t possible without a tool to help make sense of mountains of scan and asset data, and threat intelligence. Without a good tool the security teams can’t make the transition from simple visibility to meaningful action. 

Vulcan Free is a game changer for the vulnerability management discipline, and for CISO and CIO economics. This round of funding allows us to enhance the Vulcan Free service and help businesses achieve better cyber hygiene. We’ve made Vulcan Free available at no cost, as a cyber security investment we’re pushing back into the industry. 

Remediation orchestration to fix more than just “traditional” vulnerabilities

When we say “vulnerability” we are biased towards the traditional definition of software that needs to be patched. But vulnerabilities and CVEs are everywhere across our digital estate: unpatched software, vulnerable open source dependencies, misconfigured cloud services, bugs in our code, over-privileged identity, and the list grows longer every day. 

This year we will expand the scope of the Vulcan Cyber remediation orchestration platform to drive remediation into application and cloud security followed by identity, IoT, SaaS and more.

Scale our organization to delight you, our customers!

We are growing quickly. Since the beginning of 2020, we’ve grown 500% across both annual recurring revenue and customer count. And our user base has grown more than 20X during the last year with not just cyber security practitioners but also IT operators and DevOps engineers.

Obviously we are expanding our team to support customer growth and we are looking for more talent across the globe to become a Vulcaneer. If joining a group of visionaries and doers feels like a good next step in your career make sure to visit our careers page. Our door is ALWAYS open to new talent.

On a more personal note, I’d like to thank our investors Dawn Capital, Wipro Ventures, YL Ventures and Ten Eleven Ventures for making the smartest cyber security investment in Vulcan Cyber and for their unwavering dedication and support of our vision to change the industry. 

I’d also like to thank our customers for sharing our vision for remediation orchestration. Together we get fix done.

And lastly I want to thank my amazing teammates for making my days shine brighter. You are the most-talented, diverse, forward-thinking and professional group of individuals a CEO could ever dream to work with.

Fix long and prosper.

About the Author

Yaniv Bar-Dayan

Yaniv has spent more than a decade helping some of the largest companies in the world improve cyber security and reduce risk. With his “solutions, not problems” mantra, Yaniv co-founded Vulcan Cyber to help security and IT teams scale vulnerability remediation and ultimately get fix done.

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