Digital risk management platform CybelAngel has raised an extra $36 million in a series B funding round. It is planning to use the money to begin to offer its services across North America.
This latest investment means CybelAngel has raised more than $50 million since June 2017.
CEO Erwan Keraudy told VentureBeat: “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.”
CybelAngel was responsible for uncovering the infamous Ashley Madison data leak in 2015. All 37 million of the extramarital dating site’s members were affected and the platform was forced to completely close down while the breach was dealt with.
Earlier this month it was reported that users were still being targeted by ‘sextortian’ schemes, where scammers are attempting to blackmail them by claiming they hold revealing information.
Cybersecurity firm Varonis estimated that more than 4.1 billion records were exposed in the first half of 2019 and it believes companies around the world will spend $133.7 billion to protect user data in 2022.
Read more here.