AI powered Cybersecurity prediction software platform, Cyr3con secured $8.2 million in Funding

Cyr3con, a Tempe-based AI-driven cybersecurity prediction software platform, has now secured $8.2 million in funding round.

Cyr3con is founded by the Paulo and Jana Shakarian in the year 2016. It provides an AI threat intelligence platform that predicts and prioritizes the latest cyber threats, enabling the CISO to understand the threat landscape and identify emerging attacks against the enterprises.

Dr. Paulo Shakarian, CEO of CYR3CON, said, "We saw over a 70% increase in annual recurring revenue in 2020 so far. Additionally, recent successful product evaluations indicate that traction is accelerating. We also submitted 9 patent applications in the past 12 months, which means we still have new capabilities to bring to the market. This new influx of capital and our partnership with Pivotal Group will enable us to obtain our growth objectives over the next 24 months. The pandemic has caused enterprises to increase their IT infrastructure yet must still secure it while staying within budget. Our AI-based platform addresses these concerns head-on, enabling security teams to do more with less. Pivotal is the perfect partner for us to establish CYR3CON as the standard."

F. Francis Najafi, CEO of Pivotal Group, said, "In a world that is growing increasingly dependent on the use of technology, the network infrastructure of large enterprises is being bombarded daily with malicious threats and attacks, along with required updates, patches, and alerts. We believe that CYR3CON is poised for rapid growth as the company’s highly differentiated, AI-based prediction and prioritization capability fundamentally shifts how corporate enterprises prepare for and respond to these challenging times".

The Pivotal Group led the latest funding round. Other participating investors include the Trump Ventures, DF Enterprises, 3Lines Venture Capital, Hike Ventures, and some other investors.

Post funding, F. Francis Najafi, CEO of Pivotal Group, will join the Company Board of Directors team.

The company, as of now, has plans to use the new funds to accelerate the growth of its existing prediction platform. It includes expanding use cases beyond vulnerability management to include application security, security operations, and risk management for private equity funds, notes the announcement.

PC: Pablo, Pixabay