CardinalOps, which has developed technology for the automatic optimization of existing cyber protection tools in the organization, is raising $ 17.5 million, in Round A, led by the Israeli venture capital fund Viola Ventures.
Viola Ventures was joined in this round by previous investors in the company, including: Battery Ventures, Capital Scrolls, Symbol and leading cyber angels. To date, the company has raised $ 24 million, including the current round of funding.
The funds raised will be used by the company for further product development, marketing and sales, as well as recruitment of personnel and a significant expansion of the development center in Israel. Meanwhile, Cardinal Oops has announced that it has recruited Phil Narey, who will move to it from Microsoft and serve as Marketing Director (CMO) and Vice President of Defensive Cyber Strategy. In the past, Nari also served as the marketing director of the Israeli company CyberX.
The company was founded in 2020 by serial entrepreneurs Michael Momchoglo (CEO), who sold LightCyber to Palo Alto Networks and Yair Manor (VP of Technology) who also sold the cyber company he founded, Netonomy, to Allot about four years ago.
The company’s AI-based platform generates automated security recommendations, provided in the source language of a variety of cyber monitoring and protection tools that are also widely used in organizations such as Splunk, Microsoft Sentinel, IBM QRadar, CrowdStrike and more. In doing so, in fact, CardinalOps’ cloud-based platform performs operations that were previously done only by engineers with many years of experience, but are currently in severe shortage. In addition, the automated platform performs the activity more efficiently and quickly and without fear of human error.
The company’s technology is driven, among other things, by a unique algorithm based on mass outsourcing of laws and security queries. The recommendations that the system produces are mapped to standard MITER ATT & CK models, while being customized to the specific needs and security requirements of each and every organization.
Danny Cohen, managing partner at Viola Ventures, who will join CardinalOps’ board of directors, said: “Given the growing sophistication of cyberattacks, CardinalOps is bringing an innovative solution that helps organizations leverage advanced analytics to expand and optimize their cyber defense. The company is led by an experienced team of entrepreneurs and we have no doubt they can realize their vision to become category leaders.”
“With investor assistance, CardinalOps is entering a new phase of accelerated growth with the goal of realizing our vision: to incorporate artificial intelligence technologies into the core functions of information security engineering, which directly affect the organization’s security coverage efficiency,” said CardinalOps CEO and CEO Michael Momchoglo.
“The company has already demonstrated impressive growth among leading clients in diverse industries, including industrial manufacturing, financial services, hospitality, media, transportation and logistics, law firms, and information security companies. The current investment puts the company in a good position to expand its lead in “Cyber threats cover security tools that are widely used, but often ineffective,” Momchoglo concluded.
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