Cynomi cinches $37M for its AI-based ‘virtual CISO’ for SMB cybersecurity

Small and medium businesses are the newest targets for cybersecurity attacks, with 1 in 3 breached last year. SMBs are becoming more proactive in detecting and stopping these threats, and today a startup called Cynomi is announcing $37 million in funding to meet that demand. Insight Partners and Entrée Capital are co-leading the round, with previous backers Canaan, Flint Capital, and S16VC also participating. Cynomi previously raised around $23 million (including this seed round we covered in 2022). We understand from sources close to the deal that the valuation post-money is more than $140 million. London and Tel Aviv-based Cynomi was founded by CEO David Primor, a PhD who previously was the CTO and head of R&D of the Israeli Defense Forces; and COO Roy Azoulay, whose experience spans being a founder (his last company was one of the big innovators in deepfake detection) and a spotter of other founders (he started and led the first startup incubator at Oxford University, making a big ... Read full article.