Cybersecurity Startup Cynet Raises $13 Million

Cybersecurity startup Cynet Security Ltd. announced Wednesday it completed a $13 million Series B investment round led by Shlomo Kramer, co-founder of Check Point Software Technologies Ltd., and venture capital firm Norwest Venture Partners. Existing investor Lazarus Israel Opportunities Fund LLLP, known as Ibex Investors, also participated in the round. Cynet has raised $21 million to date.

Cynet offers a cyber threat detection and response platform marketed primarily to small and medium-sized enterprises. Cynet reports hundreds of clients worldwide. The company employs 70 people, 60 of which in its offices in central Israel. Cynet said it intends to use the funding to hire additional employees in Israel, the U.S., and Europe.