Cynomi, an AI-powered, virtual CISO (vCISO) platform for managed service providers (MSPs) and managed security service provider (MSSPs), raised $20 million in Series A funding to accelerate its global expansion and refine its offerings. The investment round was led by Canaan with participation from Flint Capital, s16vc, and Aloniq.
This new capital will enable Cynomi to broaden its reach and fortify its vCISO platform, designed to help partners address the widespread cybersecurity skills gap and expand their businesses efficiently.
Cynomi is recognized for pioneering the vCISO service market, experiencing rapid adoption as businesses prioritize robust cybersecurity measures. The company’s vCISO platform leverages AI and CISO-level insights to automate and streamline cybersecurity tasks, allowing MSPs and MSSPs to deliver high-level security to SMEs cost-effectively.
A recent survey they conducted highlighted that while only 19% of MSPs and MSSPs offered vCISO services in 2023, approximately 86% plan to introduce or expand these services by the end of 2024. Cynomi’s platform is uniquely positioned as the exclusive vCISO solution sold through channel partners, already serving over 100 providers.
Founded in 2020 by David Primor and David Azoulay, the startup previously raised $3.5 million seed funding in 2022, bringing their total funding to $23.5 million.
