November 13, 2018 / 5:00 AM / in a month

Israeli cybersecurity firm XM Cyber raises $22 mln

TEL AVIV, Nov 13 (Reuters) - Israeli cybersecurity firm XM Cyber said on Tuesday it raised $22 million in a private funding round, bringing its total raised to date to $32 million.

Macquarie Capital, Nasdaq Ventures, Our Innovation Fund and UST Global, among others, invested in the company following a seed round from Swarth Group.

XM Cyber, which seeks to keep companies’ networks safe by imitating how real hackers work, said it will use the funding to accelerate growth through expanded sales, marketing and engineering programmes.

Retired Mossad chief Tamir Pardo founded XM Cyber two years ago, assembling a team of more than 30 hackers from Israel’s security and intelligence services. Pardo told Reuters earlier this year that his company’s platform continuously simulates attacks and exposes a network’s blind spots.

Customers include financial institutions and critical infrastructure organizations in North America, Europe, Israel and Australia. (Reporting by Tova Cohen)

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