August 29, 2023
Cypago has raised $13 million for its cyber governance, risk and compliance automation technology.
The latest funding round was led by Entrée Capital, Axon Ventures and Jump Capital.
The news also comes as Cypago announced the launch of its Cyber GRC Automation (CGA) platform, which the company says will “reshape the way businesses approach Governance, Risk, and Compliance (GRC).”
CGA combines data analytics, generative AI and natural language processing to automate governance and compliance processes. Using the platform, customers can test their security programs against standard frameworks and are given access to an AI assistant, Co-Pilot, which answers natural language questions relating to a company’s cybersecurity, risk and compliance standing.
The company said its platform responds to rising demand for organizations to protect digital assets, as operations shift increasingly online. With cybersecurity regulations and standards still being adapted to meet the shifting landscape, managing cyber processes effectively has become a priority for businesses.
“Traditional manual approaches to establishing and maintaining GRC processes are proving insufficient for the complexities of the compliance and cybersecurity landscape today,” according to a company statement. “CGA…automat[es] critical cybersecurity functions while ensuring seamless integration with existing GRC frameworks.”
With the latest funds, the Israel-based startup said it will expand into U.S. and European markets.
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