Cybersecurity Leader Cylus Raises $12 Million for Global Expansion
Cybersecurity leader for rail and metro, Cylus, has raised $12M in a Series A funding round to accelerate its growth in the global market. With total funding of $17 million till date, the company is already bolstering cybersecurity for leading rail integrators and other key players in the rail ecosystem. On an immediate basis, Cylus will disburse these funds for catering to the growing demand of its solutions in the U.S. EU & APAC regions. A substantial amount of the funding will go towards research and development and increase Cylus’ team size of cybersecurity experts.
“I know firsthand that cybersecurity is among the top priorities for rail executives,” said former Austrian Chancellor and former CEO of ÖBB, the Austrian Federal Railways, Christian Kern. “As cyber-attacks increasingly threaten rail safety and availability, rail stakeholders understand the pressing need for substantial cybersecurity investment. Cylus’ solution is crucial to mitigating the escalating cyber threats railway companies face. Cylus’ laser-sharp focus on this industry provides customers the huge advantage of a dedicated product designed by experts who speak both cyber and rail.”
“Rail systems have become technologically advanced, and the threat of cyber-attacks is constantly growing,” said Amir Levintal, CEO and Co-founder of Cylus. “We have already established strong relationships with key players in the rail industry and growing partnerships with leading rail operators. We are moving full steam ahead to scale our team and expand globally.”
“As part of our strategy to develop intelligent mobility solutions for a safer tomorrow, we are excited about investing in Cylus and their world-leading cybersecurity solutions,” said Prabhakar Atla, Senior Vice President, and Rail Transportation Business Unit Head, Cyient. “This investment allows us to leverage the rapid evolution of connected and intelligent rail assets and further strengthen Cyient’s value proposition of enabling the Rail Transportation industry to efficiently design, build, and maintain safe assets and secure networks,” he added.
“Cylus has moved quickly to build an unparalleled team and develop the first-to-market, dedicated solution for rail, becoming the global leader in rail cybersecurity,” said Yoram Oron, Cylus’ Chairman and Founder of Vertex Ventures. “I continue to be impressed by Cylus’ vision, their impressive traction with major rail industry players, and their uncompromising ability to help rail companies protect their networks and passengers.”
Cylus’ major investors comprise of –
- Cerca Partners
- Leon Recanati
- Former Austrian Chancellor, Christian Kern
- Zohar Zisapel
- Magma Venture Partners
- Vertex Ventures