Cypago Raises $13M and Unveils its Cyber GRC Automation (CGA) Platform to Simplify GRC Processes

PRESS RELEASE

[Tel Aviv, 24th August, 2023] – Cypago announced the release of its Cyber GRC Automation (CGA) platform today, revolutionizing the GRC space by bridging the gap between management, security, and operations teams. This announcement follows the company’s $13M in total funding led by Entrée Capital, Axon Ventures, and Jump Capital, including prominent angel investors such as Ariel Maislos, Prof. Ehud Weinstein, and Ofir Shalvi.

As the frontrunner in GRC, the company was founded by Arik Solomon, a former EY executive and Yahav Peri, a former officer in the IDF Intelligence Corps and a cybersecurity expert. Cypago’s CGA platform is designed to enable organizations to automate and streamline the increasingly unwieldy Governance, Risk, and Compliance (GRC) processes that organizations need to maintain. 

The growing number of cybersecurity regulations designed to keep business and customer data protected have created an onslaught of standards and certifications that companies struggle to keep up with. In 2022, more than 40 US states introduced 250 bills focused on cybersecurity alone, and this number will only increase over time, especially as the White House continues to outline its vision for a cybersecurity implementation plan. 

The revolutionary Cypago Cyber GRC Automation (CGA) platform combines SaaS architecture and advanced analysis and correlation engines, GenAI, and NLP-based automation, delivering complete coverage across all security frameworks and IT environments, including cloud-based and on-premises systems. Cypago CGA increases security and GRC maturity through intuitive cross-functional workflows. The Cypago CGA platform offers hundreds of out-of-the-box automation templates for frameworks such as NIST CSF, NIST 800-53, SOC 2, and ISO 27001, as well as the ability to implement custom frameworks. 

Furthermore, the Cypago CGA platform offers customizable no-code automated workflows for evidence collection, continuous control monitoring, gap discovery, and mitigation, leveraging easy integrations to existing tech stacks for centralized visibility, management, and enforcement of IT and security requirements. This enables GRC management, security, and operations teams to reduce operational friction and enhance the Cyber GRC program efficiently, all while reinforcing trust with their customers and stakeholders.

"Traditionally, running cyber GRC processes has been a manual, fragmented, and time-consuming process,” said Arik Solomon, Co-Founder & CEO of Cypago. “As the risk of cyber threats continues to rise, the volume and complexity of security-related GRC obligations grow, adding to the burden over time. This diverts valuable attention from cybersecurity teams, which should be focused on enhancing their business' security. Non-compliance with GRC mandates can result in costly fines, erode customer trust, and even major data breaches. We’re excited to lead the way in cyber GRC automation, saving organizations countless hours of manual work, improving collaboration with adjacent teams and stakeholders, and allowing them to focus on their core strengths." 

"The Cypago CGA platform is transforming the way companies approach GRC processes,” said Adi Gozes, a partner at Entrée Capital. "By automating and streamlining the implementation of security standards, Cypago liberates enterprises from the cumbersome and resource-intensive nature of these processes, paving the way for a safer future where GRC requirements transcend mere checkbox compliance. We are delighted to be partnering with Cypago as they drive forward improvements in GRC practices, ensuring organizations can navigate the complex landscape of compliance with ease and confidence."

Cypago is already helping leading companies like Check Point, Hippo, Operative, MTX, and Trigo navigate the choppy waters of GRC processes. 

“Cypago simplified and streamlined our compliance process. We are able to stay up-to-date with the latest regulations thanks to its powerful integration capabilities," said Itay Semel, Head of Security & Compliance at Check Point.  

With the closing of its recent funding round, Cypago will grow its R&D and product teams and expand its go-to-market team as it further develops its presence in North America and the EU. 

For more information about Cypago, visit https://cypago.com/.

About Cypago

Cypago’s revolutionary SaaS-based Cyber GRC Automation (CGA) platform redefines the three lines model by eliminating friction and bridging the gap between management, security, and operations. It transforms GRC initiatives into automated processes, enabling in-depth visibility, streamlining enforcement, and significantly reducing overall costs. The platform leverages innovative technologies, including advanced analysis and correlation engines, GenAI, and NLP models, designed to support any security framework in any IT environment, both in the cloud and on-premises. Cypago was founded in 2020 by tech leaders and cybersecurity veterans with decades of combined experience in the development, operations, and commercialization of cybersecurity solutions. For more information, visit https://cypago.com/.