informa
/
Operations
Products & Releases

Noetic Cyber Launches with $20M in Funding

New entrant to cyber asset management and continuous controls monitoring markets brings innovative approach to fundamental cybersecurity challenge.
PR Newswire -- July 28, 2021

BOSTON, July 28, 2021 /PRNewswire/ -- Noetic Cyber, a cloud-based continuous
cyber asset management and controls platform, launched today with a total of
$20M in funding, including a new Series A round led by Energy Impact Partners,
with participation from existing seed investors TenEleven Ventures and Glasswing
Ventures. Given the recent spate of high-profile breaches taking advantage of
known vulnerabilities, Noetic Cyber's technology delivers rapid time to value
for security leaders by leveraging automation to not just find and highlight
problems, but to fix them as well.

"Good cyber asset management is foundational to addressing the inherent friction
between the IT and security teams, as it provides both parties with an accurate
view of assets to defend, potential security gaps and priorities to address,"
said Chris Steffen, research director, information security, Enterprise
Management Associates. "Noetic is able to help to bridge the gap between the
CISO and the IT organization, with an innovative approach to cyber asset
management that provides immediate value."

Unlike traditional approaches, Noetic is not agent-based, using API aggregation
and correlation to draw insights from multiple security and IT management tools.
The company's approach differs from others in the market by using graph database
technology to discover and inventory the key entities present in an
organization's environment, including cloud and on-premises systems. Noetic
builds a dynamic map of the cyber relationships between those entities,
highlighting cyber risk and non-compliant systems. Built-in orchestration and
automation drive continuous enrichment and remediation, ensuring that systems
are restored to their desired state.

"Noetic is a true market disruptor, offering an innovative way to fix the cyber
asset visibility problem - a growing and persistent challenge in today's threat
landscape," said Niloofar Razi Howe, Senior Operating Partner, Energy Impact
Partners.

The Noetic founders were key players in the creation of the security
orchestration, automation, and response (SOAR) market and have brought their
learnings from that experience to cyber asset management to fix one of the
industry's most fundamental challenges. The platform has a rich automation
workflow engine as a core part of the solution, enabling security teams to
anticipate and react to changing IT and security requirements.

"Through my discussions with CISOs and security leaders, I've repeatedly heard
that they need better visibility into their constantly changing digital
infrastructure, but equally they don't want just another dashboard of issues to
address," said Paul Ayers, CEO and co-founder, Noetic Cyber. "Security needs
certainty in order to automate processes, and with Noetic, we're providing the
high-fidelity source of truth that allows security teams to use automation to
identify, prioritize and fix problems."

Noetic's three seasoned founders have over 85 years of collective cybersecurity
experience at 9 different start-ups, most recently, all three were integral to
the development of Resilient Systems (acquired by IBM). Ayers was also a top
exec at PGP Corporation (acquired by Symantec) and Vormetric (acquired by
Thales). The other founders, Allen Rogers, Chief Product Officer, and Allen
Hadden, Chief Architect, also have significant experience at cybersecurity
vendors including Authentica, Raptor and Axent.

The company boasts an experienced team of advisors and individual investors,
including well-respected cyber investor, Niloofar Razi Howe, PwC cybersecurity
partner, Richard Horne, Cloud Security Alliance CEO and co-founder, Jim Reavis
and Nicholas Warner, COO of SentinelOne. In addition, Noetic is adding depth to
its board of directors, with the appointment of Alan Kessler as an independent
board member. Alan was previously the CEO of Thales e-Security and serves on the
boards of BlackSky, Thales and Sotero.

Noetic Cyber's initial solutions for cyber asset management and continuous
controls monitoring, built around innovative graph database technology, are
available immediately. For more information on the technology and benefits
offered, visit www.noeticcyber.com.

About Noetic Cyber
Noetic Cyber enables security teams to make faster, more accurate decisions to
detect coverage gaps and reduce cyber risk. The Noetic solution is a cloud-based
Continuous Cyber Asset Management & Controls Platform that provides teams with
unified visibility of all assets across their cloud and on-premises systems, and
delivers continuous, automated remediation to close coverage gaps and enforce
security policy. Noetic improves security tool and control efficacy by breaking
down existing siloes and improving the entire security ecosystem. Founded in
2019, Noetic is based in Boston and London. For more information, visit
www.noeticcyber.com, or follow us on LinkedIn or Twitter.

About Energy Impact Partners
Energy Impact Partners (EIP) is a global investment platform leading the
transition to a sustainable energy future. EIP brings together entrepreneurs and
the world's most forward-looking energy and industrial companies to advance
innovation. With over $2.0 billion in assets under management, EIP invests
globally across venture, growth, credit and infrastructure - and has a team of
more than 50 professionals based in its offices in New York, San Francisco, Palm
Beach, London, Cologne, and soon Oslo. For more information on EIP, please visit
www.energyimpactpartners.com.

About Ten Eleven Ventures
Ten Eleven Ventures is the original venture capital firm focused solely on
investing in digital security. The firm invests globally and at all stages, from
seed to growth (the latter via its Joint Investment Alliance with KKR). Since
its founding in Silicon Valley in 2015, Ten Eleven Ventures has raised nearly
$US 500 million and invested in 30 leading cybersecurity companies, including
KnowBe4, Darktrace, Twistlock, Verodin, Cylance, and Ping Identity. For more
information, please visit www.1011vc.com or follow us on Twitter @1011vc.

About Glasswing Ventures
Glasswing Ventures is an early-stage venture capital firm dedicated to investing
in enterprise, platform, and security startups that harness the power of AI and
frontier technologies to transform markets and revolutionize industries.
Glasswing partners with founders to help them assemble powerhouse teams, acquire
first customers, and secure the right foundation to launch and accelerate their
startups to their full potential. For more information about the firm please
visit: www.glasswing.vc

View original
content:https://www.prnewswire.com/news-releases/noetic-cyber-launches-with-20m-in-funding-301342957.html

SOURCE Noetic Cyber

Recommended Reading:
Editors' Choice
Kirsten Powell, Senior Manager for Security & Risk Management at Adobe
Joshua Goldfarb, Director of Product Management at F5