Tel avivbased cider security 32m series

Tel avivbased cider security 32m series has raised $32 million in a series B funding round led by venture capital firm Vertex Ventures Israel. The funding will be used to expand the company’s research and development efforts and to increase its sales and marketing activities.

Expanding R&D Efforts

Cider Security specializes in providing cybersecurity solutions for cloud environments. Its flagship product, the Cider Enterprise platform, helps businesses secure their cloud infrastructure and applications. The platform uses machine learning algorithms to detect and prevent cyber threats in real-time. With the new funding, Cider Security plans to expand its research and development efforts. The company will hire more engineers and data scientists to improve the Cider Enterprise platform’s capabilities. The company also plans to invest in new technologies, such as artificial intelligence and blockchain, to enhance its cybersecurity solutions.

Increasing Sales and Marketing Activities

Cider Security also plans to use the funding to increase its sales and marketing activities. The company will hire more sales and marketing professionals to expand its customer base. It will also invest in marketing campaigns to raise awareness of its cybersecurity solutions. The company has already seen significant growth in recent years. Its revenue has tripled since 2019, and it has expanded its customer base to include Fortune 500 companies. With the new funding, Cider Security aims to accelerate its growth and become a leading provider of cloud security solutions.

Conclusion

Cider Security’s latest funding round is a testament to the company’s success in providing cybersecurity solutions for cloud environments. With the new funding, the company plans to expand its research and development efforts and increase its sales and marketing activities. As more businesses move their operations to the cloud, the demand for cloud security solutions is expected to grow. Cider Security is well-positioned to capitalize on this trend and become a leading provider of cloud security solutions.