RALEIGH — Cymatic, a Raleigh-based provider of user and entity behavior analytics, has raised $4.5 million in seed funding from prominent private angel investors.
The firm said it will use the capital to fuel the development of its user and entity behavior analytics (UEBA) pre-endpoint platform, which autonomously identifies and verifies a user’s security hygiene pre-endpoint and blocks any threats before they get past the browser.
According to the company’s estimates, compromised and vulnerable credentials have emerged as one of the biggest threats facing organizations, with 29 percent of all breaches involving stolen credentials. In 2018 alone, these stolen credentials fueled more than 28 billion credentials stuffing attacks, it said in its release.
Cymatic said it is the only UEBA platform to provide web applications “with deep visibility into and proactive remediation of the threats from human and non-human attacks, as well as the vulnerabilities users bring with them on their devices.”
“Web applications continue to be highly vulnerable to human derived threats such as poor credential and device hygiene. Unfortunately, today’s current security solutions fail at really understanding how a user’s security hygiene directly affects the cyberhealth of companies they interact with,” Jason A. Hollander, co-founder and CEO of Cymatic, said in statement.
Separately, the firm announced the appointment of former Cylance senior executive Malcolm Harkins as chief security and trust officer.
Cymatic is headquartered in Raleigh, NC with offices in California and New York.
