– ISRAEL, Tel Aviv – CardinalOps, the threat coverage optimization company, today announced it has secured $17.5 million in Series A funding led by Viola Ventures, with participation from existing investors Battery Ventures, Glilot Capital, Symbol, and top angel investors from the security industry, bringing total capital raised to $24 million.
Concurrently, Danny Cohen, general partner at Viola Ventures, is joining the Board of Directors.
Danny Cohen said “We have a 20-year track record of identifying outstanding teams and supporting them to unicorn status and beyond, and we believe CardinalOps has all the right ingredients to become a global category leader in cybersecurity. Led by visionary founders, CardinalOps is helping organizations leverage analytics to scale and optimize their cyber defenses in the face of continuously-increasing sophistication of cyber adversaries worldwide..”
The constant change in the global threat landscape, combined with a massive increase in log data from diverse sources (endpoint, cloud, identity, etc.), is driving exponential growth in complexity for Security Operations Center (SOC) teams. In fact, according to Ponemon, more than 80 percent of security professionals rate the complexity of their SOC as very high, and less than 40 percent assess their SOC as highly effective.
The leading consequence of this complexity is the increased risk of a breach due to backlogs and human error in manually developing new threat detection rules and queries for the latest adversary techniques. By delivering AI-powered recommendations in the native query language of widely used security analytics solutions (such as Splunk, Sentinel, IBM QRadar, CrowdStrike, etc.), CardinalOps’ cloud-based platform does the job of skilled detection engineers with years of experience – but faster and without the risk of human error. Derived from CardinalOps’ proprietary knowledge graph of best practice detection rules and queries, all recommendations are mapped to standard MITRE ATT&CK threat models, customized according to the organization’s risk-based priorities and infrastructure, and automatically deployed to rapidly eliminate gaps in threat coverage.
“With support from our investors, CardinalOps is entering its next phase of growth to achieve our vision of helping customers bring AI-based analytics to the core detection engineering functions that inevitably drive security infrastructure effectiveness and efficiency,” said CEO and Co-Founder, Michael Mumcuoglu. “We have already gained significant traction with our customers across key industries, including manufacturing, financial services, hospitality, media, transportation & logistics, law firms, and managed security services. With our latest investment, we are well-positioned to extend our leadership in global threat coverage optimization for widely-used but often under-utilized security tools.”
About CardinalOps
CardinalOps brings AI-powered analytics enabling organizations to stay ahead of constant change in adversary techniques while maximizing their existing investments in SIEM/XDR solutions. By continuously recommending the latest best practice detection rules and queries – mapped to MITRE ATT&CK and customized according to their risk-based priorities – the CardinalOps platform empowers detection engineering teams to close the riskiest threat coverage gaps that leave their organizations exposed.
Founded in early 2020, CardinalOps is led by serial entrepreneurs whose previous companies were acquired by Palo Alto Networks, HP, Microsoft Security, IBM Security, and others. The company’s advisory board includes Anton Chuvakin, recognized SIEM expert and former Gartner Research VP and Distinguished Analyst (now at Google Chronicle); Dan Burns, former Optiv CEO and founder of Accuvant (also an investor and board member); and Randy Watkins, CTO of Critical Start.
For more information: https://www.cardinalops.com/
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