Tel Aviv: Israeli cyberscecurity startup XM Cyber said on Thursday it raised US$17 million in funding from Macquarie Capital, Nasdaq Ventures, Our Innovation Fund and Swarth Group.
XM Cyber has now raised a total of US$49 million. It will use the latest funding to grow its research and development department and expand its sales and marketing.
The company said it has seen growth in demand for its technology to simulate attacks against cloud-based resources.
CEO Noam Erez said businesses have shifted to working remotely during the COVID-19 crisis, which has added millions of endpoints to corporate networks and expanded the attack surface for cyber criminals.