Seemplicity, Leveraging AI for Cybersecurity, Secures $50 Million in Funding
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Israeli cybersecurity company Seemplicity has successfully raised $50 million in its Series B funding round. This round was led by Sienna Venture Capital, with participation from Essentia Venture Capital and existing investors Glilot Capital Partners, NTTVC, and S Capital. Seemplicity is headquartered in Tel Aviv and also has a branch in Palo Alto, Silicon Valley.
Founded in 2020, Seemplicity specializes in helping businesses optimize their approach to vulnerability and risk management. The company states that artificial intelligence will play a crucial role in this process by automating the aggregation, prioritization, and remediation of vulnerabilities. By integrating AI technology, Seemplicity aims to reduce the tedious manual tasks required by security teams, enabling them to respond to security threats more efficiently.
The new funding will be used to accelerate the development and deployment of AI agents to provide personalized risk insights and actionable guidance. Seemplicity plans to help teams streamline workflows based on their specific business needs and external threat intelligence, allowing them to address potential security issues more effectively. The company's goal is to "reduce exposure noise by 95% and prioritize the 5% of critical issues," enabling businesses to focus on truly significant risks.
The global shortage of cybersecurity talent has also driven Seemplicity's growth. Data shows that there is currently a shortage of approximately 4 million cybersecurity professionals worldwide, making improved efficiency essential. Seemplicity plans to use the new funding to expand its market presence in the U.S. and strengthen its business penetration in the UK and Europe, while also driving revenue growth through new sales channels.
Since its Series A funding in 2022, Seemplicity has achieved significant business growth, with annual recurring revenue increasing by 800% and its customer base tripling. CEO Yoran Sirkis stated, "This funding comes at a time of tremendous growth and customer adoption, highlighting the urgent need for more actionable exposure management solutions among security teams. Our AI platform proactively delivers risk insights, generates remediation plans, and automates task assignments, saving teams valuable time."
Lior Litwak, Managing Partner at investor Glilot Capital Partners, added, "We believe Seemplicity's AI platform fills a critical gap in the cybersecurity market, positioning the company as a global leader in exposure management. Since the Series A round, we've witnessed how effectively Seemplicity addresses the needs of enterprise security teams, significantly reducing their workload while enhancing cybersecurity posture."
Key Takeaways:
Seemplicity raised $50 million in Series B funding to accelerate AI innovation.
The company uses AI to automate vulnerability management, improving efficiency for security teams.
Since 2022, Seemplicity has achieved 800% growth in annual recurring revenue and tripled its customer base.