Israeli AI-based security engineering startup CardinalOps raises $17.5 million
Israeli security engineering startup based on artificial intelligence Cardinal Ops Ltd. today revealed that it has raised $17.5 million in new funding to fuel the global expansion of go-to-market and product innovation activities.
Viola Ventures led Series A with Battery Ventures, Glilot Capital, Symbol and top security industry angel investors. Including the new funding, CardinalOps has raised $24 million to date.
Founded in 2020, CardinalOps offers an AI-powered platform that continuously recommends best practice detection rules for existing security information and event management. These are mapped to MITER ATT&CK threat models and customized based on an organization’s priorities and logging source.
CardinalOps markets itself as enabling security operations center engineering teams to stay ahead of the ever-changing threat landscape and organizational requirements. By continuously updating missing detections in existing security intelligence and event management, as well as expanded detection and response deployments, the company says its platform enables organizations to close security coverage gaps. riskiest threats that expose them.
The company says the ever-changing threat landscape, combined with a massive increase in log data collected from various sources, such as endpoint, network, cloud, and identity, is driving exponential growth in the complexity for SOC teams. According to a survey, more than 80% of security professionals rate the complexity of their SOC as very high, and less than 40% rate their SOC as very effective.
As such, the consequence of this complexity is the increased risk of a breach due to delays and backlogs in the manual development of new detection rules and threat hunting queries for the latest adversary techniques. The platform provides AI-powered recommendations in the native query language of security analytics solutions such as Splunk, Sentinel, IBM QRadar, and CrowdStrike. CardinalOps’ platform is supposed to do the work of highly trained detection engineers with years of training and experience, which are currently in short supply.
After launching in early 2021, CardinalOps customers now include a Fortune 50 consumer products company, a top 10 US law firm, a top 10 cable operator, and a leading provider of managed detection and response. and managed security services.
“We have already gained traction with our clients in key industries including manufacturing, financial services, hospitality, media, transportation and logistics, law firms and managed security services,” said Michael Mumcuoglu, co-founder and CEO of CardinalOps. in a report. “With our latest investment, we are well positioned to extend our leadership in optimizing global threat coverage for widely used but underused security tools.”
Along with the funding announcement, CardinalOps also announced that Phil Neray, previously Director of “Internet of Things” and Industrial Cybersecurity and Director of Product Marketing at Microsoft Corp., has joined the company as Director. marketing and vice president of cyber defense strategy.