Cybric, a Boston cybersecurity startup that includes a former Yahoo chief information officer as a co-founder, has raised a $6.3 million round to accelerate the launch its "continuous Security-as-a-Service platform."
"Battling increasingly fierce cyberattacks and breaches requires greater human capital and specific expertise."
Announced on Thursday, the new financing is part of Cybric's seed round, for which it initially raised $1.3 million last November. The new round is led by Capstone Ventures, the venture arm of Boston-based investment bank Capstone Partners. Petrillo Capital, a fledgling venture capital firm based in Boston, is also participating after leading the previous round.
Besides Mike Kail, the former Yahoo CIO who is now Cybric's chief innovation officer, the startup's other co-founders include CEO Ernesto DiGiambattista and Chief Design Officer Sean Walter. Walter was among the first 10 employees at Waltham data virtualization company Actifio. Kali and DiGiambattista had been Actifio customers while they were working at Netflix and Wakefield-based consulting firm Sentinel Benefits & Security, respectively.
Cybric's security platform allows customers to continuously scan applications under development for vulnerabilities without impacting the production environment. The startup has already signed "key customers," though it did not say who they are.
“Battling increasingly fierce cyberattacks and breaches requires greater human capital and specific expertise, both of which are in short supply among organizations worldwide and putting enterprises on their heels,” DiGiambattista said in a statement. “Enterprises must proactively protect their critical applications and data without adding significant headcount and without posing a risk to their production environment."
DiGiambattista told Fortune that the company now has a headcount of 13 employees and that a live version of its product, now in alpha, is expected to be launched in the fourth quarter of this year.
Editor's name: A previous version of this article listed Andrew Gilman as COO and co-founder. BostInno has been informed he is no longer with the company and has updated the article accordingly.
