Cynomi has announced the successful completion of its $37 million Series B funding round. The round was co-led by Insight Partners and Entrée Capital, with continued support from existing investors Canaan, Flint Capital, and S16VC. This strategic investment is set to accelerate product development and global expansion, further cementing Cynomi’s position as the standard cybersecurity AI agentic platform for service providers of all types.
Cynomi saw 3x ARR growth during 2024, following a 4.5x increase the previous year. The company, which currently supports MSPs, MSSPs, consultancies, and telcos, will use the funding to serve a broader range of service providers, including integrators and resellers. The investment will also enable Cynomi to scale its sales operations in the US and drive further expansion throughout Europe.
“With Cynomi, we have cut our cybersecurity management time and human capital needs by 50%,” said Chad Fullerton, VP of Information Security at ECI, a NYC-based, leading MSP for financial services. “Thanks to this efficiency, we've doubled our customer base, and achieved 100% adoption among our GRC customers - it's been a game-changing investment for our business.”
"This funding marks a pivotal moment in our journey, allowing us to enhance our agentic cybersecurity capabilities while also supporting the go-to-market efforts of service providers worldwide," said David Primor, Ph.D., Co-founder and CEO of Cynomi. "With this investment, we aim to empower all types of service providers to deliver superior cybersecurity services - significantly enhancing productivity by more than 70% and driving scalable growth across their customer portfolios. This comes as Cynomi seeks to set a new industry standard for cybersecurity and compliance management just as the vCISO market is experiencing rapid growth driven by accelerated demand for cybersecurity services."
Cynomi plans to advance its platform in two key directions: adding more cutting-edge cybersecurity capabilities and strengthening the ability of service providers to market and deliver security and compliance solutions effectively, in a climate where these services are in high demand and the vCISO market is quickly growing. By leveraging an AI-driven platform packed with powerful automation and actionable business insights, the company is streamlining cybersecurity processes - enabling service providers to enhance their clients' security posture, boost productivity, and drive unprecedented efficiency and scale.
"Cynomi has demonstrated impressive growth and product-market fit in the MSP and MSSP end markets," said Philine Huizing, Managing Director at Insight Partners. "The company’s innovative platform and user-centric approach to enabling robust cybersecurity posture and compliance for service providers and their end customers, combined with strong early momentum and customer love, position Cynomi as a clear standout in the cybersecurity market. We look forward to partnering with David and team on Cynomi’s ongoing expansion and product evolution.”
Cynomi has received multiple industry awards and recognitions, including the SC Awards, CRN Security 100, CRN Stellar Startups as well as IT-Harvest 150, to name a few. The company supports the cybersecurity community through multiple initiatives including its vCISO Academy and the vCISO Directory, providing resources and education for cybersecurity professionals. Cynomi’s vCISO platform is trusted by hundreds of service providers to support thousands of companies worldwide.
