ARLINGTON, Va.– SCYTHE, a leader in adversarial emulation, today announced the company has received $10 million in Series A funding, led Gula Tech Ventures and Paladin Capital Group. The Series A also includes investment from Energy Impact Partners (EIP), and as part of the financing, SCYTHE will add a member of the EIP management team as a Board Observer.
SCYTHE enables offensive security, defensive security, and hybrid “purple” teams to build and emulate real-world cybersecurity threats in minutes. This helps customers validate the risk posture of their business and employees. The new investment puts SCYTHE in a strong market position to expand the company’s engineering, sales and marketing and customer service operations for SCYTHE’s advanced attack emulation platform for the enterprise and cybersecurity consulting market.
“We are delighted by our investors’ enthusiastic support of our growth as cybersecurity risks and ransomware continue to grow significantly,” said Bryson Bort, CEO and Founder, SCYTHE. “What the team has been building is truly transformative and bringing on EIP’s market insights will speed that deployment and adoption in the industry.”
“SCYTHE and its attack emulation platform have an outstanding track record of enabling enterprise to protect itself and we are so pleased to be partnering up with EIP in order to help bolster the security of US critical infrastructure,” said Ron Gula, President and Co-Founder of Gula Tech Adventures, who also sits on SCYTHE’s board of directors.
“SCYTHE has demonstrated a powerful working solution that can proactively defend any organization against the most advanced cyber threats targeting US and global digital infrastructure,” said Christopher Steed, Chief Investment Officer and Manager Director, Paladin Capitol Group. “Paladin is proud and excited to support SCYTHE in its continued impressive growth.”
“Security teams are struggling to validate the efficacy of security tools and are experiencing significant tech sprawl. SCYTHE’s agentless approach helps security teams validate the efficacy of such tools and justify spend.” says Harry Giovani, Managing Partner at Energy Impact Partners. “We’re very excited to partner with the SCYTHE team and look forward to helping them bring their technology to critical infrastructure sectors.”
About Paladin Capital Group
Paladin Capital Group was founded in 2001 and has offices in Washington D.C., New York, Silicon Valley, London and Luxembourg. As a multi-stage investor, Paladin focuses on companies with technologies, products and services that meet challenging global cybersecurity and digital infrastructure resilience needs for commercial and government customers. Paladin has over $1 billion in committed capital across multiple funds. For updates, follow us on Twitter and LinkedIn or visit www.paladincapgroup.com.
About SCYTHE
SCYTHE is like hiring the hacker you always wanted, but could never could afford. SCYTHE transforms the capability and defines a new technology category: Attack, Detect, and Respond to integrate cybersecurity risk management across people, process, and technology. Based in Arlington, VA, the company is privately held and is funded by Energy Impact Partners (EIP), Gula Tech Adventures, Paladin Capital, Evolution Equity, and private industry investors. For more information email info@scythe.io, visit https://scythe.io, or follow on Twitter at @scythe_io.