Cyolo Receives Investment from IBM Ventures for Zero Trust Secure Access Platform

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TEL AVIV, ISRAEL, October 12, 2022 — Cyolo, maker of a Zero Trust identity-based access solution for IT and OT, today announced a new investment from IBM Ventures. Together, IBM Ventures and Cyolo plan to collaborate and help modernize authentication for digital businesses.

In today’s digital environment, enterprises must evolve their access and connectivity security to protect today’s distributed work environments. With 84% of organizations having suffered identity-based cyberattacks, it is no longer safe to grant employees universal access to an entire network. Instead, access and connectivity must be granted on an individual basis and mapped to specific assets and data.

In addition to the financial investment, IBM will provide cybersecurity expertise and technical resources in support of Cyolo’s Zero Trust Secure Access platform. Additionally, the teams will collaborate on go-to-market initiatives ranging from partner engagements to panel sessions in support of Cyolo’s mission to connect users to the assets they need to do their jobs simply, securely. safely and efficiently.

IBM Ventures’ investment in Cyolo is further evidence of the urgent need for cybersecurity solutions that reduce complexity and work seamlessly across workforces and distributed environments. Earlier this year, IBM Ventures participated in Cyolo’s Series B round, helping the company raise $60 million in total. The new investment will help Cyolo further expand its market presence.

“For many companies, the acceleration of remote workers has created both opportunities and challenges. The distributed model for people and assets has made it difficult to connect and secure them,” said Professor Yaron Wolfsthal, Head of IBM Cyber ​​Security CoE, Israel. “With IBM’s investment in Cyolo, we will continue to focus on ensuring customers can break down silos and quickly deliver secure access across distributed environments,” said Ben Daniels, IBM Ventures Partner.

“As we see demand for identity-based access solutions continue to grow, we are excited to partner with an industry leader such as IBM to accelerate our growth and deliver even more cyber resiliency. to our already extensive reach in the market,” said the CEO of Cyolo. and co-founder Almog Apirion. “We look forward to working with IBM as we enable more businesses to have peace of mind knowing that their digital assets have end-to-end security protections in place.”

About Cyolo

Cyolo helps organizations in IT and OT spaces stay both secure and productive in an era of distributed workforces and unprecedented cyber threats. Cyolo’s next-generation Zero Trust Network Access Solution (ZTNA 2.0) enables all users, including employees, third parties, and remote and onsite workers, to seamlessly and securely connect to their environments working through modern identity-based access. With a unified solution that integrates with the existing technology stack and easily deploys in the cloud, on-premises, or in a hybrid model, Cyolo enables the global workforce to securely access applications, files, servers and workloads from any device on local networks or in the cloud. To learn more, visit https://cyolo.io.

Statements regarding IBM’s future direction and intentions are subject to change or withdrawal without notice and represent goals and objectives only.

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