Cysiv, a Dallas, TX-based enterprise SOC-as-a-Service company, closed a $26m Series A financing.
The round was led by ForgePoint Capital, with participation from Trend Forward Capital. Pursuant to ForgePoint’s investment, Alberto Yépez has joined the company’s Board of Directors. Andrew McClure, principal at ForgePoint, has joined the Board of Directors as an observer.
The company intends to use the funds to scale business operations and accelerate further platform enhancements.
Incubated within Trend Micro, a global provider of cybersecurity solutions, and launched in 2018 as a partnership with HITRUST®, a data protection standards development and certification organization, Cysiv provides a cloud native, co-managed SOC technology platform that incorporates key technologies, including security information and event management (SIEM), security operations analytics and response (SOAR), user and entity behavior analysis (UEBA) and a threat intelligence platform, in a single solution.
The platform is technology- and vendor-agnostic and can ingest security logs from a wide range of sources, along with other important contextual data, and leverages advanced data science techniques to automate the time-consuming, complex but critical activities for detecting, investigating and remediating hidden, evasive and emerging threats.
Led by CEO Partha Panda, the company now operates as an independent company, having spun out of Trend Micro.