ALISO VIEJO, California and TEL AVIV, Israel, November 13, 2018 /PRNewswire/ --
Funding to fuel XM Cyber's Continued Growth and Innovation
UST Global, a leading digital transformation solutions company, today announced an investment in Israel-based XM Cyber. XM Cyber is a multi-award-winning provider of the first fully automated APT simulation and remediation platform.
UST Global participated in the latest funding round of XM Cyber, amongst other investors. XM Cyber provides a fully automated APT Simulation Platform to continuously expose attack vectors, above and below the surface, from breach point to any organizational critical asset. This continuous loop of automated red teaming is completed by ongoing and prioritized actionable remediation of security gaps. XM Cyber was founded by the highest caliber of security executives from the elite Israeli intelligence sector. Together they bring a proven track record in both the offensive and defensive cyber security domain. XM Cyber's customers include leading financial institutions and critical infrastructure organizations across North America, Europe, Israel and Australia.
CyberProof, UST Global's cyber security company, and XM Cyber will work on an integrated solution to enable the first cyber risk managed service for global clients. CyberProof dramatically changes the way managed security services are delivered, and together with XM Cyber, ensures an organization's risk posture is clearer than ever.
Commenting on the investment, Sajan Pillai, CEO, UST Global, said, "Investing in XM Cyber is our strategic move towards building an integrated managed security service. Our vision is to enable our global clients to manage their cyber risk with a measurable outcome, by understanding and measuring the highest risks. XM Cyber's APT simulation platform HaXM integrated with the CyberProof Defense Center (CDC) platform is the first managed security service to do this. We look forward to supporting and collaborating on our joint efforts."
"We are proud to be part of this round of funding, coming at a critical juncture in XM Cyber's rapid expansion," said Yuval Wollman, Chief Cyber Officer, UST Global. "This investment includes a strategic sales and integration agreement with CyberProof, UST Global's cyber security subsidiary, to manage cyber risk as a measured outcome. The joint solution will appeal to many of our clients who are seeking to cost effectively reduce their cyber risk exposure."
"We are thrilled to have earned UST's trust and support, and look forward to a successful and lasting partnership," said XM Cyber CEO and Co-Founder Noam Erez. "The integration of APT simulation platform HaXM and CyberProof is an inspired one that will help UST's clients to significantly reduce their exposure to cyber risk."
About UST Global
UST Global is a leading digital technology solutions company that provides advanced computing and digital services to large private and public enterprises around the world. Its clients include Fortune 500 companies in banking and financial services, healthcare, insurance, retail, technology, manufacturing, shipping, and telecom. UST Global believes in building long-lasting, strategic business relationships through agile and client-centric global engagement models that combine local experts and resources with cost, scale, and quality advantages of global operations. For more information, please visit: www.ust-global.com
CyberProof is the risk-based cyber security company, whose mission is to manage cyber risk for enterprise organizations by providing pioneering next generation services and technologies that adapt to the evolving threat landscape with cost effective prevention, detection, and accelerated response and recovery. For more information, please visit: www.cyberproof.com
SOURCE UST Global