The Venture Codex

Led · Equity · Jul 2020

CYR3CON operates an AI-based threat-intelligence platform that predicts and prioritizes the latest cyber threats to help CISOs understand attacker behavior and emerging attacks. The company’s underlying algorithms are validated through academic research, peer-reviewed publication, and government-backed grants. CYR3CON has established customer relationships with multiple Fortune 500 firms and major cybersecurity companies seeking threat prediction capabilities. The product roadmap described in the articles expands use cases beyond vulnerability management to application security, security operations, enterprise cyber-insurance underwriting, and risk management for private equity and venture funds. Management reported over a 70% increase in annual recurring revenue in 2020 so far and disclosed nine patent applications submitted in the past 12 months. The new funding will be used to fuel growth and product development as CYR3CON seeks to carve out a differentiated niche in the cybersecurity market. Cyr3con leverages a patented hybrid of artificial intelligence and darkweb mining to automatically scout hacker communities and predict which vulnerabilities attackers are most likely to exploit. Its machine-learning models help prioritize vulnerabilities to prevent future cyberattacks before they occur. The company was originally funded by U.S. government grants and gained attention for predictions related to major incidents such as WannaCry and NotPetya. Cyr3con has gained traction with multiple Fortune 500 enterprises and cybersecurity service providers, including MSSPs. Led by CEO Paulo Shakarian, the company recently joined Dreamit Venture’s SecureTech accelerator, which is introducing Cyr3con to a variety of Fortune 500 companies and potential follow-on investors. The business is based in Tempe, Arizona.