Cypago Raises $13M: Revolutionizing GRC Processes with its Cyber GRC Automation Platform

Tel Aviv-based Cypago Releases Cyber GRC Automation (CGA) Platform

Tel Aviv, 24th August, 2023 – Cypago, a leading company in Governance, Risk, and Compliance (GRC), announced the release of its Cyber GRC Automation (CGA) platform today. The platform aims to revolutionize the GRC space by bridging the gap between management, security, and operations teams. Cypago recently secured $13 million in total funding led by Entrée Capital, Axon Ventures, and Jump Capital, with support from angel investors Ariel Maislos, Prof. Ehud Weinstein, and Ofir Shalvi. The company was founded by Arik Solomon, a former executive at EY, and Yahav Peri, a former officer in the IDF Intelligence Corps and a cybersecurity expert.

Automation as a Solution to the GRC Challenge

In today’s digital landscape, organizations face a growing number of cybersecurity regulations that are designed to protect business and customer data. Compliance with these regulations can be challenging, with companies struggling to keep up with the evolving standards and certifications. In 2022 alone, more than 40 US states introduced 250 bills focused solely on cybersecurity. As the cybersecurity landscape continues to evolve, organizations must find ways to efficiently manage their Governance, Risk, and Compliance (GRC) processes.

Cypago‘s CGA platform aims to address this challenge by automating and streamlining GRC processes. The platform combines Software-as-a-Service (SaaS) architecture with advanced analysis and correlation engines, GenAI, and Natural Language Processing (NLP)-based automation. It provides complete coverage across all security frameworks and IT environments, including cloud-based and on-premises systems. By offering pre-built automation templates for frameworks such as NIST CSF, NIST 800-53, SOC 2, and ISO 27001, as well as the ability to implement custom frameworks, Cypago CGA enables organizations to adapt to diverse regulatory requirements.

Benefits of the Cypago CGA Platform

The Cypago CGA platform offers several benefits to organizations. Firstly, it increases security and GRC maturity through intuitive cross-functional workflows. The platform provides automated workflows for evidence collection, continuous control monitoring, gap discovery, and mitigation. These workflows are customizable and can be integrated with existing technology stacks, allowing for centralized visibility, management, and enforcement of IT and security requirements.

Furthermore, by automating GRC processes, the platform reduces operational friction and increases efficiency. It saves organizations countless hours of manual work and allows cybersecurity teams to focus on enhancing their business’ security, rather than being bogged down by administrative tasks. Compliance with GRC mandates is crucial, as non-compliance can result in costly fines, erode customer trust, and even lead to major data breaches. The Cypago CGA platform helps organizations reinforce trust with their customers and stakeholders by enabling them to meet and exceed GRC requirements.

Partnerships and Customer Success Stories

Cypago has already made significant strides in the GRC space and has partnered with leading companies such as Check Point, Hippo, Operative, MTX, and Trigo to help them streamline their GRC processes. Itay Semel, Head of Security & Compliance at Check Point, praised Cypago for simplifying and streamlining their compliance process, allowing them to stay up-to-date with the latest regulations through powerful integration capabilities.

Investment and Expansion

With the recent funding round of $13 million, Cypago plans to grow its R&D and product teams. The company also aims to expand its go-to-market team as it further establishes its presence in North America and the EU. This investment will enable Cypago to continue developing innovative solutions and providing organizations with the tools they need to navigate the complex landscape of compliance with ease and confidence.

Editorial: The Need for Automation in Cyber GRC

The release of Cypago‘s CGA platform represents a significant step forward in the realm of Cyber GRC. With the increasing number of cybersecurity regulations and the ever-growing complexity of compliance requirements, organizations need efficient and effective solutions to manage their GRC processes. Manual and fragmented approaches to GRC are no longer feasible, given the time-consuming nature of these tasks and the potential risks involved in non-compliance.

Automation, as demonstrated by Cypago‘s platform, offers a transformative solution to these challenges. By leveraging advanced technologies such as AI, NLP, and automation engines, organizations can streamline their GRC processes, reduce friction, and improve overall security and compliance. The ability to integrate with existing technology stacks further enhances this automation, providing centralized visibility and management of IT and security requirements.

Security and compliance are no longer siloed functions within organizations. They require collaboration between management, security, and operations teams. The Cypago CGA platform facilitates this collaboration by enabling cross-functional workflows and enhancing communication between these teams. This leads to higher GRC maturity and reinforces trust with customers and stakeholders.

As the cybersecurity landscape continues to evolve, it is essential for organizations to adopt automation and innovative solutions like the ones offered by Cypago. By doing so, they can stay ahead of the evolving regulatory landscape, protect their valuable data, and ensure the long-term success of their business.

Advice: Embracing Automation in GRC

Organizations looking to enhance their GRC practices should consider embracing automation. By automating GRC processes, companies can achieve significant benefits, including increased efficiency, reduced operational friction, and enhanced security. Here are some steps organizations can take to embrace automation in their GRC initiatives:

1. Assess Current GRC Processes:

Start by assessing the current state of your organization’s GRC processes. Identify pain points, bottlenecks, and areas that could benefit from automation.

2. Identify Appropriate Automation Solutions:

Research and evaluate automation solutions like the Cypago CGA platform that align with your organization’s needs. Consider factors such as integration capabilities, flexibility, scalability, and support for regulatory frameworks relevant to your industry.

3. Plan and Implement Automation:

Develop a comprehensive plan for implementing automation in your GRC processes. Define clear objectives, timelines, and resource requirements. Work closely with your IT and security teams to ensure seamless integration and successful implementation.

4. Train and Educate Employees:

Provide training and education to employees who will be involved in GRC processes. Ensure they understand the benefits of automation and how to effectively use the automated tools and workflows.

5. Monitor and Optimize:

Continuously monitor the performance of automated GRC processes and make necessary optimizations. Collect feedback from teams involved in GRC and make adjustments to ensure that automation is delivering the expected benefits.

By embracing automation in GRC, organizations can achieve greater efficiency, reduce the risk of non-compliance, and focus on enhancing their core strengths. Automation is no longer a luxury but a necessity in today’s rapidly changing cybersecurity landscape.

Note: The information provided in this report is based on the announcement made by Cypago. The New York Times does not endorse any specific company or product.