Software-as-a-Service cyber-attack simulation startup Cymulate has raised $3 million funding round led by Susquehanna Growth Equity LLC.

Founded in 2016 in Israel, Cymulate offers a cybersimulation platform that can assess the security preparedness of customers by exposing hidden vulnerabilities on enterprise networks so they can be addressed before they can be exploited. The startup’s platform covers various systems, such as Windows Domain Network configurations, email, web traffic and web servers, providing a cloud-based, on-demand solution instead of the traditional model of quarterly or annual testing.

“By using a game-changing combination of both defense and offensive security and SaaS platform, we at Cymulate helps organizations expose the critical vulnerabilities that are present in their security infrastructure before an original attack take place,” the company founders said in a statement reported by Hacking News.

Penetration testing is a growing market, with revenues expected to rise from $3.31 billion in 2016 to $7.61 billion in 2021, according to Markets & Markets. Cymulate is small fry in an already big pond. But the cloud model that enterprises can easily tap into may allow it to find a niche in an age where high-profile hacking cases have elevated cybersecurity awareness.

Prior to the Series A round, Cymulate had raised an undisclosed amount of seed funding from company founder Eyal Gruner, who was previously founder and chief executive officer of Versafe, a fraud prevention startup acquired by F5 Networks Inc. in 2013. The company said it would use the new funding in part to hire more people.

Image: JISC