Israeli cybersecurity startup XM Cyber raises $17 million

TEL AVIV (Reuters) - Israeli cyberscecurity startup XM Cyber said on Thursday it raised $17 million in funding from Macquarie Capital, Nasdaq Ventures, Our Innovation Fund and Swarth Group.

XM Cyber has now raised a total of $49 million. It will use the latest funding to grow its research and development department and expand its sales and marketing.

The company said it has seen growth in demand for its technology to simulate attacks against cloud-based resources.

CEO Noam Erez said businesses have shifted to working remotely during the COVID-19 crisis, which has added millions of endpoints to corporate networks and expanded the attack surface for cyber criminals.

In December, XM Cyber introduced technology that can simulate attacks on Amazon Web Services.

The company has customers in the United States, Europe and Asia with a growing presence in Latin America.

Reporting by Tova Cohen; Editing by Steven Scheer