Noetic Cyber Launches with $20M in Funding
New entrant to cyber asset management and continuous controls monitoring markets brings innovative approach to fundamental cybersecurity challenge
Boston, Ma. – July 28, 2021 – Noetic Cyber, a cloud-based continuous cyber asset management and controls platform, launched today with a total of $20M in funding, including a new Series A round led by Energy Impact Partners, with participation from existing seed investors TenEleven Ventures and Glasswing Ventures. Given the recent spate of high-profile breaches taking advantage of known vulnerabilities, Noetic Cyber’s technology delivers rapid time to value for security leaders by leveraging automation to not just find and highlight problems, but to fix them as well.
“Good cyber asset management is foundational to addressing the inherent friction between the IT and security teams, as it provides both parties with an accurate view of assets to defend, potential security gaps and priorities to address,” said Chris Steffen, research director, information security, Enterprise Management Associates. “Noetic is able to help to bridge the gap between the CISO and the IT organization, with an innovative approach to cyber asset management that provides immediate value.”
Unlike traditional approaches, Noetic is not agent-based, using API aggregation and correlation to draw insights from multiple security and IT management tools. The company’s approach differs from others in the market by using graph database technology to discover and inventory the key entities present in an organization’s environment, including cloud and on-premises systems. Noetic builds a dynamic map of the cyber relationships between those entities, highlighting cyber risk and non-compliant systems. Built-in orchestration and automation drive continuous enrichment and remediation, ensuring that systems are restored to their desired state.
“Noetic is a true market disruptor, offering an innovative way to fix the cyber asset visibility problem – a growing and persistent challenge in today’s threat landscape,” said Niloofar Razi Howe, Senior Operating Partner, Energy Impact Partners.
The Noetic founders were key players in the creation of the security orchestration, automation, and response (SOAR) market and have brought their learnings from that experience to cyber asset management to fix one of the industry’s most fundamental challenges. The platform has a rich automation workflow engine as a core part of the solution, enabling security teams to anticipate and react to changing IT and security requirements.
“Through my discussions with CISOs and security leaders, I’ve repeatedly heard that they need better visibility into their constantly changing digital infrastructure, but equally they don’t want just another dashboard of issues to address,” said Paul Ayers, CEO and co-founder, Noetic Cyber. “Security needs certainty in order to automate processes, and with Noetic, we’re providing the high-fidelity source of truth that allows security teams to use automation to identify, prioritize and fix problems.”
Noetic’s three seasoned founders have over 85 years of collective cybersecurity experience at 9 different start-ups, most recently, all three were integral to the development of Resilient Systems (acquired by IBM). Ayers was also a top exec at PGP Corporation (acquired by Symantec) and Vormetric (acquired by Thales). The other founders, Allen Rogers, Chief Product Officer, and Allen Hadden, Chief Architect, also have significant experience at cybersecurity vendors including Authentica, Raptor and Axent.
The company boasts an experienced team of advisors and individual investors, including well-respected cyber investor, Niloofar Razi Howe, PwC cybersecurity partner, Richard Horne, Cloud Security Alliance CEO and co-founder, Jim Reavis and Nicholas Warner, COO of SentinelOne. In addition, Noetic is adding depth to its board of directors, with the appointment of Alan Kessler as an independent board member. Alan was previously the CEO of Thales e-Security and serves on the boards of BlackSky, Thales and Sotero.
Noetic Cyber’s initial solutions for cyber asset management and continuous controls monitoring, built around innovative graph database technology, are available immediately. For more information on the technology and benefits offered, visit www.noeticcyber.com.
About Noetic Cyber
Noetic Cyber enables security teams to make faster, more accurate decisions to detect coverage gaps and reduce cyber risk. The Noetic solution is a cloud-based Continuous Cyber Asset Management & Controls Platform that provides teams with unified visibility of all assets across their cloud and on-premises systems, and delivers continuous, automated remediation to close coverage gaps and enforce security policy. Noetic improves security tool and control efficacy by breaking down existing siloes and improving the entire security ecosystem. Founded in 2019, Noetic is based in Boston and London. For more information, visit www.noeticcyber.com, or follow us on LinkedIn or Twitter.
About Energy Impact Partners
Energy Impact Partners (EIP) is a global investment platform leading the transition to a sustainable energy future. EIP brings together entrepreneurs and the world’s most forward-looking energy and industrial companies to advance innovation. With over $2.0 billion in assets under management, EIP invests globally across venture, growth, credit and infrastructure – and has a team of more than 50 professionals based in its offices in New York, San Francisco, Palm Beach, London, Cologne, and soon Oslo. For more information on EIP, please visit www.energyimpactpartners.com.
About Ten Eleven Ventures
Ten Eleven Ventures is the original venture capital firm focused solely on investing in digital security. The firm invests globally and at all stages, from seed to growth (the latter via its Joint Investment Alliance with KKR). Since its founding in Silicon Valley in 2015, Ten Eleven Ventures has raised nearly $US 500 million and invested in 30 leading cybersecurity companies, including KnowBe4, Darktrace, Twistlock, Verodin, Cylance, and Ping Identity. For more information, please visit www.1011vc.com or follow us on Twitter @1011vc.
About Glasswing Ventures
Glasswing Ventures is an early-stage venture capital firm dedicated to investing in enterprise, platform, and security startups that harness the power of AI and frontier technologies to transform markets and revolutionize industries. Glasswing partners with founders to help them assemble powerhouse teams, acquire first customers, and secure the right foundation to launch and accelerate their startups to their full potential. For more information about the firm please visit: www.glasswing.vc
Merritt Group for Noetic Cyber