Noetic Cyber launches with $20M funding

According to VentureBeat, cybersecurity startup Noetic Cyber has launched from stealth with $20 million, including $15 million secured from a Series A funding round. The startup, which has a platform for automated cybersecurity threat identification, will use the funds toward increasing its operations' scale, said Noetic Cyber cofounder and CEO Paul Ayers. "Noetic is designed to help security teams identify common problems that create risk and increase an organization’s attack surface. These can include the use of ‘shadow IT’ — cloud services or SaaS applications outside of the normal business approval process, missing or poorly configured endpoints creating security coverage gaps, and unsecure cloud services... We've built an extensible, API-based model... where we can map all the technical and business insights about all their assets into a virtual [graph], which security teams can then query to identify coverage gaps and policy violations that would be invisible to a specific tool," Ayers said. He added that "Many of the challenges that are driving the need for a tool like Noetic have been accelerated by the pandemic — including the growth in cloud and SaaS applications, and an increase in unmanaged devices and remote workers who need access to business-critical systems."