Vicar announced a $30 million Series B round led by cybersecurity investment firm Bright Pixel (formerly Sonae IM).
AllegisCyber Capital, AlleyCorp and Strait all participated in the financing. The company’s total funding, including investments from previous investors such as JVP, now stands at more than $56 million. The vulnerability management market is expected to reach over $21 billion by 2028.
Vicarius is revolutionizing the market with fully automated and self-driving vulnerability remediation solutions that proactively reduce cyber risks for businesses. Existing solutions generate too many alerts and too much work for overworked security teams.
Traditional vulnerability management (VM) tools that allow businesses to identify, prioritize and remediate software security vulnerabilities are increasingly struggling to meet needs, according to a study by independent analyst firm Omdia. organizations engaging in digital transformation. With an exponentially expanding attack surface, organizations face a window of exposure of up to 60 days on average after the discovery of a CVE.
The funding comes hot off the release of vuln_GPT, the company’s proprietary LLM technology that scripts detection and remediation and ushers in an era of assistive technology for security teams, and follows record growth in 5 times in the last year, driven by customer demand. for a single platform that consolidates, personalizes and evolves the vulnerability remediation process.
Since the company’s last funding round in 2022, Vicarius has expanded its customer base to more than 400 clients, adding global organizations like PepsiCo, Hewlett Packard Enterprise (HPE), Bupa, and Equinixas well as more than two dozen Fortune 500 companies.
“Whenever we look at growth-stage companies, we consider not only the mission and goals of the founders, but also the intangible factors that are often overlooked when assessing market potential,” said Fernando Martins, chief investment officer at Bright Pixel. “It is clear from the multiple discussions we have had with Michael, Roi and Yossi that their team building skills are elite. It is this particular combination of deep technical expertise and strategic recruitment that makes Vicarius a very attractive company for us.
The capital will be used to accelerate the company’s global expansion and support its growing customer base around the world, from North America to Europe. The funding will also advance Vicarius’ AI roadmap and pace of product innovation while continuing to support the company’s community initiatives such as vlabs, the R&D division dedicated to developing free security tools for the cybersecurity community; vsociety, the community of security researchers and hackers which now has more than 5,000 members; and vconnect, the partner dashboard providing unparalleled visibility into the sales pipeline from trial to close.
“The platform itself is remarkably user-friendly, making it accessible to beginners and experts alike,” says Jakab Akos, member of the company. “But what truly sets vsociety apart is its amazing community, supporting and inspiring each other on a journey of continuous learning and exploration in the world of information security. »
vRx is the company’s flagship, consolidated vulnerability remediation solution that disrupts the traditional vulnerability management market and meets the needs of today’s organizations. By leveraging in-house AI technology, Vicarius automates much of the discovery, prioritization, and remediation workload that plagues security and IT teams. An early adopter of product-led growth (PLG), Vicarius’ self-service model shifts the cybersecurity solution buyer paradigm by enabling customers to seamlessly test and find value in vRx before purchasing.
Vicarius has started AI integration with script generation using vuln_GPT, which creates vulnerability detection and remediation scripts. With this new funding, the company will continue to innovate and further integrate AI into its product platform, ultimately encompassing all modules, including prioritization and automation. This first-mover approach will help eliminate the manual work of creating and implementing patching policies as well as unpatched protection (where patches have not been developed or deployed).
“We are extremely excited to partner with the Bright Pixel team. Their rich experience will help us take our business to the next level,” said Michel Assraf, CEO of Vicarius. “Vicarius is best positioned to take on the much-needed task of transforming the vulnerability management market from assessment to remediation. We are committed to growth and have worked hard to create solutions that will be flexible as the AI landscape evolves, while remaining core to our mission of protecting our customers from vulnerabilities.
