"Cyritex" completes tens of millions of RMB angel round financing

Recently, Cyritex Company announced the completion of an angel round of financing worth tens of millions of RMB, with Plum Ventures investing in this round. The funds will be used for team upgrades, product R&D, and market expansion.

The Rapid Growth of Cybercriminal Groups Makes Active Defense an Inevitable Trend

With the development of cutting-edge technologies in emerging fields like cloud computing, IoT, and Industry 4.0, alongside ongoing digital transformation, no enterprise can exist as an island within scattered data networks, nor can any enterprise avoid the malicious reach of cyber attackers in its process of growth.

Cybercriminal organizations have exploited vulnerabilities during the reconstruction of global industrial chains amid the pandemic, gaining massive profits and growth space. They have gradually evolved from wild-growing cyber gangs into innovative, modern cybercrime syndicates. The cybersecurity field faces immense challenges, and traditional passive defense models are no longer sufficient. Enterprises should adopt proactive defense measures to prepare themselves in advance, so as to safeguard corporate information security when the massive waves of cyberattacks hit.

Enormous Potential in the Cybersecurity Industry Supported by Favourable Policies

Currently, domestic cybersecurity spending accounts for about 3% of total information technology investment, still lagging far behind developed countries in Europe and America. This indicates huge potential and room for growth in the domestic network and information security market. The latest research report from IDC shows that China's cybersecurity services market grew by 41.7% year-on-year in 2021. To implement the relevant requirements of the "Outline of the 14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and the Long-Range Objectives Through 2035", accelerate the high-quality development of the cybersecurity industry, and enhance its comprehensive strength, the Ministry of Industry and Information Technology released the "Three-Year Action Plan for High-Quality Development of the Cybersecurity Industry" last year, aiming for the industry scale to exceed RMB 250 billion by 2023.

At present, China's cybersecurity has risen to the level of national strategy, and cybersecurity development is entering a new phase of "fine-grained" cultivation. In recent years, a series of relevant laws, regulations, and standards have been promulgated, laying a solid policy foundation for the industry, urging enterprises to attach importance to information security protection, and practically verifying the effectiveness of cybersecurity protection measures. Among them, the "Cybersecurity Law" and "Data Security Law" have repeatedly raised requirements such as "continuous and regular offensive and defensive drills" and "possessing the capability to guarantee a continuous state of security".

Continuous Automated Validation of Safety Defense Effectiveness Helps Enterprise Security Building

At the end of 2021, Cyritex was officially established, pioneering the use of real APT attack scenarios to continuously validate the effectiveness of security defenses. It aims to help customers achieve 365-day continuous evaluation of their own security defense systems, solving the challenge where customers cannot continuously and automatically self-evaluate their overall defense systems due to human factors, authenticity of attacks, security strategies, and processes.

From the defense effectiveness of a single security product to the defense results of the overall security defense system, Cyritex provides customers with comprehensive, effective security validation. This covers various security dimensions such as network security, endpoint/host security, email security, AD security, cloud security, data security, IoT security, API security, and application security. The attack library of Cyritex features various known attack techniques covering different attack stages of the complete kill chain, capable of simulating thousands of valuable attack behaviors. It can also flexibly pre-define multiple validation scenarios based on industry, different tactics and techniques of the ATT&CK framework, specific attack scenarios, threat groups, and security products.

During the validation process, Cyritex ensures that customer assets and network environments remain unaffected, as all samples are harmlessly processed. The platform can provide corresponding interfaces for different roles, such as corporate executives, CISOs, and Security Operations Centers, empowering organizations to let personnel at all levels understand and communicate the current status of security work.

Customer success is the value philosophy that Cyritex always adheres to. Cyritex hopes to help customers adopt a more proactive defense approach and make sufficient preparations before cyberattacks occur. Furthermore, through visual and quantifiable validation results, Cyritex can also help enterprises optimize the configuration of security products, improve the return on security investment, and achieve fine-grained operations in security construction.

Cyritex believes that current enterprise security construction must be well-prepared in advance. What is being tested is not only the defensive capability of security products and equipment, but also the response capability of security teams to diverse cyberattacks. In the future, Cyritex will always stand from the customer's perspective, starting with the fundamental needs of security construction to help customers deepen their security defense systems and team capability building.

Investor's Perspective

Wu Shichun, Founding Partner of Plum Ventures:

Plum Ventures has always been optimistic about the cybersecurity field. With the normalization of remote work and large-scale digital transformation, attacks on corporate assets continue to expand, leading to a surge in security risks for critical information infrastructure such as finance and healthcare. The cybersecurity industry is experiencing a metamorphosis from "the biggest variable" to "the biggest increment". Cybersecurity is currently facing a transformative trend from passive defense to active prevention. Cyritex has a top-tier security analysis team and technology in the industry. It pioneered the concept of security validation and is an innovator in the domestic cybersecurity field. We believe Cyritex will grow into an industry unicorn in this new cybersecurity track.