Cybersecurity firm Siemplify raises $30 million, brings total to $58 million

[May 20, 2019]   TEL AVIV (Reuters) - U.S.-Israeli cybersecurity provider Siemplify said on Monday it raised $30 million in private funding, bringing its total raised to date to $58 million.

The funding round was led by Toronto-based Georgian Partners, who were joined by the company's existing investors G20 Ventures, 83North and Jump Capital.

The funds will be used to drive the expansion of Siemplify’s market strategy and enhance its product, which enables the management of various cybersecurity tools through one platform.

Siemplify, which is headquartered in New York with offices in Tel Aviv, said it had 250 percent growth in annual recurring revenue in the first quarter of 2019.

(Reporting by Tova Cohen, Editing by Ari Rabinovitch)

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