Cybersecurity company Remedio, founded in 2019 under the name GYTPOL, announced today (Monday) that after six years of operation without external funding, it has completed a first round of funding of $65 million. The investment was led by Bessemer Venture Partners, with participation from TLV Partners and Picture Capital.
The company intends to use the capital raised to expand into additional markets, strengthen its presence in the United States, and accelerate the development of its autonomous security management solutions.
In conjunction with the fundraising, the company is introducing its new name, Remedio. It says the name was chosen to reflect the essence of its product: Remedy as healing and repairing computers, and Remediation, which emphasizes the autonomous repair performed by the platform modules today and in the future.
Remedio's solution
Remedio has developed a platform that it says provides full control over the security settings on an organization's endpoints, identifies vulnerabilities, and remediates them in real time. Its technology enables continuous, real-time management of the security status of enterprise devices. It identifies configuration failures on any operating system and device, and fixes them autonomously, using an AI engine that performs immediate repairs and has full rollback capabilities. Thus, according to the company, the solution ensures that systems remain secure and compliant with regulations, all without the need for manual intervention and without disrupting ongoing operations. The platform is available as a cloud service or in a local deployment, including isolated environments, and is particularly suitable for sensitive industries such as healthcare and security.
Unusually (unfortunately) in the cyber industry, Remedio is run by a woman: Tal Kolender, a former hacker and graduate of the IDF cyber unit, who also founded the company. The founders alongside her are Gilad Raz, founder of Digital Fuel, which was acquired by VMware, and Yaakov Kogan, a former researcher and Raz's business partner at the previous company. The Remedio team includes graduates of intelligence units, as well as experienced cyber and infrastructure experts, who operate from Israel, the United States, and Europe.
Despite a small team of only about 40 employees, the company's client list includes hundreds of the world's largest organizations, including Fortune 500 companies such as Amazon, Coca-Cola, and Palmolive Colgate.
Kolender noted that "we founded the company because we saw a fundamental flaw in organizations' security systems: configuration errors that allow silent intrusion into systems. We built a profitable and growing business, without raising a dollar. Today, after we have earned the trust of some of the world's largest companies, it is time to expand and realize the full potential of the product."
