AI Powered Cybersecurity Startup CYR3CON Closes Initial Investor of New Financing Round

TEMPE, Ariz., Jan. 29, 2020 /PRNewswire-PRWeb/ -- The artificial intelligence powered cybersecurity startup Cyber Reconnaissance, Inc. (d.b.a. CYR3CON) has today announced it has closed its initial investor of its first priced equity financing. The company's platform uses advanced artificial intelligence algorithms that take raw data from hacker communities to produce accurate predictions on cyberattacks.

In recent weeks, US government advisories directing specific preventative action highlight the need for threat prediction. While such advisories are useful, they do not scale to the tens of thousands of security vulnerabilities identified routinely in enterprise IT environments. This is where CYR3CON's capability to automatically predict threats – enabling the security staff to prioritize resources - makes an impact.

"The number one problem in security today is information overload. Our platform refocuses security teams to take action against the most likely exploitation vector," said Paulo Shakarian, CEO and Co-Founder of CYR3CON, "This funding will enable us to increase the velocity of our sales efforts in addition to enhancements of our product line – specifically as we add features concerning prediction of threats to IoT devices, cloud environments, and applications."

The financing round is led by Trumpf Venture, GmbH of Germany. As part of the financing, Dr. Dieter Kraft, Trumpf Venture Managing Director, will join the company's board of directors. "We are very excited to work with CYR3CON, especially due to our shared culture of innovation," said Dieter, "we also believe that there is a great market potential in bringing CYR3CON technology to industrial IoT. CYR3CON's expertise in AI combined with Trumpf connections and experience in connected manufacturing devices will well-position us for this opportunity."

CYR3CON completed 2019 with enterprise users in multiple Fortune 500 companies in addition to OEM license sales supporting several hundred organizations. The company seeks to establish its quantified predictions of cyber threat as an industry standard – as the artificial intelligence approach achieves a high level of accuracy and has undergone multiple evaluations through peer-reviews and government-funded agencies.

CYR3CON is also in the process of closing two other investors in this round. Contact CYR3CON for further information.

About CYR3CON®
CYR3CON™ predicts cyber attacks using proprietary artificial intelligence technology. The company broke new ground with key technical innovations in predicting security events and the emergence of new exploits. CYR3CON's customers use the SaaS-based platform to predict attacks and justify the use of resources to avoid costly incidents like infrastructure compromises and data breaches.

About Trumpf Venture GmbH
The high-tech company TRUMPF offers production solutions in the machine tool, laser and electronics sectors. With our corporate venture capital arm TRUMPF Venture, we are both a strategic partner and a venture capital investor for startups with an industrial focus. The TRUMPF group has more than 14,000 employees in nearly all the countries of Europe, North and South America, and Asia and achieved sales of 3.6 billion euros in 2017/18.

SOURCE CYR3CON