November 15, 2023 at 07:21AM
RADICL, a cybersecurity startup catering to small-to-medium-sized businesses (SMBs), has secured an additional $9 million in funding for its virtual Security Operations Center (vSOC) and XTP platform. The platform aims to provide advanced cybersecurity protection and compliance with the Cybersecurity Maturity Model Certification (CMMC) to SMBs. The funding will support R&D, sales and marketing, and the commercial launch of the platform. Paladin Capital Group led the funding round with participation from other investors.
Key takeaways from the meeting notes are:
1. RADICL, a cybersecurity startup, has secured an additional $9 million in early-stage funding, bringing the total raised to $12 million.
2. RADICL offers a virtual Security Operations Center (vSOC) and its XTP platform, providing a unified solution for threat detection, monitoring, incident response, vulnerability management, security awareness training, and compliance management.
3. The Cybersecurity Maturity Model Certification (CMMC) introduced by the U.S. Department of Defense requires organizations in the defense industrial base (DIB) to adhere to strict security compliance standards. However, many SMBs struggle to meet these standards due to complexity and cost.
4. RADICL aims to help SMBs achieve CMMC compliance and provide advanced cybersecurity protection through its platform.
5. The funding will be used for platform research and development (R&D), sales and marketing expansion, and the upcoming commercial launch of RADICL’s flagship cybersecurity platform.
6. The funding round was led by Paladin Capital Group, with participation from Access Ventures, the DA Ventures Seed Fund, and strategic angel investors.
7. There is a pressing need for improved cybersecurity solutions for SMBs operating in the DIB, as they have been underserved with outdated and ineffective technology.