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There\u2019s a growing number of cybersecurity regulations designed to keep business and customer data protected. In 2022 alone, over 40 U.S. states introduced 250 bills focused on cybersecurity, according<\/a> to the National Conference of State Legislatures. And more are on the way<\/a>.<\/p>\n The trend\u2019s a clear win for consumers. But some firms are struggling to keep up with the emerging standards and certifications. According<\/a> to one survey, 63% of companies \u2014 concerned about the consequences of noncompliance \u2014 plan to spend more money this year on compliance and risk.<\/p>\n That\u2019s been to the benefit of startups like Cypago<\/a>, which attempts to automate cybersecurity processes and workflows around cyber governance, risk and compliance. Founded by Arik Solomon, a former EY executive, and Yahav Peri, previously an officer in the Israel Defense Forces intelligence corps, Cypago has raised $13 million in funding (plus $2 million in debt) led by Entr\u00e9e Capital, Axon Ventures and Jump Capital.<\/p>\n Solomon says he was inspired to launch Cypago by his experiences at EY, which involved helping companies through exhaustive security assessment exercises. CISOs and security teams often had trouble manually validating their security programs against their business requirements, he says, which discouraged them from reaching full compliance.<\/p>\n \u201cThe cyber governance, risk and compliance criteria is only going to become more stringent and complex, and for businesses to effectively meet quickly evolving standards, the latest AI and tech will need to be deployed,\u201d Solomon told TechCrunch via email. \u201cWe at Cypago have set out to help security teams overcome challenges in the space with a turnkey software-as-a-service platform that allows for easy implementation, fast adoption and API-based integrations with existing tech stacks.\u201d<\/p>\n A glimpse at Cypago\u2019s dashboard, where customers can view the status of their company\u2019s governance, risk and compliance programs.<\/p>\n<\/div>\n Cypago, which is designed to play nicely with both cloud-based and on-premises environments, taps AI to attempt to automate the work involved with collecting and analyzing data related to security, compliance, and privacy controls. Across different tools and services, via no-code workflows, Cypago enables customers to measure and test their security programs against standards and common frameworks.<\/p>\n For example, Cypago can parse a company\u2019s service documents to identify \u2014 and even fill \u2014 potential gaps in security policies. And it provides access to an AI assistant called Co-Pilot, which delivers answers to natural language questions about a company\u2019s overall cybersecurity and governance, risk and compliance posture.<\/p>\n \u201cCypago leverages proprietary-built models, specifically tailored for the cybersecurity governance, risk and compliance domain, that are able to analyze, understand and generate complex texts in documents and policies,\u201d Solomon said. \u201cThese capabilities, combined with data from integrations with existing cloud and on-premise tool stacks, makes Cypago the first-of-breed platform to provide full cybersecurity visibility and enforcement from documents to systems\u2019 data.\u201d<\/p>\n Certainly, Cypago promises a lot. And it\u2019s not competing alone in a governance, risk and compliance market that was estimated to be worth $47.22 billion in 2022, according<\/a> to Grand View Research.<\/p>\n Beyond the roster of solutions from Oracle, HPE, Thomson Reuters, IBM and other established vendors, there\u2019s a number of governance, risk and compliance management software upstarts vying for attention. See Osano<\/a>, which helps companies monitor and manage their risk and compliance with privacy laws like GDPR; Kompliant<\/a>, which focuses on financial compliance; and Kintent<\/a>, which seeks to abstract away a range of traditional enterprise compliance tasks.<\/p>\n Is Cypago differentiated? Does it deliver on all of its claims? Perhaps. In any case, the startup\u2019s seeing relatively healthy uptake, according to Solomon, with a customer base that spans \u201cdozens\u201d of brands including Check Point, Hippo Insurance and Trigo.<\/p>\n With the new cash, Cypago, which is based in Tel Aviv, plans to grow its R&D division and product teams to support its go-to-market efforts in North America and the EU. Solomon says that the startup\u2019s team will expand from 26 employees to \u201c30 or more\u201d by the end of the year \u2014 an impressive commitment given the current political unrest in Israel and its effect<\/a> on the local tech sector.<\/p>\n \u201cThe pandemic only accelerated the demise of the corporate network perimeter,\u201d Solomon added. \u201cLikewise, with the sustained movement to remote work and an increasing reliance on hybrid and multi-cloud services, organizations are now faced with more headwind in terms of achieving and maintaining governance, risk management and compliance across disparate frameworks and environments.\u201d<\/p>\n<\/p><\/div>\n