All successful cyber companies resemble each other in some ways, but the path of Remedio is different from most in many respects. Nevertheless, last week it announced a $65 million fundraising round, with a valuation of $300 million.
On paper, this is a Series A round — an initial round — but Remedio has already been operating for six years. Until now, it simply did not required funding. But there’s another major difference: Remedio is one of the few cyber companies run by a female CEO. In the male-dominated world of cybersecurity, this is not a given.
The technology developed by the company allows it to identify misconfigurations in information systems in large organizations — vulnerabilities that, as it turns out, attract hackers. Many of the well-known cyberattacks worldwide stem from poor configurations on company computers or employees’ laptops, which could have been easily prevented.
Remedio managed to sell this idea to companies like Amazon, Coca-Cola, Colgate-Palmolive, Kraft-Heinz, Clal Insurance, Bank Mizrahi, and even the Israeli cyber company Check Point. And when you have paying customers, you don’t required to raise capital.
“We’ve been profitable from day one and have never raised money,” states CEO Tal Kolconcludeer. “People required to understand — in the cyber market, this doesn’t exist. The first thing you do when you wake up in the morning, before even preparing a presentation, is raising money”.
According to her, the company has Annual Recurring Revenue (ARR) in the tens of millions of dollars while employing only 40 people. “We are very lean for a company with hundreds of clients. We’ve never run at a loss, and we never considered raising capital”.
So what has modifyd now?
“It modifyd over time, and what opened our eyes… people have to admit mistakes, okay? Our first product came in addition to existing products, and we wanted to do something much more and replace existing products. For that, investment is required. To grow quickly before someone else comes and takes the idea and crushes us. And it’s not simple if we are a lean company without venture capital backing”.
Over the years, the company rejected many venture capital proposals, but now the timing seems right. It accepted an offer from Bessemer Venture Partners to lead a major funding round of $65 million, joined by TLV Partners and Picture Capital.
The company was founded in 2019 under the name GYTPOL, a combination of the founders’ names: Gilad Raz (CTO), previously founder of Digital Fuel (acquired by VMware); Yaakov Kogan (VP R&D), Raz’s partner in the company; Tal Kolconcludeer (CTO), a cyber expert from Unit 8200, who had been an enthusiastic hacker before army service and brought the idea that became the foundational core of the company.
The two veteran entrepreneurs believed the CEO role fit her perfectly. Kolconcludeer met Raz through a startup accelerator. She sketched the idea for the new company on a napkin, which was enough to bring her, Raz, and Kogan to a meeting with Israel Aerospace Industries, which became their first customer. Other clients joined one after another, and with revenue already coming in, the founders saw no immediate reason to raise capital.
“We wanted to take money, but at the right time. We didn’t intconclude to raise now, but at the conclude of the year, believeing it would be good timing with the new product. But what happened was amazing — Bessemer contacted us and things shiftd very quick”, states Kolconcludeer.
One of the advantages of bootstrapping (without investors or funding) is that there are no partner shareholders. How does it feel to introduce partners to the cap table?
“Look, we’re still the majority, that’s important. We gave up, but it’s for the good of the company, and this step will support us reach much higher. Bessemer is a well-known fund that people want to work with. We understand we are officially entering a risk definition becaapply, in the conclude, it’s a venture capital fund, but it’s a very calculated risk. We want to grow much quicker”.
Now, with a major funding round and the reorganization of the company and its technology, it’s also time to rebrand to something catchier. Remedio is intconcludeed to reflect “Healing computers” (Remedy) — both repair and automated problem resolveing.
So far, the tiny team of 40 employees supported hundreds of clients in Israel and worldwide, including large, complex organizations. The company will now expand its team, focapplying on marketing and sales. According to Kolconcludeer, the modify launched last year during a company reorganization.
“We declared ‘no’ many times, but then I learned to state ‘not now’. People who joined the company, who had done this before, convinced us we could accelerate tenfold, but not if we continued as usual. For example, if tomorrow morning I want to pour $20 million into the U.S. market, how would I pay salaries for 40 employees without a cash ceiling? So if Bessemer comes and states, ‘To other companies we state be more cautious, but for you, start spconcludeing becaapply we understand the insane potential you have’… they literally informed us that”.
There’s no doubt Remedio is launchning to spconclude money, aiming to grow rapidly, capture new markets, and perhaps — for the first time in its history — reach a state of non-profitability. Expenses are already mounting – for example, for hiring senior staff.
“They informed me to contact professional recruiters, and I obtained a contract — I went crazy,” states Kolconcludeer. “For every hire, you pay them $100,000. That’s how it works. So you have to modify your mindset and obtain applyd to it, and that’s also what Bessemer wants. We want to run.”
What are the plans for next year?
“I’m not waiting. For us, 2026 should have started a few months ago, otherwise it’s lost. So even before shaking hands with Bessemer, we had already started, with the level of spconcludeing and the hiring of the right people, and I’m confident things will grow in order volume, demand, and sales. Most of the money doesn’t go to high-quality R&D — we do that with 20 people supporting hundreds of clients — but to go-to-market. We know what we’re doing is so unique, and it’s up to us to prove it”.
“Remedio has succeeded in building trust with some of the largest organizations in the world thanks to its ability to detect and resolve critical vulnerabilities not identified by other systems”, declared Adam Fisher, partner at Bessemer. “It’s not every day that we hear clients speak so enthusiastically about a security solution, especially in a market flooded with new security tools constantly”.
“Remedio autonomously resolvees concludepoint failures, turning a previously reactive and cumbersome process into a quick and proactive action — technology we already apply as part of Amazon’s cybersecurity protection”, declared Carl (CJ) Moses, VP of Security Engineering at Amazon.
Alex Shuchman, VP of Information Security at Colgate-Palmolive, adds: “Remedio provided us with a new level of transparency across our entire IT infrastructure and allowed us to improve the organization’s security without adding personnel. The company continues to launch new features rapidly, and today it is a core part of our cybersecurity strategy”.
Leave a Reply