Cyber Asset Management Startup Noetic Emerges from Stealth with $20M in Funding

Noetic Cyber, a cloud-based continuous cyber asset management and controls platform, launched today with a total of $20M in funding, including a new Series A round led by Energy Impact Partners, with participation from existing seed investors TenEleven Ventures and Glasswing Ventures. Given the recent spate of high-profile breaches taking advantage of known vulnerabilities, Noetic Cyber’s technology delivers rapid time to value for security leaders by leveraging automation to not just find and highlight problems, but to fix them as well.

We spoke with Noetic CEO and Co-Founder Paul Ayers to discuss the company's mission and what we can expect from Noetic in the next year.

What is the mission of Noetic Cyber?


Noetic’s mission is to empower security teams with a better way to assess and improve their security posture. It comes from a fundamental security challenge – you can’t protect what you don’t know is there. Noetic’s goal is to provide security with the insights they need to know what they have, it’s current security state and the business context to help them understand why it matters. We don’t want to just provide visibility though, our solution is designed to find problems once, and fix them continuously using orchestration and automation.


What problems do you aim to solve? Why are they critical?


The fundamental problem that we aim to solve is the cyber asset management problem. This has been caused by the technology sprawl we’re all experiencing – the huge uptake in SaaS application and Cloud services means that new assets and entities are created constantly, with unclear security controls, they can also quickly disappear, leaving security teams blind to their potential impact to the business.


Current IT asset management solutions are not designed with security needs in mind. They are typically owned by IT and focused on asset ownership and software licensing. They usually rely on an endpoint agent and often lack visibility into cloud estates. Security needs different information into the security posture of assets – do they have any critical vulnerabilities, what data do they have access to, what would be the ‘blast radius’ if a given asset was compromised.


This is a critical problem for security leaders, as asset management is fundamental to understanding risk and prioritizing work. Endpoint security tools or vulnerability scanners are only effective when they have been deployed – they can’t protect systems they don’t know about, so recognizing and closing security coverage gaps is a big priority for security teams, as they work to reduce their attack surface.


How are you differentiated in the market?


At Noetic, we’ve built an extensible, API-based solution that works with the existing tools you have, so we don’t need to deploy any agents. We’re taking the key insights from all the security and IT management tools and using the data to map all the assets in the business, and their cyber relationship to each other. This allows us to understand security gaps and policy violations and help security to prioritize them based on risk and business criticality.

We’re not just providing a dashboard of problems, we’re building a continuous model, using a powerful orchestration and automation engine. Teams can set workflows to remediate common problems, so that you only need to find something once to fix it continuously.


What are your goals for the company in the next year?


The goals are to continue to work with our customers and prospects to continue to build on our cyber asset management platform. The platform is fully extensible, and the beauty of our approach is that it allows us to easily add more applications and use cases on top of our core asset visibility and management model. We will continue to add more connectors to support customer use cases and will be bringing a comprehensive controls package to market later in 2021, as well as a community edition in 2022.


In addition, we will be growing out the team in both Boston and London to support customers and market development.


Where can readers find more information about your offering?


You can find out more about Noetic at www.noeticcyber.com


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