Cyota secures $7.25 million financing

Cyota secures $7.25 million financing

New York security software vendor Cyota has secured $7.25 million in a round of private financing led by Bessemer Venture Partners.

Cyota says it will use the funding to develop new products and technologies to help financial services firms fight fraud, including threats from online phishing.

David Cowan, co-founder of Verisign and general partner at Bessemer will join Cyota's board of directors.

Naftali Bennett, Cyota CEO, says "We are pleased to receive a vote of confidence from David Cowan and Bessemer... the funds raised will allow Cyota to continue to innovate and serve our customers' future security and anti-fraud needs."

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