CYE Strengthens Cloud Security with Solvo Acquisition

CYE, a company specializing in cyber exposure management solutions, has announced its acquisition of Israeli startup Solvo that focuses on cloud security technologies, specifically Cloud Security Posture Management (CSPM) and Cloud Infrastructure Entitlement Management (CIEM). The integration of Solvo’s solution enhances CYE's Hyver platform, allowing it to offer deeper visibility into cloud assets and more robustly address configuration concerns and security gaps. With the merger, CYE aims to improve businesses' cloud security by mitigating risks and securing assets in multifaceted cloud environments. This acquisition signifies a strategic move to fortify CYE's position in the cybersecurity space by leveraging Solvo's advanced capabilities. Backed by private equity firm 83North, formerly Greylock IL, CYE sees this as an integral evolution to respond to the increasing complexities as cloud adoption grows. Solvo, which had previously raised $3 million in seed funding in 2020, views its new partnership with CYE as pivotal in advancing its mission to safeguard cloud environments more effectively.