Melbourne security ISV Cydarm Technologies looks to expand into the US through incubator program

Melbourne-based cyber incident response vendor Cydarm Technologies will look to expand into the United States through an incubator program with the University of Maryland, Baltimore County (UMBC).

Cydarm has been awarded entry into the two-month iCyberCenter@bwtech global incubator program within the University, providing the company technical and business support and mentorship to help it break into the US cyber market.

Founded in 2017, Cydarm was one of the first graduates of Melbourne cyber security startup accelerator CyRise. Cydarm's platform provides case management functionality to help cybersecurity operations teams collaborate, integrate and respond to threats.

Cydarm sells to enterprise customers and managed security services providers, as well as companies with virtual or hybrid security operations centres (SOCs).

Cydarm said the iCyberCenter@bwtech program also includes a CEO-level Executive Training Program to help it accelerate its understanding of the US cyber market and provide support for developing US market entry business strategies.

“Attracting innovative international companies like Cydarm to the research and technology park at bwtech@UMBC fits well with our strategic focus and goals,” bwtech@UMBC director of entrepreneurial services Marjie Cota said.

“We look forward to providing the programs and services to assist Cydarm with making a successful soft landing into Maryland!"

Cydarm also revealed it is also taking part in an Austrade Landing Pad Boot Camp in New York this week, joining other Australian regulatory technology (RegTech) firms also looking to expand into the US market.

Cydarm founder and chief executive Vaughan Shanks said, “We are excited to have been accepted into the iCyberCenter@bwtech incubator program and look forward to scaling our United States go-to-market strategy, while continuing our ongoing product development to solve the most pressing security challenges.”

“Additionally, we are delighted to have the support of Austrade and look forward to participation in the upcoming RegTech Global Showcase in New York.”

At the boot camp, the company will show off its case management capabilities and its attribute-based access control model and report builder for data sharing.

Austrade NY’s trade and investment commissioner Steve Rank said, “Australia is the world’s third largest RegTech hub, behind the US and the UK, with over 10 percent of all RegTechs headquartered in Australia.

“Austrade is delighted to welcome Cydarm Technologies and another five leading Australian RegTech companies participating in Austrade’s New York Landing Pad program which includes an intensive boot camp to help accelerate their expansion into the US market.”