US-based venture capital firm Old City Partners (OCP) has invested $2.4 million investment in Promisec Ltd.
Promisec is a provider of clientless solutions for LAN and WAN-based desktop and server security analysis and remediation based on unique, patent pending technology.
Promisec’s software detects, prevents, monitors and repairs irregularities within the internal network of an organization. The company has customers in Israel, the US, and western Europe, and recently signed an exclusive distribution agreement for Japan.
The comapny stated that the current round of funding will be used to continue activities in the US market.
Founded in 2004 by four former members of Mamram (the IDF Central Data Processing Unit), Promisec is based in Tel Aviv, with US offices in Boca Raton, Florida.
Promisec CEO Amir Kotler said, “The investment by OCP is a strategic investment from the company’s point of view. OCP has already enabled Promisec to reach strategic customers in the US.”
OCP president and CEO Tony B. Gelbart said, “Promisec's products fit US and other regional markets perfectly, especially markets that are ready for advanced technological solutions within the information security field. New standards and federal regulations within the US banking, financial, medical and educational fields represent a substantial commercial drive for successful marketing of Promisec's unique products.”
Old City Partners is a venture capital firm headquartered in Boca Raton, with offices in Lowell, Arkansas; St. Louis, Missouri; and Ramat Gan, Israel.
Gelbart, a businessman and philanthropist, is co-founder and chairman of Nefesh B'Nefesh, an organization whose mission is to revitalize North American aliyah (Jewish immigration to Israel). He is also a council member of the US Holocaust Memorial Museum; vice chairman of the Republican Jewish Coalition; a board member of the Foundation for the Defense of Democracies and a board member of the Jewish National Fund.