Israeli start-up Safend Ltd. and computer security company Black Hat today launched a new solution for the small and medium-sized business (SMB) market. The product will enable small businesses to restrict employee use of a particular type of DiskOnKey (DOK) solution as defined by the company’s security policy.
Safend has been active in the computer security market since 2004. The company develops software to prevent the leak of information and the penetration of enterprise networks via end-user devices, with a current focus on USB defense. The company has agreements with several large flash memory manufacturers, including SanDisk Corp. (Nasdaq: SNDK) and Kingston Technology Company Inc.
Safend founder and CEO Gil Sever believes that the company’s SMB solution will achieve hundreds of thousands of dollars in sales over the coming year. The company plans to achieve millions of dollars in sales in 2006, five times its sales in 2005.
In early 2006, Safend raised $7.5 million from Intel Capital, Walden Israel and Elron Electronic Industries Ltd. (Nasdaq: ELRN; TASE: ELRN). The company has raised $10 million to date. It plans to break even in 2007, and currently has 50 employees, 35 in Israel, and 250 customers.
Published by Globes [online], Israel business news - www.globes.co.il - on August 7, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006