Secure Islands Technologies raises $1.1m in first round

The company, which was founded last year, develops solutions for safeguarding enterprise knowledge assets.

Secure Island Technologies announced today that it closed its first financing round in which it raised $1.1 million from Van Leer Ventures Jerusalem Ltd., which operates as the investment arm of Docor International Management Ltd., and the Chief Scientist, through the Technological Incubator Program headed by Rina Pridor.

Secure Island Technologies was co-founded in 2005 by brothers Yuval and Aki Eldar. It develops systemic solutions for the safeguarding of enterprise information assets. Yuval Eldar has 16 years experience of software and information security systems. He was formerly R&D group manager at Check Point (Nasdaq: CHKP), and before that he was VP R&D at Britannica Knowledge Systems. Aki Eldar has 18 years experience of IT and information security, and extensive experience in international sales. He previously served as VP sales at Bynet Data Communication where he managed annual sales worth tens of millions of dollars to customers in Israel and other countries.

Secure Island Technologies’ solution enables enterprise information security managers to safeguard their knowledge assets without harming business procedures. It allows security managers to define and identify security risk in business terms, and tailor suitable effective solutions together with business unit team leaders.

Van Leer Ventures CEO Oren Gershtein said, “Secure Island Technologies’ unique technology will give global enterprises optimal control over sensitive information, under the most stringent regulations. The finance will enable the company to complete the development of the product and prepare for initial sales and international marketing during 2008.”

This is Van Leer Ventures’ second investment in the past month. In early November it invested $900,000 in OriginGPS, which is developing a unique technology for minimizing RF modules, thereby enabling the creation of an exceptionally small GPS module.

Published by Globes [online], Israel business news - - on December 7, 2006

© Copyright of Globes Publisher Itonut (1983) Ltd. 2006

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