Content security start-up Adallom Ltd. has raised $4.5 million from Sequoia Capital and Zohar Zisapel. The company, founded in 2011, will use the proceeds to provide a security solution for protecting sensitive enterprise data.
As is the case with many other data security companies, Adollam's founders - CEO Assaf Rapaport, CTO Ami Luttwak, and VP R&D Roy Reznik - come from elite IDF technology units, as described in the bios on the company's website. Adollam advisory board chairman Pinchas Buchris, who joined the company later, commanded the IDF's Unit 8200 in the 1990s, and has extensive experience in the civilian market, including director general of the Ministry of Defense, and currently serves as a venture partner at Apax Partners and CEO of Oil Refineries Ltd. (TASE:ORL).
Adollam discloses little information about its technology, although its website states its intentions. It aims to "create seamless security solutions that enable the enterprise to collaborate and share information without the inherent security risks."
Following the financing round, Zohar Zisapel and Sequoia partner Gil Raanan will join Adollam's board.
The IT security market is one of the fastest growing markets in recent years. The amount of data entering enterprises, either from private users or daily activity, have created a corresponding need for a wide range of security and control capabilities for handling the data. These needs are clearly shown in surveys by computer research firms. Gartner Group estimates the IT security market totaled $17.7 billion in 2011, 7.5% more than in 2010. The market leaders are McAfee and Symantec.
Published by Globes [online], Israel business news - www.globes-online.com - on December 12, 2012
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