Sources inform ''Globes'' that IT security company Checkmarx Ltd. has closed a $8 million financing round. The round was led by a private equity fund, and may have included the companies previous investors XT Investments (formerly Ofer Hi-Tech) and strategic investor Salesforce.com Inc. (NYSE: CRM).
According to IVC, Checkmarx previously raised $6.5 million. It was founded in 2006 by CTO Maty Siman at Ofer Hi-Tech's Naiot Venture Accelerator. Emmanuel Benzaquen is the CEO.
Checkmarx does not approach information security by targeting viruses or hacking attempts, but by preemptively dealing with security breaches. It has developed technology to analyze code written for apps, offering monitoring and recommendations for correcting security problems in code that are liable to create security gaps in computer systems.
Checkmarx's business has been growing rapidly. It was recently ranked as Israel's eighth fastest growing technology company's by Deloitte's Technology Fast50 Israel 2013, after achieving 2,200% growth over the preceding five years.
Checkmarx focuses on apps, putting it in the mainstream in contemporary enterprise computing. A reason for the rapid growth of solutions such as the ones offered by Checkmarx is the need for frequent software updates. Software development teams use methodologies that include all a product's development stages - design, development, testing, and integration - at a fast pace. Checkmarx's tools can quickly scan code as it is being written, warning of weak spots in security, enabling their efficient correction.
Checkmarx will use the proceeds from the round for hiring, in view of growing demand for solutions.
Published by Globes [online], Israel business news - www.globes-online.com - on November 11, 2013
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