Software-as-a-Service (SaaS) security company Adallom Ltd. has raised $15 million in its second financing round. Pan-European fund Index Ventures led the round, and was joined by existing investor, Sequoia Capital. The company will use the proceeds to expand its Tel Aviv development team and its sales staff.
Adallom CEO Assaf Rappaport, CTO Ami Luttwak and VP R&D Roy Reznik co-founded the company in 2012. The founders served in the IDF Unit 8200 signals intelligence unit. The company is headquartered in Menlo Park, California and has its development center in Tel Aviv. Index Ventures partner Shardul Shah joins Sequoia Israel partner Gili Raanan, and Zohar Zisapel on Adallom's board of directors.
Adallom's solution protects information in SaaS applications and cloud services by monitoring all user activity and detecting unauthorized access to protect digital assets in real time. By correlating SaaS activity risk information, Adallom automatically detects and prevents insider threats and application-specific attacks, helping organizations extend visibility, control and compliance to SaaS and cloud services. It is the first SaaS security vendor invited to join the Microsoft Active Protections Program, by offering real-time threat mitigation for Office 365 exploitations and vulnerabilities.
"As SaaS adoption continues to grow exponentially, protection gaps in legacy perimeter defenses have become more apparent, as indicated by our growing customer base,” said Rappaport.
Published by Globes [online], Israel business news - www.globes-online.com - on January 21, 2014
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