Israeli corporate payment protection solutions developer nsKnox today announced the completion of a $15 million Series A financing round led by Viola Ventures and M12, Microsoft's venture fund, with the participation of Discount Capital, the investment arm of Israel Discount Bank, and previous seed investors.
nsKnox will use the funding to expand its global customer base and to further develop its corporate payment protection platform, which is based on its innovative cooperative cybersecurity technology platform. The platform ensures verified and secure business transactions, mitigate reputational risk and prevent billions in corporate losses.
nsKnox's real-time corporate payment protection platform helps defend organizations against cyber-fraud, internal fraud, social engineering and data manipulation attempts throughout the journey of the payment. The technology allows organizations to validate payment authenticity, verify sender and receiver, and identify and prevent manipulations - safeguarding the payment process seamlessly across every point of transaction, including enterprise, bank, and supplier.
nsKnox CEO Nir Tenzer said, "Businesses are so focused on protecting their data and the identity of their users that they are not doing enough to protect the very lifeblood of their organization - their money. nsKnox is bringing corporate payment protection into the digital age, arming companies in the battle against payment fraud, manipulation and cybercrime. The backing of M12 and Viola Ventures is a tremendous vote of confidence in our ability to protect organizations worldwide and help them tackle this incredibly costly issue."
"We are committed to creating an impenetrable line of defense against corporate payment fraud," said nsKnox Founder & Executive Chairman Alon Cohen, who also founded and served as Chairman and CEO of CyberArk (NASDAQ: CYBR). "This financing round is a tremendous milestone, helping us realize our vision of protecting corporate payments with our entirely new Cooperative Cyber Security paradigm. The bad guys are working together - so should the good guys. That's what nsKnox is all about."
Published by Globes, Israel business news - en.globes.co.il - on February 19, 2019
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