Israeli start-up Cobrador is holding its first financing round, in which it plans to raise $3-5 million. Cobrador develops enterprise security systems.
Cobrador CEO Noam Pa'il said the company was negotiating with Israeli and US venture capital funds. "We are also contacting strategic investors, especially in the security field. We contacted the largest US security companies, and there is definitely interest. I think the round will be concluded in September-October, after which we'll open an office in the US," he said.
Cobrador recently signed its first deal with Netop AG, an ISP in Bavaria, supporting and maintaining the Bavarian hospitals medical network. The deal followed a beta trial with German communications corporation Hermann Industries, which provides communications services to 60 hospitals across Germany. Under the agreement, Cobrador will install its flagship product, Bouncer, in Bavarian hospitals. The deal is worth an estimated $500,000.
Ra'anana-based Cobrador has six employees. The company is holding preliminary negotiations with an Israeli ISP to sell Bouncer as a complementary product to enterprise firewalls that will operate at the interface firewall and the communications router. Another sale to a Munich brokerage is expected in two weeks. Six months ago, Cobrador won a $500,000 seed-stage investment from a private investor. Cobrador is registered in Delaware, and has a sales office in Germany.
Published by Globes [online] - www.globes.co.il - on July 15, 2002