Cyber co Checkmarx raises $84m

cyber security

Checkmarx counts Coca Cola and the US Army among its customers.

Israeli cyber company Checkmarx today announced it had raised $84 million from Insight Venture Partners, a private equity and venture capital fund founded 20 years ago. Insight has made investments totaling over $10 billion in hundreds of companies.

Founded in 2006, Checkmarx is managed by CEO Emmanuel Benzaquen. The company provides information security solutions designed to prevent attacks by hackers. The company's flagship product is a system that analyzes software code and detects security breaches at an early stage. The company founder is CTO Maty Siman. It was recently reported that the company had been sold, but Checkmarx said today that it would continue operating independently.

The rapidly growing company currently has over 150 employees. Checkmarx says that it provides services to over 700 customers, including software companies, financial institutions, government agencies, etc. Among others, its customers include Coca Cola and the US Army. According to figures from the IVC database, the company raised $15 million before its current financing round. Checkmarx's investors include XT Investments, controlled by the Ofer family, K1 Capital, and Salesforce.com.

Benzaquen said today, "The company was founded with a clear goal - to lead the information security world and provide organizations with leading information protection solutions. Our partnership with US fund Insight will enable us to continue our race to increase sales around the world and expand the range of our information security solutions."

Commenting on his fund's investment, Insight managing director Richard Wells said, "The cyber challenge has become the bete noire of organizations and companies all over the world, and Checkmarx has proven success in this market. We're very glad to add Checkmarx to our investment portfolio as a company providing businesses and organizations around the world with innovative solutions for protecting their information."

Published by Globes [online], Israel business news - www.globes-online.com - on June 25, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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