Israeli cyber security startup Minerva today announced a $7.5 million financing round led by Amplify Partners. The company, which devises cyber security solutions for endpoints, said that the money would be used to expand its global marketing and sales and continue the development of its anti-evasion platform. According to the company, this platform protects an enterprise's endpoints by thwarting advanced threats capable of evading the existing security methods.
Other participants in the financing round included StageOne Ventures and Webb Investment Network. The company plans to use the money raised to accelerate its growth and expand its offices in North America.
Commenting on the financing round, Amplify Partners general partner Mike Dauber said, "We are excited to support Minerva, which has developed a unique approach to end-user station security. Thanks to this investment, Minerva is now prepared to redefine the way enterprises secure end-user stations, while significantly improving the effectiveness of investments already made in security."
Minerva cofounder and CEO Eddy Bobritsky says, "We are thrilled that StageOne Ventures, Amplify Partners, and Webb Investment Network are pitching in to help put Minerva in the forefront of end-user security." He adds, "Minerva has developed a revolutionary and lean product for protecting enterprises against the deadliest attacks. What these attacks have in common is that the attackers use evasive malware and viruses that no current product can stop. Most existing defense products in the market can only prevent an attack by identifying it after the damage has already been caused. In contrast, Minerva has developed technology, protected by an international patent, that makes it possible to prevent malware penetrations without identifying them previously, without any previous information whatsoever, and before they cause any damage or carry out the attack for which they were developed. This investment will enable us to continue expanding and developing solutions that redefine the way to prevent threats to end-user stations and help enterprises derive the maximum value from their existing security tools."
Founded in 2014, Minerva has 30 employees: 20 in Petah Tikva and the rest in New York and Atlanta. Bobritsky founded the company together with CTO Erez Breiman and VP research Omri Moyal. The company took part in the Cybox competition a year ago, winning the award for the most innovative cyber security startup. The company also participated in QPrize competition last September held by Qualcomm Ventures, Qualcomm's venture capital arm, and also won first place there.
Published by Globes [online], Israel Business News - www.globes-online.com - on June 7, 2017
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