Israeli cybersecurity company Cyber Observer has raised $8 million in a Series B financing round led by Merlin International. The Caesarea-based company will use the funds to launch its North American operations and it has established an office in Tysons, Virginia.
Cyber Observer has developed a comprehensive internal cyber hygiene platform, which provides guidance and scoring to enterprises across the market's diverse cybersecurity tool ecosystem. The company's solution provides continuous monitoring and actionable insights that allow an organization to ensure cyber hygiene, compliance to frameworks, and fully optimized tool configuration across an organization's security ecosystem with a single solution.
The company was founded by VP product Shimon Becker and VP R&D Moti Ram. Cyber Observer is the result of years of experience in large scale, complicated software development at the Israeli Prime Minister Office's Center for Computing and Information Systems. Today, the technology is already used by dozens of global large-scale enterprises in coping with complex management and technical challenges.
Cyber Observer CEO Itzik Weinstein said, "Merlin is the ideal strategic investor that we had hoped for, with a strong presence in the US market, and the management and cybersecurity expertise that will help our company grow. Together, we will extend our tools-agnostic cyber hygiene management platform that allows CISOs, InfoSec Managers and their teams the ability to gauge current security posture across all tools and security domains in the US market and beyond. Today's enterprises are faced with a diverse IT ecosystem, leaving many to be ineffectively leveraging existing tools. With Cyber Observer, we are giving back visibility and control to increase an organization's overall cybersecurity posture using the existing solutions they have in their infrastructure."
"Maintaining continuous awareness and real-time visibility in today's chaotic cybersecurity environment is difficult, if not seemingly impossible. Cyber Observer offers security teams, board members and C-level executives the rare opportunity to gain a unified view of their entire cybersecurity ecosystem," said Seth Spergel, Vice President, Emerging Technology, Merlin. "Our investment in the company underscores our excitement about the solution Cyber Observer has built. Their leadership in this space, combined with the infusion of funding to expand the product even further, leaves us uniquely positioned to change how organizations think about and improve their cybersecurity posture going forward."
Published by Globes, Israel business news - en.globes.co.il - on June 12, 2019
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