Israeli cybersecurity company SAM Seamless Network has completed a $12 million Series A financing round led by Intel Capital, and including participation from Dave DeWalt’s NightDragon, ADT Inc. (NYSE: ADT), and Blumberg Capital. SAM emerged from stealth in February 2018 with a seed round of $4 million, which was led by Blumberg Capital and the Richter Family Fund, which brings the total funding to date to $16 million.
SAM’s cybersecurity software provides an intuitive security system for the home IoT network, which protects local area networks and all of their connected devices directly at the source of entry at the ISPs via the router.
With the new round of funding, SAM plans to expand its machine learning research and to further its growth in US and European markets to meet its customers’ increasing security needs.
Intel is enabling the integrating of SAM technology into products in Europe and North America. Intel is leveraging SAM to further enrich its security offerings, while ADT continues to explore the possibilities of utilizing SAM’s seamless security to enhance its Digital Security offerings for residential customers across North America. Dave DeWalt, a leading cybersecurity executive and the former CEO of McAfee and FireEye, has joined SAM as board chairman.
SAM was founded by former cyber specialists in the Israeli Army, who served in elite units such as 8200 including CEO Sivan Rauscher, CTO Eilon Lotem, and Vice Chairman Shmuel Chafets. Team8 Co-Founders Nadav Zafir, Israel Grimberg, and Liran Grinberg, serve as SAM’s advisors.
Rauscher said, “We can no longer accept connectivity without security. People are often unaware of how many risks their home networks face every day,” said SAM CEO Sivan Rauscher. “By making it possible for ISPs to offer their customers secure connections and prevent daily attacks, SAM is enriching their offerings and sharing invaluable and real-time data about incoming security threats.”
The company’s technology is already integrated on parts of the network of Bezeq, Israel’s largest telecommunications operator. It is also currently operating pilot programs in Europe and North America. SAM has successfully monitored over 4 million devices, enriching its artificial intelligence cloud to reveal new attack patterns such as backdoors to IoT devices, and creating advanced security policies.
Published by Globes, Israel business news - en.globes.co.il - on November 14, 2018
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