Israeli cyber security co CyberX raises $9m

cyber security

The startup is developing solutions for the industrial Internet-of-Things market.

Israeli cyber security startup CyberX has raised $9 million in a financing round led by Flint Capital and including existing investors Glilot Capital Partners, Swarth Group, GlenRock, newly joined ff Venture Capital (ffVC) and additional angel investors. CyberX, which was founded by CEO Omer Schneider and CTO Nir Giller, both veterans of the Israeli Elite Cyber Security Unit, develops cyber security solutions for the Industrial IoT market. The company has raised $11 million to date.

CyberX has experienced rapid growth since its founding, with dozens of major deployments and a worldwide customer base in North America, EMEA and APAC. The company's technology is currently being successfully used in dozens of industrial and production environments worldwide. This rapid growth is attributed to the company's ability to deliver its unprecedented Industrial Finite State Machine (IFSM) technology, while preserving and providing immediate cyber and operational value to its customers.

With the rise of the Industrial Internet revolution, increased Machine-to-Machine connectivity and the appearance of new IIoT business models, the security challenges are growing rapidly, making the deployment of cyber security solutions a much higher priority among C-level decision makers at the world's largest manufacturers.

Giller said, "CyberX's core technology has been achieving unparalleled detection results within industrial environments. Using our dedicated Industrial IoT detection technology, IFSM, we have discovered multiple attacks, as well as critical zero-day vulnerabilities in industrial equipment. At times, this was accomplished within hours. More specifically, IIoT vendors can harness our technology to execute their go-to-market strategy without worrying about getting caught off-guard."

With its field-proven technology being adopted across verticals, ranging from Manufacturing and Energy to IIoT environments, CyberX is positioned as the leader in the Industrial IoT security revolution.

Published by Globes [online], Israel business news - www.globes-online.com - on August 2, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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