Israeli cyber security company Demisto Inc. today announced that it has closed its $20 million Series B financing round. As a part of this round, the company also announced the appointment of ClearSky managing director Jay Leek to its board of directors. Round participants also included Accel, Slack Fund and other strategic investors. Today’s funding brings the company’s total funding to $26 million.
The latest funds will be used to expand operations to accelerate new product innovation and customer rollouts, and ramp sales and marketing to meet growing global demand for incident response management, automation, and real-time collaboration across security teams.
With offices in Tel Aviv and Cupertino, California, Demisto was founded in July 2015 by CEO Slavik Markovich (formerly of Intel Security, McAfee and co-founder and CTO of Sentrigo), VP marketing Rishi Bhargava (formerly of Intel Security, McAfee and Solidcore); VP products, Dan Sarel (formerly of Intel Security, McAfee, Sentrigo and Check Point); and VP engineering, Guy Rinat (formerly of Intel Security, McAfee and Sentrigo).
The founders set out to address the biggest pain point facing Security Operations teams - the ever widening security talent and skills gap combined with the lack of automation across security tools. After exploring how areas such as IT operations and DevOps are solving similar issues, the Demisto team realized that building the industry’s first chat-driven, bot-powered interface for security would best address these problems.
Markovich said, "Demisto was built to make security analysts’ lives easier with its combined incident response case management and security orchestration platform, which is unrivaled in the industry. This new funding is a testament to the tremendous and unbelievably fast growth we’ve already experienced, in less than a year since we first launched our product. We are also excited to add security visionary Jay Leek to our Board of Directors, and we will leverage his exceptional leadership and guidance as we grow our business."
Leek said, "Demisto simplifies the way enterprises manage incident response with its automated and collaborative incident response platform that delivers unprecedented insight and resolution into complex threats. I have been involved in this space for a long time, and I believe Demisto has the most comprehensive solution by combining automation and collaboration into a unified platform for security teams, and is positioned well to become a leader in the security industry."
Demisto also announced today general availability of Demisto Enterprise 2.0, making Demisto Enterprise the industry’s first comprehensive incident management platform to offer integrated threat intelligence. The new capabilities enable customers to integrate leading threat feeds with Demisto to manage indicators and automate threat hunting operations, saving time and significantly reducing the risk of exposure.
"Demisto is uniquely positioned to be the first true security system of record for the actions taken by incident responders," said Jake Flomenberg, Partner at Accel. "This new investment will help the company further accelerate its efforts to achieve this vision and increase the productivity of IR teams everywhere."
Published by Globes [online], Israel business news - www.globes-online.com - on February 9, 2017
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