Israeli cyber security co Indegy raises $12m

cyber security

In 2016, 25 israeli cyber security firms have raised a total of $283 million.

Israeli cyber security experts continue investing in their fellow cyber security experts, with no apparent slowdown in investments in this massive market. The latest $12 million raise was made by Indegy, which has now raised an overall of $18 million since it was founded in 2014.

The current financing round was led by the Vertex Ventures Israel fund, with the participation of Aspect Capital funds and the Japanese financial services firm SBI. Existing investors Magma Venture Partners and angel investors Shlomo Kramer and Amichai Shulman also participated. There is nothing more to add about Kramer. Shulman is Kramer's cofounder in Imperva (which, according to some current estimates, might be sold) and is among the richer cyber security industry entrepreneurs born in Israel. Kramer is a member of Indegy's board.

Indegy has developed a security solution for companies using industrial control systems (SCADA) for processes such as energy production, water supply, oil and gas pipelines, and building air conditioning and ventilation systems, process exposed to cyber attacks which could potentially target critical systems.

The company's technology monitors activity in industrial control systems in real-time, detecting hacking attempts before any operational damage is caused. The company's three founders, CEO Barak Perelman, CTO Mille Gandelsman and VP, R&D Ido Trivizki, are graduates of the IDF's Talpiot program. Before founding Indegy, they worked in Ariel Maislos' Stratoscale. Maislos is a cofounder of Anobit, acquired by Apple.

"Globes" has found that 25 Israeli cyber security firms have raised $283 million in 2016, 12% of total raises. In July, 7 Israeli companies have raised $68 million two of them are cyber and two are biomed firms.

Published by Globes [online], Israel business news - www.globes-online.com - on July 13, 2016

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

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