Israeli cyber security company Nyotron announced that it has closed a new $21 million financing round led by DGB Investments, with the participation of previous investors including Mitvah Shamir, Gil Agmon and Shmuel Harlap, the largest private investor in Mobileye. The financing, which was significantly oversubscribed, positions the company to increase worldwide sales and marketing activities and to expand its current offerings of innovative endpoint cyber security solutions.
Based in Herzliya, the company has also opened offices in Santa Clara, California. Nyotron also announced the appointment of former McAfee executive Peter Stewart as CEO. He is also investing in this financing round. Nir Gaist, founder of Nyotron and creator of the flagship product PARANOID, will continue to serve as CTO.
Nyotron provides a disruptive new cyber defense for endpoints using technology never before implemented in the industry. Nyotron claims that its technology stops all attacks, whether known before or never before experienced, including ransomware, advanced persistent threats and other malicious attacks. Nyotron is now installed at some of the world's most sophisticated technology operations, including a major US law enforcement agency, El Al Airlines and the Israeli military.
Recent cyberattacks, such as WannaCry and NotPetya, have demonstrated that the technologies deployed to protect the data of enterprises worldwide are NOT stopping the attacks. Not only have the attacks become more sophisticated, the sheer volume of attacks demands a new approach to endpoint security. Nyotron addresses this problem differently than any other technology. PARANOID’s protection does not depend on the type of threat or the attack vector.
Stewart said, “Nyotron offers a completely different approach to protect enterprises from “unknown unknown” attacks. This patented technology will drive our growth and continued customer traction."
Published by Globes [online], Israel business news - www.globes-online.com - on July 25, 2017
© Copyright of Globes Publisher Itonut (1983) Ltd. 2017