Israeli cyber security company SafeBreach has closed a $15 million Series A funding round. The round includes new investors Deutsche Telekom Capital Partners, Hewlett Packard Pathfinder and Maverick Ventures, along with previous investors Sequoia Capital and Shlomo Kramer. With the new funding, the company, which has developed continuous security validation, will expand R&D, sales and marketing positions to more effectively meet demand from customers and partners.
Based in Tel Aviv, CEO Guy Bejerano and CTO Itzik Kotler, veterans of the IDF Air Force and IDF Intelligence unit 8200, founded SafeBreach in 2014. The company has raised $19 million to date including the latest financing round and has 30 employees.
“So many companies chase the same problems, but very few actually grasp the issues that security leaders are struggling with,” said Guy Horowitz, Investment Partner of Deutsche Telekom Capital Partners. “SafeBreach is coming at security from a strategic viewpoint by providing practical and continuous security validation of enterprise security risks through a “hacker’s point-of-view”. This allows organizations to quantify cyber threats in advance and mitigate them effectively. SafeBreach is building a tool which every security team should add to their arsenal.”
Bejerano said, “We had many alternatives for funding but elected to go with strong financial backers with strategic value-add, that will help SafeBreach aggressively grow our market leadership. We see the market shifting towards the understanding that while breaches may be inevitable; the impact doesn’t have to be. Our customers are successfully reducing their attack surface and adapting their defenses while using our platform."
Published by Globes [online], Israel business news - www.globes-online.com - on July 26, 2016
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