Israeli cyber security startup SECDO has closed a Series A financing round, bringing total investment to $10 million. The investment was led by RDC, a subsidiary of Elron Electronic Industries Ltd. (TASE: ELRN) and Rafael Advanced Defense Systems Ltd., Check Point Software Technologies Ltd. (Nasdaq: CHKP) cofounder and chairman Marius Nacht, and the founders of Anobit, acquired by Apple.
Founded in 2014 by CEO Shai Morag and CTO Gil Barak, both graduates of the IDF 8200 intelligence unit, SECDO has developed a platform to provide Next-Generation Incident Response solutions on cyber attacks. The funding will be used to expand US sales operations, customer support, and its R&D center.
SECDO is transforming the way global enterprises handle incident response, enabling them to investigate and remediate complex threats in minutes. The SECDO platform combines continuous endpoint data collection, automated forensic investigation, and a powerful set of tools for remediating threats immediately. The platform provides comprehensive insight into endpoint activity and the ability to instantly investigate any lead from any source. For global 2000 companies in industries from finance and healthcare, to telecom and critical infrastructure, it has simplified and streamlined incident response while enabling them to respond to every alert in record time.
Nacht said, "Incident Response technology is constantly evolving. Enterprises realize now that effective incident response requires a combination of endpoint visibility, forensic analysis and real-time response tools. Secdo is able to provide it in a simple and intuitive way and from a single pane of glass".
Elron VP cyber investments Zohar Rosenberg said, "SECDO is re-defining incident response. While existing solutions are still focused on managing playbooks and processes, SECDO is the only platform that automates deep forensic collection, investigation and remediation that replicates military-grade incident response. With SECDO, security teams are finally able to handle all incoming alerts in a fraction of the time."
Morag said, "After major investments in solutions that try to prevent or detect threats, the industry’s focus is shifting to incident response. Security teams are overwhelmed with alerts and are unable to respond effectively due to limited resources and the complexity of forensic collection and analysis. With SECDO, security teams can instantly investigate any lead and take immediate action to isolate and remediate the threat. With this latest round of investment, we will continue to develop our patent-pending technology while expanding our sales and support operations in the US."
Published by Globes [online], Israel business news - www.globes-online.com - on December 6, 2016
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