Israeli cyber security startup Sixgill has closed a $5 million series A financing round led by technology holding company Elron Electronic Industries Ltd. (TASE: ELRN). The company also announced its official launch today.
Based in Yokneam, Sixgill is a cyber intelligence SaaS startup that analyzes the Dark Web. The new funds will be utilized to increase Sixgill’s ability to detect and defuse cyber-attacks and sensitive data leaks originating from the Dark Web before they occur, and to provide clients with this information through real-time alerts.
Sixgill was founded in 2014 by CEO Avi Kasztan and CTO Elad Lavi.
The Dark Web has become an encrypted and anonymous hub for nefarious activity. It is the source of many cyber-attacks and hacks, and facilitates the exchange of illicit information and collaboration on criminal and terrorist plans. Packed with difficult to find forums and pages, the Dark Web can be seen as a social network with different pieces of communications and data scattered across it. Due to its disparate nature, accessing information regarding an upcoming hack attack is very difficult.
Sixgill solves this problem by using proprietary algorithms and technology to connect the Dark Web’s dots, and provide actionable information enabling organizations to prevent attacks against them and their employees.
With a staff comprised of former officials from Israel’s elite intelligence units, Sixgill offers SaaS solutions to its customers through the cloud as well as through an on-site solution. Sixgill’s solutions are used by leading global financial institutions, telecom companies, governments and intelligence organizations. The company also provides solutions and services to other cyber security companies in different sectors.
Sixgill is a graduate of the Citi Accelerator in Tel Aviv, and is working closely with Citi mentors to adapt the product capabilities to the needs of large global enterprises. Sixgill’s initial funding was provided by Terra Venture Partners which also participated in the funding round led by Elron.
Kasztan said, “Sixgill is the most innovative Dark Web intelligence platform and we’re leading the way in the first steps of cyber security, when the damage can still be avoided. We’ve created a team of top notch professionals from Israel’s elite intelligence units and companies with disruptive technologies, and the results speak for themselves. The funding will allow us to keep mastering and crawling the Dark Web while increasing our market share globally.”
Published by Globes [online], Israel business news - www.globes-online.com - on June 15, 2016
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