Israeli cybersecurity co Demisto raises $43m

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The Tel Aviv-based company has developed a Security Orchestration, Automation and Response (SOAR) technology platform.

Israeli cybersecurity company Demisto today announced the closing of a $43 million Series C funding round led by Greylock Partners with the participation of previous investors Accel Partners, ClearSky Security and others. This brings the company's total funding to date to $69 million.

Demisto will leverage these funds for international market expansion, and accelerating adoption and deployment of its Security Orchestration, Automation and Response (SOAR) technology platform, and take SOAR beyond Security Operations Center (SOC) use cases.

With offices in Tel Aviv and Cupertino, California, as well as the UK and Germany, Demisto was founded in July 2015 by CEO Slavik Markovich (formerly of Intel Security, McAfee and co-founder and CTO of Sentrigo), VP marketing Rishi Bhargava (formerly of Intel Security, McAfee and Solidcore); VP products, Dan Sarel (formerly of Intel Security, McAfee, Sentrigo and Check Point); and VP engineering, Guy Rinat (formerly of Intel Security, McAfee and Sentrigo). The company has 112 employees.

Greylock Partners general partner Sarah Guo said, “Demisto is rapidly gaining momentum as the leading security operations platform. We are excited to lead Demisto’s Series C, and look forward to supporting Demisto as it builds an important security company that helps a global customer base get leverage against adversaries.”

Amidst fast-growing adoption of SOAR technologies, this latest investment underscores Demisto’s ability to let security teams automate incident response across diverse security environments. Demisto’s security orchestration and automation enables standardized, automated, and coordinated response across an organization’s security product stack. Playbooks powered by thousands of security actions make scalable, accelerated incident response a reality.

Markovich said, “Our vision has always been to become the de-facto workbench of the security analyst, providing them with a simplified console that unifies intelligence and actions response at scale. Demisto has attained significant momentum and built up market share during the last 12 months, and we are quickly building a large global company like no other in our field. We owe our success so far to our customers, for their early adoption, trust, and collaboration towards product development efforts.”

Published by Globes [online], Israel business news - - on October 10, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Cybersecurity ASAP Creative Shutterstock
Cybersecurity ASAP Creative Shutterstock
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