Israeli cybersecurity co enSilo raises $23m

Roy Katmor

enSilo's information protection platform safeguards end user stations and stops malicious attacks in real time.

Israel cybersecurity company enSilo today announced the completion of a $23 million financing round led by Rembrandt Venture Partners, and with the participation of OG Tech Ventures and Viola, which also took part in enSilo's first financing round. enSilo raised $32 million in its first financing round in 2016-2017.

"enSilo's information protection platform safeguards end user stations and stops malicious attacks in real time before they occur and while they are taking place, while reducing the time it takes to detect an event and hedging the response costs in the event of an attack. This is achieved through full orchestration of prevention, automatic detection, halting, and taking automatic counter measures against advanced malware and ransomware. The platform can be applied on the cloud or within an organization, and it supports a large number of users," the company's announcement states.

enSilo says that the purpose of the financing round is to "continue extending the platform's proven prevention, detection, thwarting, and response capabilities, in addition to expansion of the sales channels and strategic marketing initiatives and increasing of the pace of hiring and growth in the US, Israel, and other locations, mainly the expansion of the expert team of software engineers implementing innovative ideas in the company's technology and solutions."

Together with the financing round, the company announced "annual growth of over 250% in revenue, expansion of its strategic partners, including new territories in Central and South America and in Asia."

enSilo has 86 employees, including 53 in Israel. The company plans to hire 10-20 more research and development personnel in the coming year. enSilo was founded by CEO Roy Katmor, CTO Udi Yavo, VP research Tomer Bitton, and VP engineering Ido Kelson.

The company was advised in its financing round by the Meitar, Liquornik, Geva, Leshem, Tal & Co. law firm.

Published by Globes, Israel business news - en.globes.co.il - on July 11, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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