Israeli cybersecurity company GuardiCore has raised $15 million as an extension to its Series B financing round. The latest investment was led by TPG Growth and Greenfield Partners, a TPG-Growth backed company based in Israel that focuses on investing in early growth-stage global technology and tech-enabled businesses. Existing investors include Battery Ventures, 83North, Cisco Investments and Dell Technologies. This brings the company's total funding raised to date to $48 million.
Founded by CEO Pavel Gurvich, CTO Ariel Zeitlin and VP business development Dror Sal'ee, the company has developed internal data center security and breach detection solutions. The company has offices in Tel Aviv and San Francisco.
Gurvich said, "Since our founding, we've been focused on building a security platform specifically designed for today's modern data center and clouds. We've succeeded in driving rapid customer adoption and today are deployed at scale in some of the world's largest organizations. TPG is a veteran investor with a successful history in software and technology. The addition of TPG to our already impressive list of investors is a strong endorsement that allows us to accelerate our growth in large enterprise accounts and expand our solution further into the broader global market."
GuardiCore provides a single, scalable security solution that helps its customers protect critical workloads and applications through better visibility, segmentation, breach detection and response. Its flagship product, the Centra Security Platform, uses multiple detection methods including patented dynamic deception to reduce dwell time and block lateral movements. Automatic incident analysis provides security teams with real-time Information and comprehensive intelligence about attack methods so they can quickly prioritize security response actions which can often takes days to analyze and mitigate using traditional tools and techniques.
GuardiCore customers represent large organizations across multiple industries, including financial services, healthcare, retail, communications and cloud-based service providers. GuardiCore recently announced that Santander Brasil, the largest subsidiary of Santander Group, had selected GuardiCore's Centra Security Platform to provide advanced data center security.
"GuardiCore fits perfectly within both TPG Growth's and Greenfield's mandate: the company is a leading innovator, with a differentiated approach, in a segment of the industry that will continue to see significant growth," said Tim Millikin of TPG. "Leveraging our combined expertise and network in the software and technology space, we are eager to work with Pavel and the team to accelerate the business."
"Across industries, businesses large and small continue to make security a top priority. GuardiCore offers a versatile, scalable, best-in-class solution, backed by a highly-technical and knowledgeable team of experts," said Yuda Doron, Co-Founder and Head of Greenfield Partners. "We look forward to partnering closely with them to help drive further growth."
Published by Globes [online], Israel business news - www.globes-online.com - on August 1, 2017
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