Israeli cybersecurity co Hysolate today announced it has closed $18 million in Series B funding led by Bessemer Venture Partners and Innovation Endeavors, and including NGP Capital. The funds will help accelerate adoption of the Hysolate Platform, which fully protects endpoints from cyberattacks while boosting end-user productivity. The investment will also be used to expand Hysolate’s market presence and continue building its global customer base. The company has raised $36 million to date, including the latest financing round. Amit Karp, partner at Bessemer Ventures, and Harpinder Singh, partner at Innovation Endeavors, have joined the company’s board.
Hysolate was founded by CEO Tal Zamir, a veteran of an elite Israeli cyber unit and former R&D leader in Wanova (acquired by VMware), and Dan Dinnar, former CEO of HexaTier (acquired by Huawei) and executive sales officer at CyberArk Software, from its founding sales team and through its successful IPO in 2014. The company has offices in Tel Aviv and New York with 25 of its 35 employees in Israel.
Zamir said, “End-user devices are deluged by cyberattacks. To protect them, most businesses either lock down devices, making it extremely hard for people to work efficiently, or prioritize productivity and take chances with security. Either choice is untenable. Hysolate frees businesses from this no-win situation by transforming devices into the world’s first software-defined endpoints, making them the secure and productive environments they were meant to be."
“Hysolate reimagined how endpoints work and developed a platform that completely resolves the urgent productivity vs. security problem,” said David Cowan, partner at Bessemer Venture Partners. “Just as the data center is now virtualized by default with software-defined computing, networking and storage, Hysolate makes endpoints software-defined as well. The implications of this transformation can’t be overstated: businesses can finally deliver a totally unrestricted, easily managed and fully secure user experience. We believe this is a game-changer. ” “Hysolate has the power to revolutionize how enterprises operate, making user productivity as critical - and attainable - as cybersecurity,” said Harpinder Singh, partner, Innovation Endeavors. “The Hysolate team is uniquely qualified to deliver on this promise and has already made great strides in doing so, with its platform being used by major global brands. We’re excited to continue working with Hysolate as they grow their business.”
Published by Globes [online], Israel business news - www.globes-online.com - on October 3, 2018
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