Israeli cybersecurity company Memcyco has announced the completion of a $37 million Series A financing round. This brings to $47 million the total amount raised by the company, which has developed solutions for protecting against fraudulent websites and account takeover scams (ATOs).
The financing round was led by NAdventures, the venture capital arm of the National Bank of Canada with the participation of E. Leon Jimenes and Pags Group, and existing investors Capri Ventures and Venture Guides.
The company said that the capital raised will be used to expand its cybersecurity platform, develop new products, and accelerate sales activity in markets, including North America and Latin America, both through direct activity and through business partners.
Memcyco has developed a security platform that identifies and thwarts phishing attacks and account takeovers at an extremely early stage, before attackers even manage to harm end users. Unlike traditional security solutions, which usually only operate after identity theft, Memcyco’s system "penetrates" an attack in real time, identifies attackers and potential victims, and allows organizations to act before damage is caused.
Sharp increase in the scale of attacks
The need for solutions of this type is becoming more acute due to the sharp increase in the number of ATO attacks, and because of the increasing use of AI tools by attackers. According to Memsico, ATO attacks jumped about 250% in 2024-2025, and the cumulative damage is expected to reach $343 billion by 2027.
Memcyco cofounder and CEO Israel Mazin said, "Enterprises have spent billions building fortress walls around their login pages, but attackers have moved the battlefield. We are shifting the paradigm from reactive takedowns to proactive, real-time disruption. Our technology infiltrates the attack timeline, identifying the victim and the bad actor instantly to prevent damage before it starts."
Memcyco was founded four years ago and currently has about 90 employees, including 60 in Israel. The company has offices in Ramat Gan, Boston, and Latin America. In 2025, the company recorded, according to its own data, threefold growth, both in annual recurring revenue (ARR) and in the number of its customers, and has already thwarted more than 3.5 million ATO attempts.
Memcyco was founded by Israel Mazin, CRO Ori Mazin, CTO Elyahu Mashiah and COO Gideon Hazam.
Israel Mazin is a serial entrepreneur with over 30 years of experience in founding and leading global software and cybersecurity companies. He was previously a cofounder of Memco Software, a pioneer in the field of corporate data security, which was floated on Nasdaq and later sold in a deal worth hundreds of millions of dollars.
Published by Globes, Israel business news - en.globes.co.il - on January 27, 2026.
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