Israeli cybersecurity company Sepio Systems has raised a $6.5 million Series A financing round led by Hanaco Ventures and Merlin Ventures, with the participation of existing investors Energias de Portugal (EDP), Mindset Ventures and Pico Partners. Since its establishment Sepio Systems has raised $11 million.
Sepio has also announced the appointment of two new executives to its management team: Gili Sahar joins as CFO and Chen Ben Eliyahu as VP Business Development.
Sepio offers an end-to-end solution that detects and mitigates hardware-based attacks, rogue peripherals, invisible network devices, and manipulated firmware. The company’s Sepio Prime, which is a software-only solution, has been successfully deployed in over 25 banks, insurance, and telecom companies in the US, Singapore, Brazil, South Africa and Israel. Sepio cofounder and CEO Yossi Appelboum said, "The increasing number of hardware based cyber-attacks is a major concern to all enterprises. While all other security solutions are focused on software threats, they are incapable of stopping threats coming from hardware."
"Sepio defines and solves a problem most enterprises know they have but cannot quantify or resolve," explains Alon Lifshitz, Founding Partner at Hanaco Ventures. "Besides creating the Rogue Device Mitigation category, it's rare as an investor to back founders that have worked as a team for over twenty years now building their third startup together."
As part of its expansion, Sepio is opening a new office in Mclean, Virginia for supporting US federal customers.
Published by Globes, Israel business news - en.globes.co.il - on November 7, 2019
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