Israeli cybersecurity co Siemplify raises $14m

Siemplify founders Photo: PR

The funds will be used to further strengthen Siemplify’s position as a security orchestration, automation and response (SOAR) market leader.

Israeli cybersecurity company Siemplify today announced that it has raised $14 million in Series B financing round led by Jump Capital, and joined by existing investors G20 Ventures and 83North. Jump Capital Partner Saurabh Sharma will join the company’s board and this brings Siemplify’s total amount raised to $28 million.

The funds will be used to further strengthen Siemplify’s position as a security orchestration, automation and response (SOAR) market leader through increased investments in sales and marketing as well as continued product innovation and customer success.

The company was founded by CEO Amos Stern, VP R&D Alon Cohen, and chief research officer Garry Fatakhov. With offices in New York and San Francisco, the company's R&D center remains in Israel

Stern said, “Siemplify goes beyond orchestration and automation to provide a complete SOC platform that delivers insights to SOC managers and faster answers to security analysts. This funding further validates our approach and will allow us to help even more customers around the globe to streamline and simplify their security operations.”

Sharma said, “Siemplify truly lives up to its name, simplifying security operations by uniting security teams, tools and processes, and providing the clarity needed to act decisively and quickly."

Capitalizing on the significant momentum in the SOAR space, Siemplify is on track for exponential growth in 2018, with a 532% year-over-year increase in customer bookings and 350% growth in its customer base in the first half of 2018. Recent wins include a top-ranked global MSSP, a multi-billion-dollar consumer packaged goods company and a Forbes global 500 telecommunications company.

Published by Globes [online], Israel business news - www.globes-online.com - on July 24, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Siemplify founders Photo: PR
Siemplify founders Photo: PR
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