Israeli cybersecurity co Silverfort raises $30m

Silverfort founders Photo: PR

The company has developed an agentless, proxyless authentication platform.

Israeli cybersecurity company Silverfort has raised $30 million in a series B financing round led by Aspect Ventures, with participation of Citi Ventures, Maor Investments, and the company’s early investors TLV Partners, StageOne Ventures and Singtel Innov8. Mark Kraynak from Aspect Ventures will be joining Silverfort’s board of directors. This funding round brings the total investments in the company to $41.5 million.

The new funding will allow Silverfort, which has developed an agentless, proxyless authentication platform, to speed up growth and meet growing demand for secure authentication and access solutions, which is boosted by the global shift to remote work.

With offices in Tel Aviv and Boston, Silverfort was founded by CEO Hed Kovetz, Yaron Kassner and Matan Fattal, cybersecurity and cryptography experts who previously served in the Israeli 8200 elite cyber unit.

Kovetz said, "The increased enterprise adoption of cloud, IoT, BYOD and remote work is creating major challenges for implementing secure authentication and access, and calls for a more unified approach. We are excited to continue on our mission to help more companies leverage identity as their new perimeter, and effectively prevent emerging cyber threats."

Published by Globes, Israel business news - en.globes.co.il - on August 4, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Silverfort founders Photo: PR
Silverfort founders Photo: PR
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