Israeli cybersecurity company Source Defense has completed Series A financing round from AllegisCyber and previous investor Jerusalem Venture Partners (JVP) as well as Global Brain and Connecticut Innovations.
The Rosh Ha'ayin-based company provides a prevention solution for website supply-chain attacks. The capital will be to used market the company’s website security platform, which is the only product capable of stopping the current wave of highly damaging JavaScript-based website card skimming attacks, and other similar hacks.
Source Defense has also announced the opening of two new offices: The company’s new US headquarters in Stamford, Connecticut and a second R&D center in Rosh Ha'ayin. The company intends to launch an intensive hiring campaign in both locations. Source Defense was founded by CEO Hadar Blutrich and EVP Avital Grushcovski.
“The promise of Source Defense is not only the prevention of a universal, persistent vulnerability but that we free up organizations to focus on what really matters when it comes to their websites: delivering a superior user experience,” said Blutrich, “We’re extremely excited to bring our innovative product to market, and honored to have a global team of world-class cybersecurity investors onboard.”
“Websites are the front line of the global digital economy and increasingly the focal point of attacks by bad actors. The growing complexity of these commerce platforms and the extensive use of third-party software makes them particularly vulnerable to attack and compromise,” said Pete Bodine, Managing Director, AllegisCyber. “The reason we invested in Source Defense is because they move the needle in a meaningful way to lock down these sites and ensure they operate without compromise.”
Source Defense provides a fully automated solution that controls the access and permissions of all third parties operating on a website. This ensures compliance with customer data privacy and eliminates the potential for compromised third-party tools to skim payment information or other valuable data while reducing labor-intensive management.
Published by Globes [online], Israel business news - www.globes-online.com - on September 26, 2018
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