Israeli cybersecurity startup Zero Networks, which provides zero trust identity and network security solutions, has announced the completion of a $20 million Series B financing round led by US Venture Partners (USVP). Also participating were strategic investor former CrowdStrike CTO Dmitri Alperovitch and existing investors Venrock, CyberArk, F2 Venture Capital, and Pico Venture Partners. This brings to $45 million the total amount raised by Zero Networks.
The funds will be used to hire development, marketing, and sales staff to support Zero Networks' rapid growth following a five-fold increase in revenue..
Zero Networks was founded in 2019 by CEO Benny Lakunishok and CTO Amir Frankel. The company has developed a platform to prevent attackers from moving laterally within an organizational network to extract data and launch ransomware attacks. Zero Networks also allows organizations to securely connect remote employees and third parties to their network with zero trust principles and maximum network performance.
Zero Networks has a diverse customer base in the US, Europe, and the Middle East, including global commercial and investment banks, major US retailers, large manufacturing corporations, a global container shipping company, hospitals, law offices, construction, telecom, and public sector institutions.
Lakunishok said, "We have significantly exceeded our own growth expectations, and are thrilled to have received this investment from USVP that will allow us to scale our team earlier. It is a testament to our team’s hard work and exceptional commitment to our customers and partners. We are honored to have such a distinguished list of security leaders join our journey."
Published by Globes, Israel business news - en.globes.co.il - on December 13, 2023.
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