Israeli cyber security company Secret Double Octopus announced today that it has closed a $6 million Series A funding round. The financing round included Jerusalem Venture Partners, Liberty Media’s Israel Venture Fund, Iris Capital, Benhamou Global Ventures and angel investor Yaniv Tal. The investment will be used to expand R&D efforts and accelerate growth in key markets, including the US and Europe.
Based in Beersheva, Secret Double Octopus was founded in 2015 by Chief Science Officer Prof. Shlomi Dolev, CTO Dr. Shimrit Tzur-David, CEO Raz Rafaeli and VP R&D Chen Tetelman. The company pioneers keyless multi-shield connectivity and authentication,
Based on Secret Sharing algorithms, originally developed to protect nuclear launch codes, Secret Double Octopus has developed the only solution on the market that applies keyless authentication and data-in-motion protection for cloud, mobile, and IoT. The company’s technology prevents cyber attackers from accessing enough critical information to be useful for attacks such as brute force, man-in-the-middle, PKI manipulation, key theft and certificate authority weaknesses.
Rafaeli said, “Many security measures, such as SMS verifications, pseudo-biometric markers, behavioral markers, one-time-passwords and tokens, employ only a single layer of protection, making them vulnerable to attack, while also creating unnecessary friction for the user. Our multi-shield approach to connectivity, specifically as it relates to authentication, provides customers with both topflight security and a seamless user experience which is critical when countering the increasing levels of sophistication today’s hackers demonstrate. We are happy that our new investors, representing key strategic partners, share our vision and look forward to expanding our presence in multiple markets.”
Published by Globes [online], Israel business news - www.globes-online.com - on January 24, 2017
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