Israeli predictive cyber security start-up CyActive today announced that it has received a strategic investment from the Venture Capital Unit of Siemens (SFS VC). No details of the amount of the investment were disclosed. Jerusalem Venture Partners (JVP) also participated in the financing round.
CyActive, which forecasts and detects future cyber-attacks, delivers a radically disruptive approach to cyber security that applies bio-inspired algorithms combined with a deep understanding of the hackers' process to predict the ways in which hackers will modify malware to evade existing security measures. The company's comprehensive solution provides large enterprises, utilities and medical devices segments with protection against future malware.
The investment in CyActive is the first investment by Siemens' 'Industry of the Future Fund' in Israel.
Venture Capital Unit of Siemens CEO Ralf Schnell said, "CyActive's technology is extremely sophisticated yet lightweight, an imperative for many of our customers. We see broad potential across major industries and are particularly excited by its approach to securing industrial and utilities assets. CyActive's founders are leaders in the field and the company's unprecedented predictive cyber security technology turns the economic equation in favor of the defender."
Siemens Plant Security Services global head Rajiv Sivaraman said, "CyActive offers the opportunity to change the model of Industrial Control Systems (ICS) security from a reactive model to a proactive model. This achievement addresses the long life cycles within ICS for critical legacy devices."
CyActive was founded by CEO Liran Tancman and CTO Shlomi Boutnaru. Boutnaru said, "The investment recognizes the need for industrial and CIP technologies that tackle the toughest security challenges. We look forward to expanding CyActive's ability to protect the world's most critical assets."
JVP Cyber Labs Partner Yoav Tzruya said, "By predicting and preventing the ways in which hackers will retool malware, CyActive's predictive engine helps companies avoid financial and operational, direct and indirect damages while redefining the cyber equation by placing the defender ahead of the attacker. Moreover, CyActive shifts the cost burden back to hackers, so cybercrime does not pay off."
Published by Globes [online], Israel business news - www.globes-online.com - on September 18, 2014
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