US private equity growth firm Stage Fund has announced the acquisition of Israeli cybersecurity startup Cymmetria. With offices in Tel Aviv and Denver, Cymmetria has developed a range of products using deception technology to defeat cyberattacks and provide defenders with the upper hand. No financial details about the deal were disclosed although according to Start Up Central, Cymmetria has raised $10.6 million since it was founded in 2014 by Gadi Evron, Dean Sysman, Ran Harel and Imri Goldberg.
Evron said, "We are thrilled with the opportunity to work with Stage Fund. They have already made a positive impact, and as a team, we are now poised for the long haul. Cyber deception is a growing market and we're well-positioned to make our mark."
Cymmetria's deception products provide organizations with the ability to hunt attackers, detect lateral movement inside the perimeter, automate incident response, and mitigate attacks. The company also offers deception as a service, enabling organizations to customize deception technologies for their business environment..
Stage Fund has appointed its CEO Daniel Frydenlund as Cymmetria's chairman. CEO of Stage Fund, has been appointed as Chairman. He said, "This company has enormous potential to change the game in cybersecurity by giving defenders the upper hand. Cymmetria's technology is the best in the market. With the combination of Stage Fund's expertise in growth strategy and this impressive tech, Cymmetria will quickly become the leader in Cyber Deception."
Stage Fund says it will work with the Cymmetria team to bolster their Tel Aviv R&D operations while expanding sales and marketing activities in Denver.
Published by Globes, Israel business news - en.globes.co.il - on September 5, 2019
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