Chinese e-commerce company Alibaba Group has announced that it is investing in Jerusalem Venture Partners to work with Israeli cyber-security startups and protect itself from hackers. The news comes as Cybertech 2015, Israel’s flagship international cyber-tech conference, kicks off in Tel Aviv.
More than 5,000 people from 50 countries are in Tel Aviv for the two-day conference and exhibition, considered one of the biggest international cyber solutions conferences in the world.
Some 20 Alibaba executives are taking part in the local conference and Jason Yu, chief risk officer at Alipay, is scheduled to speak.
The Israeli Calcalist financial newspaper reported the Alibaba investment to be in the tens of millions of dollars.
In related news, Solebit LABS, a developer of cyber-security solutions that protect networks from zero-day attacks and APTs at the delivery phase, has announced a $2 million funding round from Glilot Capital Partners.
“Solebit thwarts zero-day attacks and APTs by inspecting every file or object before allowing it into the network, eliminating every possible condition in which a stream with executable code is permitted entry,” said Boris Vaynberg, who co-founded the company with Meni Farjon and Yossi Sara, entrepreneurs with years of experience in defensive and offensive cyber-security approaches and all graduates of elite technology units in the Israel Defense Forces.
“This represents a new approach because we’re not trying to guess at the motives, methods or deduce suspicious activity: if a stream includes code, it is quarantined. By creating a ‘no code zone’ around the network, our solution prevents attacks at the delivery phase, before the need for costly remediation.”
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