Morphisec, a leading developer of cyber security prevention and detection tools, has announced the closing of a $7 million Series A funding round that will be used to launch the Israeli startup’s flagship product and expedite the growth of marketing and sales in North America and Europe.
The company boasts a suite of security defense tools — based on patented technology originating out of Ben-Gurion University of the Negev — that protects enterprises against targeted and zero-day attacks by turning attackers’ tactics back on themselves. This innovative security method provides enterprises the ability to detect attacks earlier than ever before, to block them, and to create fingerprint information of attacks.
“By turning attackers’ tactics back on themselves, Morphisec provides a game-changing technology in the enterprise security segment. It provides a unique offering that fulfills a major market need for protection against both known and zero-day attacks,” said Yoav Tzruya, Partner at Jerusalem Venture Partners (JVP). “The market is over-saturated with detection technologies that are less-than-perfect in their detection rates and entail significant run-time and management overhead for enterprises. Morphisec offers just the opposite. We see the company’s early customer adoptions as a testament to the strength of the Israeli cyber-security sector and the innovation that drives it.”
JVP, GE Ventures, Deutsche Telekom, Portage Advisors, and OurCrowd led the funding round.
“We come across a lot of new technologies and are always willing to ‘kick the tires’ to find out if it can live up to its hype. As part of our due diligence, our team has tested the Morphisec product and found a very stable, unobtrusive, simple and effective solution. We threw at it every exploit we had, and it detected them all, with no false positives,” said Thomas Tschersich, Head of IT Security at Deutsche Telekom. “We believe our investment will help Morphisec accelerate its coverage and footprint for desktop, server and cloud environments.”
In related news, Israeli cloud infrastructure security startup Dome9 Security has announced an $8.3 million Series B financing round. The funds will enable the company to grow its sales and marketing efforts, and expand its product portfolio for purpose-built cloud security solutions. Dome9 Security currently protects more than 250 enterprise customers.
And online farmers market Farmigo recently announced that it raised $16 million in Series B funding, to be used to accelerate the company’s growth and expand to new markets. Farmigo has raised a total of $26 million in funding since being founded in 2012.
Farmigo has a unique technology platform that connects consumers directly to local farm-fresh food that is harvested or made-to-order. This allows the company to provide the freshest food while also reducing waste and spoilage.
“Through technology, we’re able to reconnect people to their food, to their local farmers and food makers, and to their communities. Our goal is to replace the antiquated supermarket model. We’re building a better food ecosystem that’s better for all of us – for our families, our communities, our farmers and the environment,” said Farmigo Founder and CEO Benzi Ronen.
The company is headquartered in Brooklyn, New York and has its development center in Tel Aviv. Farmigo operates in New York, New Jersey, Northern California, and is launching in Seattle-Tacoma on October 14, 2015.