BE'ER SHEVA, Israel,
Oct. 6, 2015 /PRNewswire/
-- Morphisec, a leading developer of cyber security prevention
and detection tools, today announced the closing of a $7 million Series A funding round led by JVP
(Jerusalem Venture Partners), GE Ventures (NYSE: GE), Deutsche
Telekom (XETRA: DTE), Portage Advisors llc., and OurCrowd.
With hackers constantly finding creative angles to attack
corporations, the security industry needs a new, proactive
approach. Morphisec's patented suite of security defense tools
protects enterprises against targeted and zero-day attacks
utilizing the concept of polymorphism --- in other words, 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.
The company was launched in 2014 in JVP Cyber Labs in Be'er
Sheva, based on patented technology originating out of Ben-Gurion University of the Negev, and will come
out of stealth mode in Q4/15. Proceeds of the round will be used to
launch Morphisec's flagship product and expedite the growth of
marketing and sales in North
America and Europe.
"The strategic investment by GE Ventures, Deutsche Telekom and
other leading financial groups demonstrates the value of our unique
cyber security offering for a broad range of environments, from
endpoints to servers, gateways and to cloud security," said
Ronen Yehoshua, Morphisec's CEO. "We
are already seeing great traction with enterprises and global
channels, and this investment will allow us to expedite the sales
and marketing of our flagship product in the US and Europe. We look forward to sharing more
details about the solution in Q4 when we officially come out of
stealth."
"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 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."
"As millions of machines are connected to the Industrial
Internet platforms, application security against targeted attacks
is critical," said Brett May, Head
of Ventures and Business Development at GE Digital. "Morphisec
assists companies that run highly sensitive industrial equipment to
secure their assets with minimal performance penalties or
operational disruptions. We are excited to support Morphisec and
its continued product innovation."
"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."
About Morphisec:
Emerging from the national cyber security center, and some of
the sharpest cyber security minds in Israel, Morphisec offers unique, instantaneous
and deterministic detection and arrest of zero-day and known
attacks, combined with rich contextualized forensics. Morphisec is
planning to come out of stealth mode in Q4/2015. For consistent
updates on the company and product please visit:
http://www.morphisec.com/.
For more information:
Matt Trocchio
SHIFT Communications
512.792.2555
morphisec@shiftcomm.com
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SOURCE Morphisec