RA'ANANA, Israel, June 4, 2018 /PRNewswire/ --
Cyberbit Ltd., a subsidiary of Elbit
Systems Ltd., and a world leading provider of cyber range training
and simulation platforms, and provider of IT/OT threat detection
and security orchestration, today announced a US $30 million investment from Claridge Israel, to
accelerate growth, and accommodate the rising demand for its
Cyberbit Range product and its entire security portfolio. With this
funding, Cyberbit will expand sales and marketing, primarily in
North America, boost product
development, and enhance customer and partner support.
Claridge Israel is a partnership
between CDPQ, one of the largest institutional investors in
North America with net assets of
over US$230 billion, and Claridge
Inc., the Stephen Bronfman Family Office. Oded Tal, Managing Partner of Claridge Israel,
will join Cyberbit's board of directors.
Cyberbit has pioneered the approach of
using hyper-realistic simulation to train and assess cybersecurity
experts. This approach is now widely adopted by the industry as a
means to cope with the ever growing global cybersecurity skill
shortage. This shortage is predicted to exceed 3.5 million job
openings by 2021 and is amplified by increased workload and
complex, time-sensitive threats. Over the past year alone Cyberbit
launched more than 30 cyber range classes and opened dozens of
cyber ranges with Managed Security Service Providers (MSSP),
universities and enterprises worldwide.
In addition to the cyber range,
Cyberbit offers Security Orchestration, Automation and Response
(SOAR), Industrial Control Systems (ICS) security, and Endpoint
Detection and Response (EDR). These products are offered either as
standalone products, or jointly, providing one of the only
integrated platforms in the world for detection, incident response,
and simulation across the converging IT/OT/IoT attack surface.
Cyberbit's portfolio helps security operations do more, with less,
by reducing overwhelming alert volumes, accelerating incident
response, consolidating security technologies and seamlessly
managing multi-vector IT to OT attacks.
Bezhalel (Butzi) Machlis, President
and CEO of Elbit Systems, commented, "Elbit
Systems sees the cyber security field as a growth engine. We are
encouraged by the technological and business achievements of
Cyberbit in recent years. I am confident that the partnership with
Claridge Israel will lead Cyberbit to even greater
achievements."
"Cyberbit's growth in just three years
has been remarkable," said Rami
Hadar, Managing Director at Claridge
Israel. "This growth is driven by a unique product portfolio
that addresses several of the most pressing industry problems, a
solid go-to-market strategy and a highly capable team that is
executing successfully and creating a leadership position in
several markets. Claridge Israel is proud to partner with a
reputable, leading organization such as Elbit Systems, and we look
forward to working alongside Cyberbit's management team to support
the company's next growth phase."
"We are happy to welcome Claridge as an
investor and a strategic partner in this exciting journey," said
Adi Dar, CEO of Cyberbit. "We
are witnessing an increasing demand for our offerings and this
substantial backing will allow us to scale our operation, maintain
our position as an industry leader and accelerate our growth. First
and foremost, we will continue to focus on providing our customers
with the best possible products and support."
To learn more about Cyberbit's Cyber
Range platform, visit the Cyberbit Range page or
email sales@cyberbit.com.
Cyberbit will be exhibiting at the
Infosecurity UK conference, Booth E100, between June 5th and June 7th, 2018. To schedule
a meeting email info@cyberbit.com
For additional information read the CEO
Blog
About Elbit
Systems
Elbit Systems Ltd. is an international
high technology company engaged in a wide range of defense,
homeland security and commercial programs throughout the world. The
Company, which includes Elbit Systems and its subsidiaries,
operates in the areas of aerospace, land and naval systems,
command, control, communications, computers, intelligence
surveillance and reconnaissance ("C4ISR"), unmanned aircraft
systems, advanced electro-optics, electro-optic space systems, EW
suites, signal intelligence systems, data links and communications
systems, radios and cyber-based systems. The Company also
focuses on the upgrading of existing platforms, developing new
technologies for defense, homeland security and commercial
applications and providing a range of support services, including
training and simulation systems.
About Cyberbit
Cyberbit provides a consolidated
detection and response platform that protects an organization's
entire attack surface across IT, OT and IoT networks. Cyberbit
products have been forged in the toughest environments on the globe
and include: endpoint detection and response powered by behavioral
analysis, security automation, orchestration and response (SOAR),
ICS/SCADA security (OT security), and the world's leading cyber
range for simulated cyber training. Since founded in mid-2015
Cyberbit's products were rapidly adopted by enterprises,
governments, academic institutions and MSSPs around the world.
Cyberbit is a subsidiary of Elbit Systems Ltd. (NASDAQ: ESLT and
TASE: ESLT) and has offices in Israel, the US, Europe, and Asia. Follow Cyberbit on Facebook, LinkedIn
and Twitter (@CYBERBITHQ).
About Claridge Israel
Claridge Israel is an investment firm
focused on growth investments in innovative companies with a
technological advantage. The firm was initiated through a
partnership between Claridge Inc., the Stephen R. Bronfman Family
Office, one of Canada's most
reputable family offices and private equity investors, and la
Caisse de dépôt et placement du Québec (CDPQ), a global
institutional private equity, infrastructure and real estate
investor, with net assets of over US$230
Billion (as at December 31st ,
2017).
Cyberbit Contacts:
Sharon Rosenman, VP Marketing,
Cyberbit
sharon.rosenman@cyberbit.com
Dana Tal-Noyman
Manager Corporate Communications & Digital, Elbit Systems
Cell: 972-54-9998809
dana.noyman@elbitsystems.com
SOURCE Cyberbit Ltd.