Start-up Kidaro (Israel) Ltd. today announced the closing of its first financing round at $4 million. Genesis Partners led the round, together with US fund Storm Ventures. This is Storm Ventures first investment in an Israeli company. Founded in 2004, Kidaro develops enterprise information security systems. It provides a broad platform for protecting an enterprise’s end-users.
Kidaro CEO Ran Kochavi declined to disclose details about the company’s technology. He said today, “Enterprises in Israel and worldwide are facing a wave of attacks and leaks of information, while their networks lack suitable tools for protecting their information. The blurring of enterprises’ boundaries and the openness required of information systems, combined with the rise in types of security threats, have turned end-users into the soft underbelly of enterprises. Kidaro’s platform is a qualitative breakthrough in defensive capabilities, central control, and managing an enterprise’s information security risks.”
Genesis Partners managing general partner Eddy Shalev, who joins Kidaro’s board following the financing round, said, “We’ve received excellent market responses about Kidaro’s solution. Many enterprises apparently consider Kidaro’s platform as a solution to their IT and end-user information security needs. We believe that the combination of the unique technology and a professional enterprise security information and systems building team guarantees a successful investment.”
Storm Venture general partner Ryan Floyd said, “We were impressed by Kidaro’s unique approach to solving security problems, which are becoming more complex every day, and by the performance capabilities and experience of complex technical tasks. We’re convinced that Kidaro has the right platform to become a market leader in the market for next-general security solutions.”
Published by Globes [online], Israel business news - www.globes.co.il - on September 12, 2005
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