VoIP security co VibeSec raises $4m

VibeSec said that proceeds from the financing round will be used to expand its marketing and sales network, and develop new applications.

VoIP systems security developer VibeSec has closed a $4 million financing round. The financing round was reported by investor ProSeed Venture Capital Fund (TASE:PRSD) in a notification to the Tel Aviv Stock Exchange.

ProSeed has itself invested $600,000 in the latest financing round giving it a 10.42% stake in the start up. ProSeed said that the financing round included a new investor and some of the existing shareholders.

VibeSec said that proceeds from the financing round will be used to expand its marketing and sales network, and develop new applications.

VibeSec is developing a suite of unified VoIP security, integrity, and fraud prevention solutions for the enterprise market.

VibeSec has in the past received a $400,000 grant from the Office of the Chief Scientist and previous investors also include Vertex Venture Capital.

Based in Haifa, the company was founded in 2009 by CEO Shimon Gruper and VP business development Zeev Pritzker.

Published by Globes [online], Israel business news - www.globes-online.com - on March 28, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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