Vector Capital invests $50m in Israeli cybersecurity co KELA

Cyber surveillance Photo: ASAP Shutterstock

Tel Aviv based KELA provides advanced cyber intelligence software and solutions to enterprises and governmental agencies around the world.

Israel-based provider of advanced cyber intelligence software and solutions KELA Group, today announced a $50 million equity investment from San Francisco-based Vector Capital. Vector’s minority investment is the first institutional funding received by KELA since its establishment in 2009.

The Tel Aviv based company was founded by CEO Nir Barak, Yigal Naveh and Eran Shtauber, Israeli intelligence veterans from Unit 8200 and its associated R&D units, KELA provides advanced cyber intelligence software and solutions to enterprises and governmental agencies around the world. Its security platform, RaDark, leverages advanced algorithms, data science, and elite Israeli intelligence expertise to provide extremely targeted and automated darknet monitoring and cybersecurity solutions that protect large enterprises and governments around the world. The automated platform provides real-time actionable intelligence about threats specifically targeting the client’s organization, such as leaked user credentials or IT infrastructure vulnerabilities, allowing organizations to thwart attacks before they take place.

Barak said, “We are proud of the technology, solutions, and especially the talented team we’ve built over the past 9 years. Our targeted intelligence technology creates a rapid and measurable improvement of our customer’s IT security - leading to, in some cases, reductions of over 80% in fraud-related revenue losses driven by our platform. We look forward to working with Vector’s team and to helping protect more clients around the world from cyber threats with our unique capabilities.”

KELA’s solutions are utilized by the world’s leading financial, retail, energy, manufacturing, telecommunications, automotive, consumer, and internet brands, as well as governmental agencies, across the U.S., Canada, Europe, Asia, and the Middle East.

Vector Capital managing director Matt Blodgett said, “We see tremendous potential for enterprise and government security and fraud prevention teams to utilize KELA’s unique software and intelligence expertise to better identify and protect themselves from cyber threats, and look forward to introducing the company’s specialized products to customers and partners across North America.”

Published by Globes [online], Israel business news - www.globes-online.com - on May 16, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Cyber surveillance Photo: ASAP Shutterstock
Cyber surveillance Photo: ASAP Shutterstock
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