Cyber security co Cronus raises $2.2m

Eitan Ben Eliyahu

Former Israel Air Force chief Eitan Ben Eliyahu has been named chairman of the Haifa company, which can mimic hackers.

Former Israeli Air Force chief Eitan Ben Eliyahu has been named chairman of the Cronus board. The Israeli cyber security startup said Sunday it had raised $2.2 million from JANVEST Capital Partners LLC and other investors, in addition to the funding it had already received from the Office of the Chief Scientist as part of a program to promote investment in cyber startups.

The Haifa-based firm was founded in 2014 by CEO Doron Sivan and Matan Azugi, previously the CEO and CTO of Madsec Security, respectively. Ben Eliyahu serves as a representative of the European investors in the company, while JANVEST's managing director and venture partner Sinai Bareket, the former CEO of Intel ‘s sales and marketing division in Israel, represents the Janvest fund on the board.

Cronus has developed the CyBot - a virtual hacker which can mimic the common patterns of a normal hacker, allowing companies to simulate penetration scenarios. The startup’s algorithm automatically identifies potential vulnerabilities and follows up by testing the soft spots, shining a spotlight for the IT department on how to prevent a security breach.

The startup, with 12 employees to its name, explained that the uniqueness of their solution was the wide array of devices which it can protect aside from personal computers and servers - but also, network-connected controllers, cameras, and even time stamp machines.

Sivan said “Cybot provides a solution for any large organization because it is decentralized and builds global threat scenarios. For the first time ever, the management of a company has a tool that maps out all the potential attacks in real time, not just a standard threat assessment. That level of mapping allows for better preparation technically and financially and provides Business Intelligence Security for a firm.”

Ben Eliyahu added “we are talking about a technology with a tremendous potential for growth in global markets a first-of-its-kind software solution that can scan thousands of system components and pieces of equipment and identify thousands of scenarios in real time. For those reasons, it is an especially-good fit for large, global companies.”

Published by Globes [online], Israel business news - www.globes-online.com - on August 9, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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Eitan Ben Eliyahu
Eitan Ben Eliyahu
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