Israeli cyber security company SolebitLABS today announced a $2 million funding round from Glilot Capital Partners. The company, based in Herzliya Pituach, develops cyber-security solutions that protect networks from zero-day attacks and advanced persistent threats (APTs) at the delivery phase,
Solebit LABS was founded in 2014 by Boris Vaynberg, Meni Farjon, and Yossi Sara, entrepreneurs with years of experience in defensive and offensive cyber-security approaches and all graduates of elite technology units in the Israel Defense Forces. The company has 10 employees. The funding round will enable Solebit to accelerate its product development and ramp up its sales and marketing efforts.
The company's solutions protect large enterprises against APTs, which continue to grow at an exponential pace. According to a recent study by Information Security Media Group, at least 38% of enterprises lack sufficient technology solutions to detect or mitigate APTs.
Solebit CEO Boris Vaynberg says that the majority of attacks use unauthorized code in application-level vectors to gain the first intrusion to a network. The code is hiding or encrypted deep in the data streams of common applications such as Microsoft Office and Adobe Acrobat, where no one is looking for it. The code is then executed, launching the attack by exploiting vulnerabilities inside the applications, he said.
Vaynberg said, "Solebit thwarts zero-day attacks and APTs by inspecting every file or object before allowing it into the network, eliminating every possible condition in which a stream with executable code is permitted entry. This represents a new approach because we're not trying to guess at the motives, methods or deduce suspicious activity: if a stream includes code, it is quarantined. By creating a 'no code zone' around the network, our solution prevents attacks at the delivery phase, before the need for costly remediation."
Glilot Capital partner Kobi Samboursky said that the company's innovative approach to dealing with APTs helped cement the fund's decision to invest. "Glilot is the first VC fund in Israel that is focused on cyber-security companies. We evaluate dozens of companies each year, and we were deeply impressed by the expertise of Solebit's founders and the unique approach they are taking to blocking APTs."
Samboursky, who will join the company's board of directors, added: "We believe that the company's technology, which prevents attacks and doesn't just report them, will find wide acceptance in the market."
Solebit's solution does not require the deployment of agents in the organization, nor does it require cyber-experts to implement the system. Administrators can define areas and assets in the network that are able to send or receive code, Vaynberg added.
Published by Globes [online], Israel business news - www.globes-online.com - on March 23, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015