Israeli malware detection startup TopSpin Security Inc. has raised $7 million in Series A financing. The investors are accomplished private businessmen responsible for some of Israel’s most successful cyber security companies. The funding will help the company accelerate its sales efforts in key markets.
The investors include Shlomo Kramer, Mickey Boodaei, Zohar Zisapel, and Rakesh Loonkar, who have founded and seeded cyber security successes including Check Point, Imperva, Trusteer, Palo Alto Networks, Aorato, Adallom, and Lacoon. Founded in 2013, the company is based in Herzliya.
TopSpin Security designs and markets DECOYnet, an advanced active cyber defense system that engages attackers once they have bypassed perimeter-based security solutions. Already used by organizations across the US, DECOYnet offers a unique combination of detection, deception and extensive traffic analysis and visibility, allowing organizations to receive an accurate view of how data flows in, out and within their networks; assess risks; and set preemptive measures for detecting and dealing with cyber threats.
TopSpin CEO Doron Kolton said, "We’ve spent the last three years developing an enterprise-grade solution, and intend to use this investment to scale our platform, expand our team and grow awareness in the world of cyber security."
TopSpin chairman and founding investor Mickey Boodaei said, “The deception and breach detection market is moving fast and receiving much of attention. As a seasoned team of security entrepreneurs and investors, we were truly impressed by TopSpin’s unique product execution, which delivers sophisticated technologies in an easy to deploy and use model.”
In spite of near exponential growth in cyber attacks over past years, cyber defenses are still mainly passive and reactive. TopSpin's DECOYnet, on the other hand, provides proactive cyber defense. The solution automatically deploys relevant decoys, mini-traps and fake credentials to engage and mislead the attacker, while analyzing network communications channels between the attacker and external command and control servers, giving IT time to understand and neutralize the threat.
Published by Globes [online], Israel business news - www.globes-online.com - on January 4, 2016
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