Israeli cyber security company Armeron has secured $2 million in financing from Glilot Capital Partners, a venture capital fund specializing in Enterprise Software.
Armeron's isolation platform is a radical departure from today's filtering-based approach to web application protection such as Web Application Firewalls. These first generation approaches rely on a mix of signatures and complex rules, which administrators set up and retune every time the application changes. In contrast, Armeron's isolation technology disregards any manipulation attempts on the request sent to the application, which renders all known or unknown application attacks irrelevant.
Armeron was founded by Tsion Gonen, Ron Kuper and Dan Pasternak. Prior to founding Armeron, Gonen served in leading roles at global information security companies, most recently as the chief strategy officer for SafeNet Inc, the global leader in data protection. With headquarters in Maryland, USA and a development center in Israel, Armeron currently employs a team of 13, mostly in Israel.
Gonen said, "Fifteen years after the introduction of WAF, the core technology remains the same. In today's dynamic web application reality, WAF is no longer a viable solution. We decided to do something about it, not by trying to filter malicious HTTP requests, but by developing technology which makes them irrelevant."
According to Verizon Data Breach research, more than 50% of total vulnerabilities discovered in 2015 were application vulnerabilities. Highly publicized breaches such as Ashley Madison have demonstrated the devastating impact of a weak application security program.
"First generation WAF technology was once a good idea, but now it's time for a real revolution in the space," said Kobi Samboursky, Co-Founder & Managing Partner at Glilot Capital."The world needs a better way to protect applications. WAFs simply do not cut it anymore. Armeron's isolation technology provides effortless, comprehensive web security that will revolutionize the Web Application Security market."
The company has been testing early versions of its products with select design partners and plans to launch its beta program later this year.
"It is clear that the market needs a different approach," said Shuky Peleg, CISO at First International Bank of Israel. "With the dynamic nature of application infrastructure and the sophistication of attacks, existing technologies pose a real operational and security challenge. Armeron's approach is well positioned to align application security with today's application needs."
Published by Globes [online], Israel business news - www.globes-online.com - on June 14, 2016
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