Israeli cyber security company Hexadite Inc. today closed $8 million in a Series A funding round from Hewlett Packard Ventures, Ten Eleven Ventures, and YL Ventures, who also invested in Hexadite's seed round. The company plans to use the funds to accelerate R&D in Israel, expand its marketing and sales operations worldwide, and continue to build momentum for its solution, which fully automates cyber security incident response, Hexadite AIRS.
The company was founded by CEO Eran Barak and CTO Idan Levin.
Barak said, "Our solution can handle all the variables involved in today's cyber threats to give customers the ability to investigate, respond, and resolve an ever-increasing volume of incidents in minutes and even seconds. This round will enable us to further develop our innovative technology and bring it to more customers in additional markets to start turning the tables on today's cyber threats."
Hewlett Packard Ventures managing director Lak Ananth said, "When we saw what Hexadite accomplished in such a short amount of time, we wanted to be a part of it. The ability to automate cyber alert investigations and shut down attacks in seconds gives customers a chance to defend themselves in a way that has never been possible."
"Enterprises are desperate to close the gap between security event detection and resolution," said Mark Hatfield, co-founder and general partner, Ten Eleven Ventures. "We were very impressed with the maturity of Hexadite's solution; they are the only company we've seen that truly understands how to fully automate the end-to-end incident response lifecycle. Hexadite's ability to add intelligent automation and orchestration to resolve security events is a great leap forward that addresses a vital need for customers."
Ten Eleven Ventures co-founder Mark Hatfield will join the Hexadite board.
In 18 months with $2.5 million in seed funding, Hexadite brought to market the industry's first security orchestration and automation solution, protecting more than 500,000 devices in customers from the financial services, retail, technology, insurance, manufacturing, telecommunications, life sciences, and healthcare industries. With Hexadite, enterprises can overcome the skills, expertise, time, and resource shortages that plague their security operations centers (SOCs).
Published by Globes [online], Israel business news - www.globes-online.com - on February 10, 2016
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