Israeli cybersecurity company empow has raised $10 million in a Series B financing round from new investor Ascent Venture Partners and previous investors. Headquartered in Cambridge, Massachusetts and with its development center in Ramat Gan, the company raised $9 million last year but did not disclose the names of its investors.
empow provides the first orchestration platform that uses AI and machine learning analytics to classify threats and alerts based on intent - identifies the most actionable ones - and then uses the existing security infrastructure to respond. It is this ability that replaces conventional SIEM money pits with an ROI-positive platform.
Named a Gartner Cool Vendor company, empow is driven by its mission to help enterprises "make more of what they already have." The company was founded in 2014 by former CEO Avi Chesla and VP R&D Iko Azoulay. empow’s innovative approach employs its proprietary “security abstraction” to break down an organization’s existing security configuration into abstracted primary components called “Security Particles™.” Utilizing deep learning, empow’s platform clearly defines the security role of each particle, using one common language. This enables the platform to instantly coordinate between the previously siloed tools, and deploy a new, unique response for every security event detected. In this way, empow investigates and mitigates the most advanced attack campaigns in real time, with speed and intelligence.
Peter George, who has led multiple cybersecurity companies to great success - and partnered with Ascent on their due diligence into empow - is joining as CEO. Peter recognized the company's game-changing prospects, and the company simultaneously recognized his ability to take the company to the next level; as a result, the leadership of empow was reconfigured to accommodate Peter's new role.
Current CEO and Founder Avi Chesla, will move to CTO, enabling him to focus on empow's SIEM technology platform, while helping Peter to evangelize the company's unique approach in the SIEM market. Chesla, who holds multiple patents - including the "mind-reading" patent that decodes attacker intent, is the visionary behind the concept of a SIEM that leverages an abstracted security layer - powered by AI and NLP.
empow will use the funds to extend its leadership in next-generation SIEM and expand its global sales, marketing and finance operations in Boston - enabling it to introduce the transformative impact of the empow solution to more customers.
Chesla said, "empow's approach to next generation SIEM has been fully validated. We are gratified by the confidence of Ascent Venture Partners, and I am personally thrilled that Peter is joining as CEO. His proven executive leadership skills, strong customer focus and passion for disruptive technologies will help us to take the company to the next level - the leading SIEM provider across the entire security ecosystem. The fact that Peter chose empow after having analyzed dozens of cybersecurity companies says it all."
Published by Globes [online], Israel business news - www.globes-online.com - on April 15, 2018
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