Israeli SaaS cybersecurity co Panorays raises $5m

Cyber surveillance Photo: ASAP Shutterstock

The company also today launched its flagship automated platform to increase the security of all organizations in the supply chain.

Israel SaaS startup Panorays has closed an early stage financing round of $5 million, led by Aleph venture capital fund. Cybersecurity veteran Amichai Shulman, cofounder and former CTO of Imperva, Elevator Fund, Moshe Lichtman and Michael Dolinsky also participated in the round.

The company also today launched its flagship automated platform to increase the security of all organizations in the supply chain, enabling companies to easily view, manage, and engage with third parties to reduce their cyber risk.

Panorays SaaS platform provides 24/7 monitoring and alerting upon attack surface change and does not require installation on customer or third-party systems. With Panorays, companies can shorten their third-party security evaluation process by as much as 93%, while gaining continuous visibility and ensuring compliance to regulations such as GDPR and NY DFS. Panorays targets organizations in financial services, healthcare, automotive, technology, and retail. Through its customers, Panorays has currently evaluated more than 10,000 third-party companies.

The company was founded by CEO Matan Or-El, COO Meir Antar and VP R&D Demi Ben-Ari. The executive team has served in security and leadership positions at companies including Imperva, AVG, ironSource, Windward, WalkMe and enSilo.

Or-El said, “We’re seeing increasing demand for our solution, which solves third party security issues. The Panorays platform delivers a 360-degree view of cyber gaps. It does this by automating thousands of activities that mimic those that hackers would apply, combined with internal policy enforcement. Based on the findings and leveraging big data analytics, the platform provides context-based ratings and actionable intelligence."

Published by Globes [online], Israel business news - www.globes-online.com - on June 5, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Cyber surveillance Photo: ASAP Shutterstock
Cyber surveillance Photo: ASAP Shutterstock
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