Walden Israel Venture Capital announced today its Series A investment of $2 million in Safend, an innovative security company developing endpoint security solutions. Walden Israel invested in Safend as a pre-seed investment and is the exclusive, lead investor in the company.
Safend develops solutions that centrally shield all desktops, laptops and mobile devices in the organization by protecting their wired and wireless communication ports and connections to external devices and networks, such as disks on key, PDAs, smart phones, modems and wireless modems.
Safend CEO Gil Sever emphasized the importance of covering ‘blind spots’ in overall enterprise network security that may be open to infiltration. “Enterprise computers and networks are currently typified by the proliferation of USB ports. Extensive ranges of devices of different types and functions--from storage devices, printers, digital cameras, PDAs and smart phones to WiFi, Bluetooth and IrDA adaptors--can all be simply connected via USB ports. While firewalls may adequately secure the ‘door’ to the enterprise’s computer security, there are many ‘windows’ left open to infiltration. Safend’s products complement existing computer security options and cover current blind spots in overall enterprise network security,” added Sever.
Walden Israel general partner and chairperson of the board at Safend, Noga Kap said noted that she was “very impressed by Safend’s seasoned management team as well as the unique solution Safend provides to comprehensive enterprise network security.” Kap expects Safend to raise additional capital during the current round.
Safend was founded by CEO Sever, former COO of ECtel (NASDAQ:ECTX), together with CTO Zvi Gutterman, and VP product management Orli Gan. Safend's management team includes top security experts with experience in the security and communication fields from Check Point, Cisco and ECtel.
Founded in 1993, Walden Israel manages three funds totaling $185 million and focuses on investments in areas of communications and information technology. Walden Israel is affiliated with the Walden International and Walden VC Groups, which collectively manage over $2.5 billion and have established presence in the US and over ten countries in Asia and the Pacific Rim.
Published by Globes [online] - www.globes.co.il - on Monday, October 11, 2004