Hexadite Nabs $8M as Cybersecurity Urgency Grows
This week brought extra reminders that cybersecurity continues to be prime of mind for leaders from the White home to boardrooms everywhere.
President Barack Obama grabbed headlines with a $ 19 billion initiative—$ 5 billion larger than the federal executive’s present cybersecurity spending—to struggle cyber threats, overhaul federal laptop methods, and increase cybersecurity coaching. The funding, part of Obama’s higher $ 4 trillion annual price range concept, might combat to move the Republican-managed Congress, however it indicators the president’s urgency on cybersecurity in his ultimate 12 months in office.
meanwhile, a collection of so much smaller (but actual) personal investments in cybersecurity corporations were announced in the past few weeks, together with $ 50 million for Malwarebytes, $ thirteen.7 million for Carbon Black, and $ 9.5 million for EiQ Networks.
Now add Hexadite to the checklist. The startup, with offices in Boston and Tel Aviv, Israel, lately announced an $ eight million sequence A spherical from Hewlett Packard Ventures, TenEleven Ventures, and YL Ventures. Hexadite previously raised $ 2.5 million in seed cash.
Hexadite developed tool that it says automates the method of investigating and resolving cyber breach signals, enabling it to shut down assaults in minutes or seconds, the corporate claims. founded in 2014, Hexadite has a couple of dozen paying customers, co-founder and CEO Eran Barak said in an e-mail message. the company says its know-how helps protect more than 500,000 devices used by consumers in financial services, retail, insurance, manufacturing, telecommunications, existence sciences, and other industries.
Mark Hatfield, TenEleven’s co-founder and general companion, will subscribe to Hexadite’s board. Hatfield used to be previously a associate with Fairhaven Capital, where he invested in or served on the board of quite a lot of cybersecurity companies, including Cylance, CounterTack, belief Digital, Resilient programs, and Digital Guardian.
“enterprises are determined to shut the hole between security adventure detection and resolution,” Hatfield stated in a press liberate. “We have been very impressed with the maturity of Hexadite’s answer.”
a variety of firms have rolled out expertise to realize and shut down cyber assaults, however Barak thinks Hexadite’s approach can assist the corporate stand out within the field. “while other cybersecurity firms are focused on detection and handing off directions to safety personnel, we as an alternative automate your entire investigation and determination process,” Barak stated.
the new money will lend a hand fund Hexadite’s analysis and construction at its Israel workplace, as well as increase its sales and marketing efforts world wide. This 12 months, the company intends to as a minimum double its present group of workers of 20 people, who’re largely situated in Tel Aviv, with smaller groups in Boston, San Francisco, Denver, and Philadelphia, Barak said.
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