Israeli cyber security co SecBi raises $5m

The Beersheva based company’s financing round was from Orange, Connecticut Innovations, Amichai Shulman and JVP.

Israeli cyber security company SecBi has raised $5 million in a Series A financing round from Orange Digital Ventures, Connecticut Innovations, Amichai Shulman and previous investor Jerusalem Venture Partners (JVP).

Beersheva based SecBi said the proceeds will be used to launch SecBI’s debut product, a software solution which automates threat detection and incident investigation. SecBi harnesses machine learning technology to monitor and analyze network log data, identify interesting patterns and hidden threats, and compile comprehensive narratives that help IT professionals ward off cyber attacks swiftly.

Some of the investment will be used for increasing marketing and sales in the US and Europe.

SecBi CEO Gilad Peleg said, “The solution is in production, processing billions of network logs a day, attracting global enterprises and financial institutions. The renewed support of JVP and our new investors Orange Digital Ventures, Connecticut Innovations and Amichai Shulman, will allow SecBI to seize these opportunities, accelerate sales and marketing efforts on a global scale, and establish the right partnerships to provide customers with state-of-the-art solutions.”

SecBi founder and CTO Alex Vaystikh said: “We’re developing cutting edge technology that enables businesses to investigate and mitigate threats more quickly and accurately and with a lot less headache. How? By finding threats that other solutions miss, and delivering a full narrative and incident report that includes all affected users, domains, assets and more.”

Source:http://www.globes.co.il/en/article-israeli-cyber-security-co-secbi-raises-5m-1001154804

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