The cybersecurity software company has attracted capital from investors including corporates General Electric and Deutsche Telekom.
Israel-based cybersecurity technology developer Morphisec closed a $7m series A round yesterday featuring GE Ventures, the corporate venturing subsidiary of conglomerate General Electric, and telecommunications firm Deutsche Telekom.
Venture capital firm Jerusalem Venture Partners led the round, which also featured crowdfunding platform OurCrowd and investment research firm Portage Advisors.
Launched in 2014 based on research conducted at Ben-Gurion University of the Negev, Morphisec’s technology uses an early detection and analysis system that essentially turns attackers’ own tactics on them to stop them breaking into an IT system.
Morphisec is currently still operating in stealth mode but plans to emerge during the fourth quarter of 2015. It will use the money to launch its product, and increase sales and marketing efforts in the US and Europe.
Ronen Yehoshua, CEO of Morphisec, said: “The strategic investment by GE Ventures, Deutsche Telekom and other leading financial groups demonstrates the value of our unique cybersecurity offering for a broad range of environments, from endpoints to servers, gateways and to cloud security.
“We are already seeing great traction with enterprises and global channels, and this investment will allow us to expedite the sales and marketing of our flagship product in the US and Europe. We look forward to sharing more details about the solution in Q4 when we officially come out of stealth.”
