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Rappaport is CEO and co-founder at Adallom, pioneers in Software-as-a-Service (SaaS) security.
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Assaf Rappaport has announced that the company he heads, Adallom, has succeeded in raising $15 million in series B funding for the company that he jointly founded in 2012.
The funding led by Index Ventures, with participation also coming from Sequoia Capital Israel, who also participated in the first round of funding. Addalom previously received $4.5 million in Series A funding in January of 2012.
According to Rappaport the new round of funding will be principally invested to allow continued expansion of the company’s sales and development teams, to meet increasing demands for the company’s products and services as well as allowing them to be able to meet increasing opportunities in the marketplace.
With the second round of funding, Shardul Shah from Index Ventures will be joining the board of directors at Adallom, where he will be joining up with Gili Raanan of Sequoia Capital.
Announcing the latest round of funding Assaf Rappaport pointed out that as the adoption of SaaS continues to grow exponentially, protection gaps in legacy perimeter defenses have become increasingly more apparent, a fact that is echoed by our growing customer base. “This latest round of funding provided by such respected venture capital firms will allow us to grow our salesforce and add to our Tel Aviv-based development team. We are also privileged to have Shardul join our team and look forward to benefiting from his extensive knowledge of today’s SaaS and enterprise software environments.” Rappaport summed up.
Like his co-founders at Adallom, Ami Luttwak and Roy Reznik, Rappaport served in branches of the Israeli Intelligence Corps, and they adopted the company’s name Adallom, which is an abbreviation of the Hebrew saying “Ad Halom” which literally means “up to here” or “the last line of defense.”
The Adallom concept, according to the company founders is based on their belief that pre-existing data defense mechanisms are ineffective when it comes to protecting information, when it is in a SaaS format.
Adallom have succeeded in creating a formula, available in a private cloud or a SaaS-based solution formula, that is capable of extending the boundaries of enterprise security even into the cloud storage level, consequently moving control, visibility, and detection directly into SaaS, and keeping it well away from potentially accessible devices and perimeters.
Assaf Rappaport is a graduate of the Talpiot military academy graduate, later going on to graduate with an M.Sc. in Computer Science from the Technion in Haifa. After completing his service in the Israeli Intelligence Corp., where he reached the rank of Captain and project manager Assaf began his professional career with the global management consulting firm McKinsey & Company overseeing project strategy management originally in their Israel offices, later spending some time with them in Australia before forming Adallom.
