Israel Startup Nation is best known for its cyber security firms, so Silverfort is in good company. This is in part because of the country’s security needs and the Israel Defense Forces’ special cyber security units. It also has to do with all of the brainpower that Israel Startup Nation is famous for having.
Already in April Coro, an Israeli cyber security startup that offers an artificial intelligence (AI) powered platform for mid-market organizations, hit a valuation of $500 million, halfway to unicorn status. It did so with a $60 million Series C round of financing which capped a total of $80 million raised in the last 6 months. And Wing Security, an Israeli cyber security startup that calls itself the only holistic SaaS Security platform delivering end-to-end security, emerged from stealth mode with a $26 million Seed + A funding round.
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Founded in 2016, Silverfort has tech that it says enables “secure authentication and access in a unified manner across all corporate resources, both on-premises and in the cloud, to detect and stop identity-based attacks including account takeover and ransomware propagation.”
Using patented technology, Silverfort enforces its protection as a layer on top of the customer’s existing IAM infrastructure, without requiring modifications to endpoints, servers or applications – a capability which is unmatched in the market. This includes resources that couldn’t be protected before, such as legacy applications, command-line interfaces, industrial systems, machine-to-machine access and more. Its platform enables Identity Threat Detection and Response (ITDR), agentless Multi-Factor Authentication (MFA), discovery and protection of service accounts (non-human identities), and adaptive Zero Trust security policies.
“Identity security can no longer be a ‘feature’ that works in silos within each IAM platform, while leaving many sensitive resources out of scope,” said Hed Kovetz, Silverfort’s Co-Founder and CEO. “This lack of end-to-end identity threat protection has turned identity into today’s #1 attack surface, with compromised credentials being leveraged in 80% of all data breaches and ransomware campaigns. This problem required a new approach to identity security: a unified Zero Trust security layer that works on top of all modern and legacy IAM infrastructure, and covers all users, resources and environments.”