RevealSecurity, an Israeli cyber security startup that offers an Application Detection and Response service, raised $23 million in a Series A funding round. RevealSecurity protects organizations against malicious activities executed by insiders and imposters in enterprise applications.
The world has been rocked by many hacking and spyware problems in recent years. Just a few years ago Sony pictures was humiliated by hackers who revealed publicly numerous private corporate e-mails. The e mils included a lot of unflattering talk about famous actors and other celebrities.
And how often have you heard about spyware and ransomware attacks crippling businesses and even public services? These attacks lock out users from their own systems. Sometimes this is done for money and control of the system is returned to its owners once the ransom has been paid. And even Israeli firms have fallen victim to these kinds of attacks.
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So it is no wonder that startups like RevealSecurity are bringing in the money these days. Also this week, Cyberint, another Israeli cyber security startup, raised $40 million in a Series C round of funding. And earlier in June Perimeter 81, an Israeli cyber security startup, hit the coveted unicorn status with a $1 billion valuation when it raised $100 million in a Series C round of funding.
RevealSecurity detects malicious insiders and imposters by monitoring user journeys in enterprise applications. Powered by a clustering engine, RevealSecurity says that its service is “ubiquitous” at detecting threats which originate from SaaS applications, cloud applications and custom-built applications. It protects enterprise organizations against cases in which either an authenticated user is taking advantage of permissions to abuse or misuse an application, or when an impersonator successfully bypasses authentication mechanisms and poses as a legitimate user.
The Reveal Security platform Tracks user journeys within applications and does not rely on solution-specific rules, and is instead based on an advanced unsupervised machine learning algorithm to detect abnormal journeys which reflect abuse, misuse and malicious activities.
RevealSecurity’s advisory board includes a team of experienced international CISOs: Charles Blauner (Citi, Deutsche Bank, JP Morgan), Ronit Gindes (Migdal Insurance), Jim Routh (MassMutual, CVS Health, Aetna), Bonnie Stith (Central Intelligence) and Sounil Yu (former Bank of America). As part of this round, Patrick Heim, Managing Partner at SYN Ventures, will join RevealSecurity’s Board of Directors together with Jim Pflaging, who joins as an independent board member.
“The detection of insider threats in business processes has always been an unsolved challenge for enterprise CISOs and Risk Officers,” said Doron Hendler, CEO and Co-Founder of RevealSecurity. “RevealSecurity provides an insider threat solution for business processes that actually works with an unprecedented signal to noise ratio.”