nsKnox (from website)
nsKnox, an Israeli fintech startup, raised $17 million in new funding from U.S.-based Internet and technology venture capital firm Link Ventures and Harel Insurance & Finance, M12 – Microsoft’s Venture Fund, Viola Ventures, and Alon Cohen, the Company’s Founder and CEO and formerly Founder, Chairman and CEO of CyberArk.
The company said that it will use the new funds to scale its Go-to-Market infrastructure and to expand its product suite to corporations and banks. nsKnox has now raised $35.6 million to date.
Founded in 2016, nsKnox is a fintech-security company enabling corporations and banks to prevent fraud and ensure compliance in B2B Payments. They help organizations avoid significant financial losses, heavy fines, and reputational damage.
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Leveraging its patented Cooperative Cyber Security (CCS) and Bank Account Certificate™ technologies, nsKnox’s solutions detect and prevent finance & ops infrastructure attacks, social engineering, business email compromise (BEC), insider fraud and other Advanced Persistent Fraud attacks.
nsKnox offers an end-to-end technology-driven solution, the PaymentKnox™ Payment Security Platform, that integrates with the company’s unique global account validation technology, master data security, and automated payment transaction scanning to eliminate the vulnerabilities of manual processes.
“We are excited by the potential of this investment both for us and for our customers since 3 out of 4 large corporations were hit by fraud in the last year, and this number is expected to grow in the near future,” said Tomer Goldberg, Managing Director, Harel Tech. “This is a real problem affecting companies in both monetary and reputational aspects, and nsKnox has developed both the technology and the methodology to overcome it.”
“In the current market conditions, this round is a true testament to the importance of what we do at nsKnox and the growing demand for bank account validation and B2B payment security and compliance solutions,” said nsKnox Founder & CEO Alon Cohen. “nsKnox’s mission is to safeguard B2B payments, whether they are outbound or inbound, from external perpetrators as well as bad insiders. We have made a significant leap this year, securing tens of new global corporate customers and growing our total ARR by more than 125%. This funding will allow us to continue developing our platform for corporations and expand our services to banks.”
