Dig Security founders (company pic)
Palo Alto Networks, an American cyber security firm, is set to complete its acquisition of Israeli cloud data security startup Dig Security for as much as $400 million. Meanwhile, the Israeli defense company Silynxcom filed for a “small” public offering on Wall Street, in which the firm looks to raise $8-12 million on the New York Stock Exchange (NYSE).
Silynx plans to plans to issue 2 million new shares at a price of $4-6 per share and expects to come away with a valuation of around $30-40 million.
Founded in 2006, Silynx Communications designs, develops and manufactures ruggedized in-ear headset systems that it boasts provide “crystal clear communications and advanced hearing protection” for elite military and law enforcement teams as well as industrial professionals.
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Silynx says its headset systems protect hearing while also enabling users to hear nearby ambient noises via “hear-thru” technology.
As for the Palo Alto acquisition of Dig Security, Dig Security cofounder & CEO Dan Benjamin said, “Modern cloud applications leverage a broad set of data stores to meet the complex needs of businesses. We developed an award-winning DSPM solution to alleviate this strain by providing a centralized offering to monitor and manage the security of these cloud data stores. Integrating Dig’s technology with Prisma Cloud will enable customers to effectively manage the security of their diverse data stores in modern cloud applications and reduce the risk of data breaches. My co-founders and I look forward to continuing our innovation journey with Palo Alto Networks to make the world safer.”
Founded in 2005, Palo Alto Networks boasts that as a cybersecurity firm, it is shaping the “cloud-centric future with technology that is transforming the way people and organizations operate.”
Dig Security was founded by CEO Dan Benjamin, Ido Azran and Gad Akuka, three veteran entrepreneurs who’ve previously founded successful companies that were acquired by major firms. They also gained experience at tech giants including Google and Microsoft. Since it was founded, Dig has grown extremely quickly; the company already has a large data security research team and paying customers.
Dig Security boasts that its service is unique because it combines the three most important sets of capabilities to secure data in the cloud; First, Data Security Posture Management (DSPM) that highlights data misconfigurations, access anomalies and data vulnerabilities. Second, DLP that prevents data exfiltration early in the kill chain. Third, a real-time data detection and response (DDR) engine that issues alerts as soon as a suspicious activity has occurred. ‘This unique combination,” says the company, “sets Dig as the only solution that addresses static risk of data at rest and in motion as well as real time dynamic risk changes. In today’s standards when the window of opportunity to stop an attacker is less than three minutes, this is a game changer.”
