On Tuesday, Cybersecurity startup enSilo raised $10 million in Series A funding in a round led by Lightspeed Ventures Partners with investment from Camel Ventures.
The Israeli startup enSilo, founded in 2014, had risen from stealth mode in March, 2015. It offers its users a real-time targeted attack exfiltration prevention platform. The platform developed by enSilo accurately separated the legitimate connections from the malware ones right at the second the connection is made. The founders of the company include CEO Roy Katmor, CTO Udi Yavo, VP Research Tomer Bitton and VP Engineering Ido Kelson who were security veterans from leading companies.
Katmor said, “In the same way chronically ill patients are provided treatments to increase quality of life and longevity, organizations must assume that they are working with a persistently compromised network and learn how to maintain business-as-usual despite the contaminated environment.” He also added, “Time and time again organizations’ networks are infiltrated. We seek to shift the model from trying to block inbound threats to concretely stopping threats actors already on the inside from inflicting damage and stealing valuable data.”
The company was able to secures Series A funding just few months after it raised seed funding. The reason behind it was that the company discovered a security hole in all the versions of Windows. Microsoft recognized the work and took measures to cover the patch. Another reason is that apart from just detecting the attacks, the startup works to prevent them from incurring damage have gained serious venture capital interest this year. In two months period of March and April around four Israeli cyber startups that include enSilo, Skycure, CyActive, Lacoon have raised around $200 million of investment.
The new funds raised will be used to accelerate the growth and expansion of the company into North American market which includes operating new offices on the West Coast. David Gussarsky, partner at Lightspeed Venture Partners who has become part of the board after the investment said , “We are excited to invest in a company whose innovative solution gives corporations and organizations the best of both worlds. First, the assurance that their data is fully protected and second, the knowledge that even if a device become infected, the company can continue working while the threat is resolved.”
Ronen Nir, a General Partner at Carmel Ventures who led the Seed round and is part of the enSilo’s board of directors added, “At Carmen Ventures, we are excited to continue our long-term partnership with the exceptionally talented founding team of enSilo that is already helping businesses protect their assets with its innovative data-exfiltration prevention solution. That shows just how eager the market is for this new approach.”