JVP backs database security firm GreenSQL

GreenSQL said Monday that it has raised $7 million in funding. Jerusalem Venture Partners led the round with participation from return backers that included Magma Venture Capital, Rhodium, Atlantic Capital Partners, Gandyr and 2Bangels. According to the firm, the capital will be used for expansion and growth. Based in Tel Aviv, GreenSQL is a provider of unified database security solutions for SMBs and the enterprise market.

PRESS RELEASE

Tel Aviv, Israel. April 9, 2014– GreenSQL, a leader in unified database security and compliance, announced today that Jerusalem Venture Partners (JVP), Israel’s leading venture firm in the cyber-security sector, would be investing in the company with participation from all its existing investors including Magma Venture Capital, Rhodium, Atlantic Capital Partners, Gandyr and 2Bangels. Proceeds from the round will be used to support international business expansion and the growing needs of enterprise clients to secure their database applications as they migrate to the cloud.
Founded in 2009, GreenSQL is a software-based solution installed as a frontend to the database layer, fully camouflaging and securing the database, while eliminating database vulnerabilities in the face of modern day cyber-attacks. GreenSQL has over 150,000 downloads worldwide and provides protection from internal and external threats in real time. The software is the most popular data security and compliance solution worldwide and prevents SQL injection attacks (today’s number 1 data breach method), at the database layer while enforcing the deepest separation-of-duties (SOD) for the most common databases. GreenSQL solutions are easy to install, configure, manage and maintain, and can be up and running within an organization in a matter of hours.
“This strategic partnership with JVP will allow GreenSQL to expand its activities globally and capitalize on our leading position in securing database deployments over cloud platforms like Amazon RDS and Microsoft Azure,” said Amir Sadeh, CEO of GreenSQL. “Our low-touch solutions allow organizations to overcome their top database security and compliance concerns by complying with the latest database regulations requirements, blocking unauthorized database access, and auditing the activities of authorized users. Our solutions can be applied to databases at the corporate or department level, and deployed on-premise or over the cloud.”
JVP’s investment in GreenSQL reinforces its emphasis on identifying leading Israeli cyber-security firms with strong technological advantages and immense growth potential. JVP is the lead investor in several of Israel’s top cyber-security companies including CyberArk, Nativeflow, ThetaRay, CyActive and operates the JVP Cyber Labs incubator in Beer Sheva.
“GreenSQL is at the cutting-edge of database and cloud security and is providing a product that fills a major market need,” said JVP General Partner Gadi Tirosh. “We are thrilled to be adding such a strong company to our cyber portfolio and see this company’s success and ongoing potential as a further testament to the strength of the Israeli cyber-security sector and the innovation that drives it.”
About GreenSQL:
GreenSQL provides unified database security and compliance solutions for enterprise companies utilizing both on premises infrastructure and cloud architectures. With an all-in-one approach to database security, the GreenSQL product family helps organizations meet their regulatory compliance requirements by providing a real-time alerts and compliance reports, while also securing the sensitive information from authorized database access. The GreenSQL solution provides database security, compliance and dynamic data masking in a single package. As the most popular database security and compliance solution with over 150,000 copies downloaded in more than 198 countries, GreenSQL is committed to delivering total database security and compliance solutions that are easy to deploy and use. (http://www.greensql.com)
About Jerusalem Venture Partners:
Jerusalem Venture Partners (“JVP”) is a prominent venture capital fund based in Jerusalem, Israel, with offices in Beer Sheva, New York and Paris. Established in late 1993, JVP has raised close to $1 billion through nine VC funds and was recently ranked by Preqin as one of the top-ten consistently performing VC firms worldwide based on IRR and net returns. JVP invests in Israeli companies and technologies in the areas of digital media, cyber-security and storage. The fund has invested in close to 100 companies. With over 26 noteworthy exits to date, 13 of which through NASDAQ IPOs, JVP has led some of the laregst exits out of Israel. JVP is one of Israel’s leading venture capital firms focusing on cyber security investments, having built up such cyber-security companies as CyberArk, Navajo (acquired by SalesForce), Magnifire (acquired by F5 Networks), ThetaRay and NativeFlow. (http://www.jvpvc.com)
About Magma Venture Capital
Magma Venture Capital is a leading Israeli venture capital firm specializing in early-stage investments in communication, semiconductors, internet and new media. Managing Partners Yahal Zilka and Modi Rosen founded Magma in 1999. Since then the firm has sought out innovative companies, and has guided many to successful exits, such as Waze, Provigent, Wintegra, Trivnet, and Phonetic Systems. Our goal is to foster and enable the flow of innovation from an idea’s early stages and through a company’s emergence as a leader within its dynamic market.
(http://www.magmavc.com)
About Rhodium
Rhodium invests in early-stage ventures in Israel, New York, and Silicon Valley. Rhodium focuses on identifying and partnering with the very best and most promising entrepreneurs and innovators with a view to building disruptive, world-changing companies, in the fields of advertising, social, mobile, content, commerce and other exceptional technologies. Rhodium’s portfolio includes companies such as Outbrain, face.com (acquired by Facebook), Hopstop (acquired by Apple), YieldMo, Yotpo and ZooZ.

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