Israeli cyber security startup Hexadite nets $2.5 mln

Hexadite, which has emerged from stealth mode, said Tuesday that it has raised $2.5 million in seed funding. YL Ventures led the round with participation from Moshe Lichtman, a former corporate vice president at Microsoft. Based in Tel Aviv, Hexadite is a cyber security solutions provider.

PRESS RELEASE

Tel Aviv, Israel & San Francisco, CA – July 1, 2014 – Hexadite has emerged from stealth mode to unveil a groundbreaking new approach to cybersecurity incident response – one that automates the investigation and remediation of attacks to reduce the time it takes enterprises to close out cybersecurity alerts by up to 95%.

The company has announced $2.5 million in seed funding led by YL Ventures with participation by former Microsoft Corporate Vice President Moshe Lichtman. Hexadite was founded by Eran Barak, Idan Levin and Barak Klinghofer – all former military intelligence officers and private sector security experts with a clear vision of how to solve the next big enterprise challenge: efficiently responding to an escalating onslaught of open cybersecurity incidents at any given time.

Cybersecurity threats have been growing in both number and sophistication, resulting in more detection systems being deployed to identify them. However, the solutions designed to investigate and respond to these threats post-detection have remained virtually unchanged over the last decade. It often takes weeks to investigate and close out cyber-attacks, providing attackers with ample time to steal or corrupt sensitive data.

The current solutions used to investigate and close out cyber alerts, handling the post-detection phase through to remediation, rely predominantly on manual intervention. With finite resources, most enterprises are unable to effectively handle all the alerts generated by their various detection systems, forcing tough prioritization that often leads to attacks going unhandled.

The Hexadite Automated Incident Response Solution (AIRSTM) is currently being implemented at the first four global customers, who are using it to investigate cyber alerts and support Hexadite’s solution development.

Hexadite enables customers to:
• Automatically handle thousands of cyber alerts received daily ensuring that all alerts are handled
• Validate and rule out false alarms quickly to maximize the efficiency of cyber incident response teams
• Automatically remediate low level cyber threats, large scale attacks and Advanced Persistent Threats (APTs) to reduce the damage and disruption of successful breaches

“Hexadite creates a paradigm shift in the cybersecurity incident response market by automating and vastly accelerating previously manual processes,” said Yoav Leitersdorf, managing partner for YL Ventures. “Reducing complexity by intelligently automating incident response and implementing best practices across enterprises in a continuous manner is the only way we can combat the ever increasing volume and complexity of cyber threats.”

“Customers are drawn to the possibility of investigating and confidently closing out cybersecurity incidents, within minutes of being alerted,” said Eran Barak, CEO and co-founder of Hexadite. “With our solution, we have seen them reduce response time by up to 95%, resulting in significant operational savings from less manual labor deployed, and less data stolen or corrupted.”

With Hexadite, customers have the flexibility to select ‘fully automated’ or ‘semi-automated’ mode – to achieve the level of granular administrator control they want over remediation functions. The intuitive, easy-to-use interface enables organizations to quickly install and manage Hexadite’s solution, thereby maximizing productivity, cost-effectiveness and overall security.

About Hexadite
Hexadite is changing the way cyber incident response is done, with the first fully automated incident response solution that enables customers to rapidly investigate and close out all cyber alerts, in minutes instead of weeks. The Hexadite Automated Incident Response Solution maximizes customers’ ability to investigate all alerts, post detection, to remediate the full extent of all breaches. This increases the customers’ productivity, reduces ongoing costs associated with investigating and recovering from attacks, and strengthens their overall security. For more information, please visit www.hexadite.com.

About YL Ventures
YL Ventures is a global venture capital firm that was founded to address the changing venture capital financing landscape. The firm invests in cybersecurity, cloud computing, big data and SaaS companies, with particular focus on the Israeli market. Currently investing out of its $27.5 million second fund, YL Ventures accelerate the evolution of portfolio companies via strategic advice and Silicon Valley-based operational execution. For more information, please visit www.YLVentures.com.

 

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