Israeli cyber-security startup CyActive has received an undisclosed amount of funding from Siemens‘ venture capital unit. According to the firm, the capital infusion will be used for research and development, expansion and growth.
TEL AVIV, Israel, September 18, 2014 /PRNewswire/ —
Predictive cyber security startup CyActive today announced a strategic investment from the Venture Capital Unit of Siemens (SFS VC). CyActive, the first company to forecast and detect future cyber-attacks, delivers a radically disruptive approach to cyber security that applies bio-inspired algorithms combined with a deep understanding of the hackers’ process to predict the ways in which hackers will modify malware to evade existing security measures. Its comprehensive solution provides large enterprises, utilities and medical devices segments with protection against future malware. The investment in CyActive marks the first investment of Siemens’ ‘Industry of the Future Fund’ in Israel. The Venture Capital Unit of Siemens joins Jerusalem Venture Partners (JVP), a top ten global venture capital fund in investing in CyActive.
“CyActive’s technology is extremely sophisticated yet lightweight, an imperative for many of our customers,” explains Ralf Schnell, CEO of the Venture Capital Unit of Siemens. “We see broad potential across major industries and are particularly excited by its approach to securing industrial and utilities assets. CyActive’s founders are leaders in the field and the company’s unprecedented predictive cyber security technology turns the economic equation in favor of the defender.”
The industrial, utilities and medical markets face increasing threats, as well as imminent regulation and will need to overcome a unique set of challenges in order to secure their assets and achieve compliance. CyActive’s platform independent solution supports a variety of operating systems and network protocols, and includes a network appliance (inspecting industrial SCADA communication) and endpoint agents residing on the Human-Machine Interfaces (HMI). CyActive’s agents have low CPU and memory requirements and can tolerate low update frequency, making it ideal for critical infrastructure that cannot be disrupted or taken off-line.
“CyActive offers the opportunity to change the model of Industrial Control Systems (ICS) security from a reactive model to a proactive model. This achievement addresses the long life cycles within ICS for critical legacy devices,” explains Rajiv Sivaraman, Global Head of Siemens Plant Security Services.
CyActive’s solutions spanning end-point, network and virtual patching products are geared at dramatically reducing the number of attacks on an organization and encumbering the attackers with significant overhead.
“We are thrilled by this vote of confidence from Siemens, global leader in industrial and utilities markets,” said CyActive co-founder and CEO Liran Tancman.
“The investment recognizes the need for industrial and CIP technologies that tackle the toughest security challenges,” says Shlomi Boutnaru, CyActive co-founder and CTO. We look forward to expanding CyActive’s ability to protect the world’s most critical assets.”
“By predicting and preventing the ways in which hackers will retool malware, CyActive’s predictive engine helps companies avoid financial and operational, direct and indirect damages while redefining the cyber equation by placing the defender ahead of the attacker. Moreover, CyActive shifts the cost burden back to hackers, so cybercrime does not pay off,” said Yoav Tzruya, Partner at JVP Cyber Labs.
CyActive, founded in 2013 by acclaimed cyber security professionals CEO Liran Tancman and CTO Shlomi Boutnaru, will use the funding for research and development, expanding marketing and sales, and growing its North American presence.
CyActive is a predictive cyber security company, which places its clients ahead of potential cyber threats by predicting and preventing future attacks. CyActive has developed an unprecedented ability to automatically forecast the future of malware evolution based on bio-inspired algorithms and a deep understanding of the black hats’ hacking process. CyActive is the first to offer proactive detection of future malware before it has ever seen the light of day. The resulting solution delivers unparalleled protection to networks, endpoint devices and SCADA equipment. CyActive is backed by JVP (http://www.jvpvc.com), Israel’s leading venture capital firm, through JVP Cyber Labs in Be’er Sheva, Israel, and the Venture Capital Unit of Siemens, and enjoys close collaboration with Ben-Gurion University of the Negev. Please visit http://www.CyActive.com for more information.
About the Venture Capital Unit of Siemens
As part of Financial Services, the Venture Capital Unit of Siemens is the corporate venture capital organization of the company and invests in early stage technology companies and established technology growth companies, focusing on the energy, healthcare, industry, and infrastructure and cities markets and hence plays a key role in Siemens’ global innovation network. The aim is to identify innovative solutions from which Siemens and its customers can profit and to strengthen business partnerships with innovative industry players. Since 1999 the company has invested in about 180 start-up companies worldwide. For more information, visit http://www.siemens.com/venturecapital.
About Jerusalem Venture Partners
Jerusalem Venture Partners (JVP) is a leading Israeli venture capital firm. JVP is managing more than a billion dollars across nine funds since its establishment in 1993 and was recently ranked one of the top 10 consistently performing VC funds worldwide. The fund has invested in over 100 companies, and has been instrumental in leading 26 of the largest exits out of Israel. JVP invests in innovative companies in the areas of cyber security, big-data, digital media and storage. Its cyber security portfolio includes leading companies such as CyberArk, Navajo (acquired by SalesForce), Magnifire (acquired by F5 Networks), ThetaRay and CyActive.