Hexadite Recieves $2.5 Million Funding from YL Ventures
Global venture capital firm, YL Ventures are no stranger to investing in cloud security firms, having previously invested in Firelayers and Seculert, it is no great surprise that they have done it again. They have just announced today, their $2.5 Million seed funding investment into Hexadite, a cyber-security solutions provider. This was done in conjunction with former Microsoft Corporate Vice President, Moshe Lichtman, an angel investor at Israel Angel Investments.
Hexadite claim to be the first fully automated incident response solution that allows for a reaction time of just a few minutes. Hexadite’s solution, called the Automated Incident Response Solution (AIRS), was specially designed to strengthen security, increase productivity and reduce both damages and costs for the user. This is done through immediate identification of threats or breaches, alerts sent to the user, and remediation of the affected devices and systems. This allows the problem to be sorted in minutes as opposed to the weeks some users have come to expect. To achieve this, Hexadite use their own ‘SWAT Technology’, this is a combination of proprietary intelligent algorithms and tools designed to quickly and effectively uncover and remediate hidden threats. Users are given the option to choose either ‘fully automated’ or ‘semi-automated’ mode, which gives them the choice of the level of granular administrator control over remediation functions.
“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.”
Hexadite, however is not a detection system. Hexadite delivers a reactionary incident response system. It responds to cyber-alerts, post-detection, that have been generated by various detection systems including: SIEM, IDS, Endpoint protection, Anti-Virus, and DLP. Once detected, Hexadite investigates, confirms the threat or eliminated out false alarms and initiates the remediation processes.
“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.”
Before you get too excited though, this system is still in its early stages. It is now being deployed for four global customers both in Israel and the U.S. The full launch of the system is due to take place later this year, around November time.
Tel Aviv based Hexadite was only founded earlier this year by three friends, Eran Barak (CEO), Barak Klinghofer (CPO) and Idan Levin (CTO). The three have all formally served in the Israeli army as intelligence officers, they each bring to the table extensive cyber security expertise both in the defense and private sectors. After having worked together in the army the three also worked together at Elbit Systems Ltd before leaving to start Hexadite.
Barak was formally a cyber product-manager for four years in Elbit, Klinghofer worked three years in Elbit as a cyber architect, and had previously worked for a year in Cosmic as senior infrastructure security consultant. Levin worked at Elbit three years as a software engineer, then R&D team leader, prior to this he was the co-founder and vice president of R&D at CallByText.
Though Hexadite currently only has 10 employees, they plan to expand, post this round of financing.
