Existing partners which include Battery Ventures, Glilot Capital Partners and Amplify Partners also participated in the fundraising. The company plans to use the capital to fuel its market expansion with investments in sales and marketing and product development.
In conjunction with the deal, Daniel Shinar, CEO, ClalTech will join the board of directors at LightCyber. He said, “With major data breaches making headlines nearly every day, traditional security often fails to adequately protect organizations from being breached, and Light Cyber brings a unique solution to solve this issue.”
“We are pleased to join the team led by CEO Gonen Fink and the Co-founders Giora Engel and Michael Mumcuoglu, as well as the strong investors supporting the company,” Shinar added.
Founded in 2012, LightCyber is based out of Los Altos and aims at narrowing the breach detection gap, which is the time after an attacker has breached a network perimeter and is operating freely inside a network, but before he is either discovered or does malicious damage to the organization.
The security start-up uses network behavior analytics tool to identify attackers and anomalies after a period of time to establish a baseline. Later, the company explains, it flags discrepancies, unusual activity and cyber penetrations. Its solutions target cyber-attacks on enterprises by criminal organizations, business rivals, or governments.
Gonen Fink, CEO, LightCyber, said, “We are proud to have the full confidence of our new investors as well as the continued support from our existing investors as we set out in our next phase of growth. The proven value of our Magna platform validates that enterprises need a fundamentally different approach to detect active attackers based on the live behavioral profiling of user accounts, network traffic, and endpoint systems. The strong progress we made during 2015 reflects the efficacy of our solution and the growing market realization that preventative security alone is no longer sufficient.”
LightCyber Magna platform is the security product to integrate user, network and endpoint context platform to provide security from active attacks. It detects the subtle user behavior deviations that could represent suspicious activity, and closes the breach detection gap.
Shlomo Kramer, said, “LightCyber has clearly proven that the Magna Behavioral Attack Detection platform can provide organizations with an unprecedented level of security visibility that can pinpoint active network attackers quickly and accurately and curtail a potential data breach. The market need and opportunity for the Magna platform is extraordinarily high, so it is important to facilitate rapid global expansion.”
In September 2014, LightCyber had secured a Series A funding of $10.5 million by Battery ventures. As of now, it shares market space with competitors like Team8, TrapX, CrowdStrike, CounterTack, enSilo, Attivo Networks and Fortscale.
