Investment to Further Accelerate Worldwide Growth; Investors Include Jerusalem Venture Partners, Orange Digital Ventures, GE, Deutsche Telecom
BE'ER SHEVA, ISRAEL and BOSTON, Feb. 19, 2018 /PRNewswire/ -- Morphisec, the leader in Moving Target Defense, today announced it has raised $12 million Series B round of funding. The round features new investor Orange Digital Ventures, the digital investment arm of Orange (Euronext Paris: ORA, NYSE: ORAN), as well as existing Morphisec investors Jerusalem Venture Partners ("JVP"), GE (NYSE: GE) and Deutsche Telekom (XETRA: DTE).
Additional investors in Morphisec include La Maison, Portage Partners, OurCrowd, Kodem Growth Partners and Evolution Equity Partners.
Morphisec's patented Moving Target Defense innovation is the foundation of its Endpoint Threat Prevention solution, which quickly and simply prevents advanced threats for customers of all sizes globally.
Morphisec's entirely new approach to endpoint protection makes it the only solution that can protect during major operating system patching gaps (like those necessary based on the Spectre and Meltdown exploits), against zero-day attacks (e.g., WannaCry), fileless malware and more, all while providing significant operational and business benefits, including continuity across patch cycles without the need for updates, zero false positives and no performance degradation. Morphisec supports endpoints and servers in physical, VDI and hybrid environments.
"Morphisec is successfully building a rapidly growing customer portfolio based on its truly unique prevention-based approach. We are thrilled to support the Morphisec team in their acceleration and global reach to fundamentally change cyber protection," said Yann Kandelman, head of Investment at Orange Digital Ventures.
"Now is the time to invest in cybersecurity technology that is poised to dramatically hamper attackers' ability to operate and to enable organizations to succeed in eliminating advanced threats," said Yoav Tzruya, JVP General Partner, and Chairman, Board of Directors, Morphisec. "As threats increase in scale and severity, alternative technologies don't fully solve the challenges, further increase direct costs and are unable to fend off business continuity issues caused by zero-day threats. Our belief is that Morphisec is well-positioned to become the most critical protective layer in today's rapidly evolving security stack."
Morphisec's continued growth has been substantial, having achieved over 1000% growth in 2017, with its technology deployed on hundreds of thousands of endpoints. The company announced its Series A funding round in 2015, was named a Gartner Cool Vendor in 2016 and was recognized in 2017 by SE Labs with a 100% efficacy performance rateagainst every attack (evasive malware and exploits) detonated in the lab.
"We built Morphisec to become an essential part of every company's security and IT operation, and to defeat attacks that other endpoint technology cannot," said Ronen Yehoshua, CEO and president, Morphisec. "Our growth has been exponential and this funding will help Morphisec continue on that trajectory. We continue to grow our customer list, our partner ecosystem and our headcount so we can deliver the most groundbreaking technology advancements in a powerful and simple product that prevents advanced threats and exploits like no other."
Morphisec offers an entirely new level of innovation to customers in its Endpoint Threat Prevention product, delivering protection against the most advanced cyberattacks. The company's patented Moving Target Defense technology prevents threats others can't, including APTs, zero-days, ransomware, evasive fileless attacks and web-borne exploits. Morphisec provides a crucial, small-footprint memory-defense layer that easily deploys into a company's existing security infrastructure to form a simple, highly effective, cost-efficient prevention stack that is truly disruptive to today's existing cybersecurity model.
For more information, please visit www.morphisec.com.
FogHorn Appoints New Executives to Accelerate Global Growth
FogHorn Systems, a developer of edge intelligence software for industrial and commercial Internet of Things (IoT) solutions, has made several additions to its executive team. This follows a growth year in 2017, culminating in a $30 million Series B funding round led by Intel Capital and Saudi Aramco Energy Ventures, with new investor Honeywell Ventures joining in. All previous investors also participated, including March Capital Partners, GE Ventures, Dell Technologies Capital, Robert Bosch Venture Capital, Yokogawa Electric Corporation, Darling Ventures, and The Hive.