The network forensics firm receives a major boost with its latest round of funding to improve its security solutions and reach new markets – and could give RSA a run for their money
In a week filled with cybersecurity related stories, it was announced on Tuesday that Israel based WireX network forensics firm had successfully brought in $9.3 million in new funds. Leading this Round A of financing was Vertex Venture Capital, with Magma Venture Capital joining in. A number of individual investors include Mickey Boodaei and Rakesh Loonkar of Trusteer fame, as well as Aorato founder Idan Plotnik.
The crew over at WireX, which was founded in 2010 by Tomer Saban, Gilboa Davara and Vadim Lipovetsky, provides enterprise level clients with a faster and more effective level of network security solutions. Based on the understanding that attacks on a company’s network are always a possibility, regardless of the measures put in place (see yesterday’s hacking of Ashley Madison), WireX offers its clients a platform that can identify a breach and produce a human-readable report that is actually understandable without the need for a strong security background.
Bringing new solutions to mitigate security risks
Using standard forms of network analysis that are based on full-packet captures of raw data and analysis of high level metadata, it is difficult to pinpoint the relevant history involved in an attack. In speaking with WireX’s CEO and Co-Founder Tomer Saban, he explains that in applying their solution, “It reveals the actions within each of the enterprise applications and extracts the content from inside. This way, we eliminate the need to dig-in full packet captures. We are able to bring together all of the data and connects it to create a full, clear picture.”
This ability to piece together important events from within a network quickly can be essential for helping the hacking victim understand how to address the situation.
Saban notes that, “Our solution brings complete network clarity to enterprises. Any suspicious activity that took place over the enterprise’s network could be easily investigated and resolved. WireX Network Forensics platform continuously analyzes all parts of the enterprise network and translates it into human-readable intelligence. When a malicious activity is detected in the network, the big data platform correlates the analyzed data into a complete ‘network story’ required to handle the incident, minimizing exposure time to threats.”
Standing up to the competition
Providing comprehensive forensics to identify an attack is no easy task and can require a serious team of security experts. This is where WireX is attempting to step into the space with an automated system that can constantly analyze actions in the network. Through their system, WireX claims that they are able to retain 25 times more data than standard solutions.
While big label competitors RSA Security Analytics and Blue Coat Security Analytics offer monitoring and analytical services, WireX seems to come at the capture and reconstruction of data from a very different angle. At first glance, this would suggest that they might have an edge on their competition in providing a highly effective solution.
Reaching out to new markets
With the new influx of cash, WireX plans on establishing a new headquarters in the United States. They will also be expanding their R&D center that will remain based in Israel.
Regarding their target market, Saban says that, “There is a wide range of verticals we are successfully reaching, such as finance, banking, insurance, retail, hi-tech and defense. We believe that this solution will play a key role in a security team of any enterprise.”
In a world where big data is king, a solution that can capture 25 times more information than the average RSA-like tool seems like a reasonable secret sauce to win over almost $10 million from investors to expand to the United States.