Another Tel Aviv cyber security startup has landed a strong seed round. Israel’s Intezer announced their first seed investment Thursday of $2 million co-led by CyberArk founder Alon Cohen and Tel Aviv startup hub Samsung NEXT. Cohen is also a co-founder of the company.
Intezer markets what it calls a “virtual security camera” for enterprise software, mapping out all of the software programs being run on company systems, indicating which are currently active including “down to the single code fragment level.” It also purportedly identifies the origin of unrecognized software.
“Most cyber security products look for malicious activity and trigger an alert when identified. The issue is that attackers often succeed in misleading cybersecurity products,” wrote Intezer Co-Founder and CEO Itai Tevet in a press release. “What’s unique about our product is it works like a security camera. It displays all activity, whether or not any malicious activity was detected.”
Tevet counts Israel’s Bank Hapoalim as one of its top clients, pushing the narrative their software is suitable for large companies with lots of sensitive data.
It’s the fifth investment in Israel for Samsung NEXT, which opened its Tel Aviv hub in September. They take a founder-centric approach to investment, typically inviting repeat entrepreneurs to use their hub as a working space with access to Samsung resources. They primarily have a software focus in natural language processing (NLP), business intelligence (BI), IoT, and AR/VR.
“Samsung NEXT invest in entrepreneurs who develop innovative technologies that solve real problems. We were impressed by Intezer’s team and its special solution, their unique experience and their work method,” says Samsung NEXT Tel Aviv CEO Eyal Miller.
Intezer was founded in 2015 by CEO Itai Tevet, CTO Roy Halevi and founding investor Alon Cohen. The money will be used to double staff from their current seven to at least 14.