Morphisec scores JVP led Series C
Israeli cyber startup Morphisec, a developer of cloud-based endpoint and server security solutions, secured $31 million in Series C funding from JVP. In addition to existing investors Orange and Deutsche Telekom Capital, OurCrowd also participated in the round.
"Simple yet effective protection"
Founded in 2014, Morphisec’s suite of solutions for endpoints, servers, and cloud workloads uses patented zero trust runtime security powered by moving target defense technology to block threats, and get ahead of the attackers. Usually, attackers possess a relative advantage over their targets. According to the company, Morphisec security is able to turn the tables, and provide value where other solutions have failed.
Among the trove of attacks that the company claims to prevent, they note Zero Day, APT, ransomware, and more. The company’s solution seamlessly integrates with existing security systems, and once launched, Morphisec says that customers won’t have to worry about external installations, platform management, updates, or other time and cost consuming tasks.
Morphisec CEO Ronen Yehoshua talked about the focus on SMEs, a sector underserved by the cybersecurity community, he said. “The challenges for these organizations have only increased in the last year with work-from-home employees using unsecured devices and connecting to an endless array of cloud-based applications. Morphisec has proven to be the only cybersecurity solution capable of bringing them simple yet effective protection that also fits into their existing budget. With this new investment, we will further our commitment to bring organizations of all sizes threat prevention that stops advanced attacks in their tracks before the breach and costly damage.”
Morphisec will use the funds to recruit talent to their U.S. and Israel based offices. In addition to the round, the company also announced the appointment of Steve Bennett to its board of directors, effective immediately. Bennett formerly served as CEO of major software and security companies, including Symantec and Intuit.
Zoomin are cruisin' with $52M Series C
Zoomin Software, an Israeli startup developing knowledge orchestration solutions for technical support success, announced it has raised $52 million in Series C funding. The investment was led by General Atlantic, with existing investors Bessemer Venture Partners, Salesforce Ventures, and Viola Growth.
"This investment attests to the skyrocketing demand among companies across industries – spanning hardware and software, financial services, healthcare and even fast-food – to provide a seamless, intuitive product content experience to their customers,"
Just 3 months after Series B
Zoomin’s cloud platform analyzes the mountain of content produced by customers, whether it be documentation, API specs, support articles, technical forums, etc. Once analyzed, the data is then filed and distributed across the organization to help answer customer, employee, or partner queries.
The platform learns every user connected, and adjusts relevant info to fit the user’s profile. Zoomin is offered an independent portal, integrating into third party systems like Salesforce and ServiceNow, or as a set of APIs, which can be used by customers to develop relevant products. Additionally, the platform also provides actionable insight into site traffic patterns, efficient search and data consumption, as well as identifying main friction points for customer products.
Zoomin shared that it has doubled new customers year-over-year (2020 and 2019), along with a more than 300% rise in use from its product suite. The company hopes that the COVID ignited digital acceleration movement is here to stay - a main reason behind the company’s exponential growth.
Despite securing a $21 million Series B just 3 months ago, Zoomin has already closed another round that more than tripled the company’s total raised funds to date. In a chat with Geektime, CEO Gal Oron noted that “Zoomin had hit all of its growth targets for 2020, resulting in investors inquiring about becoming stakeholders in the company, even though our last round was just a few months ago, and the company is sitting strong financially.”
Zoomin was founded in 2016 by CEO Gal Oron, President Joe Gelb and VP Product Hannan Saltzman, and is headquartered in NYC, with offices in Tel Aviv and London. The funds will be used to expand the company’s variety of products, as well as penetrate new markets.