BOSTON, August 2, 2016 /PRNewswire/ --
CyberX, the leading provider of cybersecurity solutions for the Industrial IoT, announced today the completion of a $9M USD funding round. The round was led by Flint Capital, including existing investors Glilot Capital Partners, Swarth Group, GlenRock, newly joined ff Venture Capital (ffVC) and additional angel investors. CyberX was founded by Omer Schneider and Nir Giller, both veterans of the Israeli Elite Cyber Security Unit.
CyberX has experienced rapid growth since its founding, with dozens of major deployments and a worldwide customer base in North America, EMEA and APAC. The company's technology is currently being successfully used in dozens of industrial and production environments worldwide. This rapid growth is attributed to the company's ability to deliver its unprecedented Industrial Finite State Machine (IFSM) technology, while preserving and providing immediate cyber and operational value to its customers.
"Along with our long list of satisfied customers, this round further validates our innovative solution and execution to date," said Omer Schneider, CEO & Co-Founder of CyberX. "We are excited to have Flint Capital onboard and look forward to working together as we continue expanding our operations worldwide and in particular in North America."
With the rise of the Industrial Internet revolution, increased Machine-to-Machine connectivity and the appearance of new IIoT business models, the security challenges are growing rapidly, making the deployment of cyber security solutions a much higher priority among C-level decision makers at the world's largest manufacturers.
"I'm excited to support the growth of CyberX in North America and worldwide," said Sergey Gribov, partner at Flint Capital. "I believe that the combination of management focus in the US, along with the company's choice to set its HQ in Boston - the business center for cyber security and IIoT - will significantly help CyberX's growth trajectory."
"CyberX's core technology has been achieving unparalleled detection results within industrial environments," said Nir Giller, CTO & Co-founder of CyberX. "Using our dedicated Industrial IoT detection technology, IFSM, we have discovered multiple attacks, as well as critical zero-day vulnerabilities in industrial equipment. At times, this was accomplished within hours. More specifically, IIoT vendors can harness our technology to execute their go-to-market strategy without worrying about getting caught off-guard."
With its field-proven technology being adopted across verticals, ranging from Manufacturing and Energy to IIoT environments, CyberX is positioned as the leader in the Industrial IoT security revolution.
"XSense IFSM technology provided us unique insights regarding our industrial environment," said Frits van Rooij, Senior Instrumentation & Control Engineer for IDE Americas. "We believe it is a must-have technology for every industrial network.
CyberX leads the way in securing the Industrial Internet by providing complete visibility into the IIoT environment as well as real-time detection and alerts of operational incidents, cyber threats and system tampering, thus minimizing disruption to operations and downtime. Seamlessly connecting to any IIoT environment, our flagship platform XSense, which harnesses IFSM technology, provides immediate results by collecting data across the IIoT environment and utilizing Big Data and Machine Learning to optimize the detection of anomalous behaviors.
Serving customers worldwide, CyberX is a member of the Industrial Internet Consortium (IIC) and ICS-ISAC and was recognized by Gartner as a 2015 Cool Vendor in Security for Technology and Service Providers. Named "Best Product in ICS/SCADA Security Solution of 2016" by Cyber Defense Magazine at RSA, its research is considered cutting edge, contributing zero-day vulnerability discoveries to both the US Department of Homeland Security and industrial vendors. CyberX is also a member of the Israeli national consortium chosen to provide cyber solutions for the Tokyo 2020 Summer Olympics, which is supported by Foreign Trade Administration of the Ministry of Economy and Industry and the Israel's National Cyber Bureau of the Prime Minister's Office.
Romit Barratson Sagi
Director of Marketing