Hewlett Packard Ventures, Ten Eleven Ventures, and YL Ventures Join in Series A Funding for Security Orchestration and Automation Pioneer Hexadite
$8 Million Investment Round to Fuel Research and Development and Expand Marketing and Sales Worldwide
BOSTON and TEL AVIV, Israel, Feb. 10, 2016 /PRNewswire/ -- Hexadite, Inc., the leader in security orchestration and automation, announced today it closed $8 million in a Series A funding round from Hewlett Packard Ventures, Ten Eleven Ventures, and YL Ventures, who also invested in Hexadite's seed round. The company plans to use the funds to accelerate research and development in Israel, expand its marketing and sales operations worldwide, and continue to build momentum for the industry's first solution that fully automates cyber security incident response, Hexadite AIRS™.
"When we saw what Hexadite accomplished in such a short amount of time, we wanted to be a part of it," said Lak Ananth, managing director of Hewlett Packard Ventures. "The ability to automate cyber alert investigations and shut down attacks in seconds gives customers a chance to defend themselves in a way that has never been possible. We're excited to partner with Hexadite and help bring their innovations to market."
"Enterprises are desperate to close the gap between security event detection and resolution," said Mark Hatfield, co-founder and general partner, Ten Eleven Ventures. "We were very impressed with the maturity of Hexadite's solution; they are the only company we've seen that truly understands how to fully automate the end-to-end incident response lifecycle. Hexadite's ability to add intelligent automation and orchestration to resolve security events is a great leap forward that addresses a vital need for customers."
Ten Eleven Ventures co-founder Mark Hatfield will join the Hexadite board. Hatfield is a long time security venture capital pioneer whose prior investments included Cylance, CounterTack, Trust Digital, Resilient Systems (CO3), and Digital Guardian.
In 18 months with $2.5 million in seed funding, Hexadite brought to market the industry's first security orchestration and automation solution, protecting more than 500,000 devices in customers from the financial services, retail, technology, insurance, manufacturing, telecommunications, life sciences, and healthcare industries. With Hexadite, enterprises can overcome the skills, expertise, time, and resource shortages that plague their security operations centers (SOCs).
"The world's attention is on cyber security, as cyber threats and hackers continue to evolve and perpetrate devastating breaches,' said Yoav Leitersdorf, managing partner at YL Ventures. "Automating the entire end-to-end process from alert to investigation through actual resolution is the only approach that allows companies to scale their defenses. Hexadite is at the forefront of the movement to intelligent automation."
"Our solution can handle all the variables involved in today's cyber threats to give customers the ability to investigate, respond, and resolve an ever-increasing volume of incidents in minutes and even seconds," said Eran Barak, CEO and co-founder of Hexadite. "This round will enable us to further develop our innovative technology and bring it to more customers in additional markets to start turning the tables on today's cyber threats."
Hexadite is changing the way cyber incident response is done with the first security orchestration and automation solution that automatically investigates and resolves all cyber security alerts in minutes instead of weeks. The Hexadite Automated Incident Response Solution (AIRS™) maximizes a customer's ability to investigate attacks post-detection to resolve the full extent of a breach. This increases the customer's productivity, reduces ongoing costs associated with investigating and recovering from attacks, and strengthens their overall security. For more information, please visit www.hexadite.com.
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SOURCE Hexadite, Inc.