NEW YORK, Feb. 23, 2016 /PRNewswire/ --
ReSec Technologies, developers of the patented Content Disarm & Reconstruction (CDR) cyber protection technology, announced today it raised $5M in Series A funding led by PICO Venture Partners and Founders Group. The funding will drive ongoing development of ReSec's unique approach to preventing malware and other malicious files from reaching users and the enterprise network. ReSec solutions are already used by leading global enterprises and the funding will bring ReSec technology to the U.S. market.
"Enterprises receive hundreds of thousands of documents every day and current approaches are not effective at securing companies against file-based threats. ReSec offers unique protection from both known and unknown threats entering through those documents," said PICO Ventures' Elie Wurtman. "We believe in ReSec's vision that prevention trumps detection. Its approach is on the leading edge of cybersecurity and we are excited to see it take hold."
According to a Duke University/CFO Magazine survey, over 80% of companies have suffered data breaches, which means that many cyber threats are not being detected by conventional signature or behavioral approaches. However, ReSec believes that cyber threats can and should be prevented. The ReSec solution is a real-time, policy-based, deterministic whitelisting engine that removes embedded threats by mapping, reconstructing and replicating the original file, thus preventing cyber threats from breaching the enterprise's perimeter security. It is an effective solution for common malware entry points like 0-day attacks and advanced persistent threats (APT) because it can protect against known and unknown threats without requiring the constant patching of a signature-based solution. ReSec's technology integrates with popular security approaches such as sandboxing, while reducing the dependency on costly sandbox resources by over 50%.
"We don't need to 'see' the threat in order to prevent it. That is how ReSec has been successfully helping enterprises enhance their cybersecurity posture for several years," said Dotan Bar Noy, ReSec CEO and Co-Founder. "We can prevent even the most sophisticated attack without the need and guesswork of detection. It's a simple, peace-of-mind solution that prevents threats, while lifting the restrictions and delays that alternative solutions often impose on users."
Currently, the ReSec solution is available as an on-premise offering that integrates into email, webmail, web proxy, FTP and other automated channels. The Company also plans to offer its solution as a software-as-a-service to support small to medium businesses and large enterprises that take a hybrid approach to IT. The on-premise solution already supports cloud-based applications such as Microsoft Office 365 and file sharing services, and ReSec plans to rollout support to additional services during 2016. ReSec will also be building out its New York City-based U.S. operations with sales, support and business development personnel to better serve its growing global customer base and build partnerships with strategic resellers in the U.S. market.
ReSec will be exhibiting at RSA Conference 2016 in San Francisco from February 29 to March 4 in the South Hall at Stand No. 333.
About ReSec Technologies
ReSec Technologies is the only cybersecurity provider that offers organizations 360° of security, effectively preventing cyber threats from email, web traffic, digital vaults, FTP and USB devices from entering the enterprise network. At the core of the ReSec solution is a unique process called Content Disarm & Reconstruct (CDR) that rebuilds incoming data in real-time according to a defined whitelist of safe data elements matched to user's actual needs and corporate policy. ReSec's solution is integrated in medium to large enterprises such as banks, infrastructure, government, telco, and media companies. To learn more about ReSec, visit www.resec.co or on social media via LinkedIn, Twitter, and Facebook
About PICO Venture Partners
PICO Venture Partners is headquartered in Jerusalem, Israel, with offices in Tel Aviv and New York. Led by serial entrepreneur Elie Wurtman and established, in 2015, in collaboration with Precision Capital, a NY-based alternative investment boutique with approximately $2 billion of assets under management whose investors include leading U.S. entrepreneurs, public company executives and senior private equity and hedge fund professionals. PICO invests in outstanding entrepreneurs and founders and works closely with them to transform great ideas into high-growth, market defining companies. The PICO partnership leverages its broad network of successful entrepreneurs who work closely with founders to assist them in achieving their goals.
SOURCE ReSec Technologies