TrapX Security: Secures New Funding and Appoints New CEO

SAN MATEO, Calif., June 5, 2017 /PRNewswire-USNewswire/ -- TrapX Security®, a global leader in deception-based advanced cyber security defense, today announced the appointment of Eran Barkat as the company's new Chief Executive Officer (CEO). As a previous CEO of TrapX and a current board member representing one of the company's major investors, Eran has in-depth knowledge of the company and his leadership will bring great value during this next phase of company growth.

Additionally, TrapX has secured an additional funding round by the company's existing investors that continue to demonstrate confidence in the company's market leadership and customer success. This funding, combined with a newly streamlined sales and marketing organization, will allow TrapX to better focus on servicing leading-edge enterprises with sophisticated cyber-defense operations.

The change in leadership is part of a larger company-wide transformation at TrapX to dominate the Deception market. In the coming weeks and months, there will be new technology enhancements added to the TrapX DeceptionGrid™ platform, underscoring the company's commitment to its customers and partners. In addition, TrapX will announce new automation features and product integrations with other market leaders.

"The large-scale cyber attacks that occurred recently underscore again the need for early detection and prevention. TrapX has developed a leading security product that reshapes the way people think about enterprise security," said Eran Barkat. "Our product has been well received by over 200 customers and I am excited about our future."

TrapX will continue to drive its partner program. This program is designed to ensure that its products seamlessly connect to a variety of platforms and solutions to better correlate events. As TrapX continues to scale and expand, the company will also provide its channel program with improved sales and technical resources for resellers.

"I am proud to invest further in the leader of deception technology. TrapX represents the future of cyber security," said Tom Kellermann, CEO, Strategic Cyber Ventures. "The DeceptionGrid™ solution should serve as the cornerstone of any proactive CISO's strategy. This investment bolsters a recalibration to laser focus on investment into TrapX's technology platform to best secure the Fortune 1000."

"Our team has developed a leading security product that truly reshapes the way people think about enterprise security and it is successfully providing customers across the globe with advanced threat detection," said Yuval Malachi, Co-Founder and CTO. "Under Eran's new leadership, I'm looking forward to focusing on R&D to take the already industry leading technology to the next level."

"We see solid revenue ramp in our business," said Moshe Ben-Simon, Vice President of Services & TrapX Labs. "Thanks to the ongoing support and confidence of our investors, we remain committed to strengthening our market leadership."

About TrapX
TrapX Security is a leader in deception based cyber security defense.  Our solutions rapidly detect, analyze, and defend against zero day and advanced attacks in real time.  DeceptionGrid™ provides automated, highly accurate insight into malware and malicious activity unseen by other types of cyber defense. We create a proactive security posture, fundamentally changing the economics of cyber defense by shifting the cost to the attacker.  The TrapX Security customer base includes Forbes Global 2000 commercial and government customers around the world in sectors that include defense, healthcare, finance, energy, consumer products, and other key industries.  Learn more at www.trapx.com.

Media Contact:
Jon-Michael Basile
Merritt Group
703-390-1518
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SOURCE TrapX Security

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http://www.trapx.com