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Israeli Cybersecurity Co Alcide Raises $5.2m

Intel and Elron led the investment in the Tel Aviv based company, which will double its workforce from 20 to 40.

Source: Globes

Israeli cybersecurity company Alcide has raised $5.2 million in an exceptionally large seed round from Intel Capital and Elron Electronic Industries Ltd. The company, which was founded 18 months ago and until a few months ago was funded by its founders CEO Ranny Nachmias and CTO Gadi Naor, provides cybersecurity solutions for the data centers and cloud servers sector.

The company has 20 employees in its Tel Aviv offices and following the financing round will double its workforce by hiring more development staff for its Israel office and development staff for its US office.

Nachmias told “Globes” that the timing of the company’s establishment has enabled it to stay ahead of the market.

“Cloud servers are today the beating heart of almost every organization and many of the cybersecurity solutions for servers and data centers were developed four of five years ago and are already old. In the past few years there has been a leap in technology that has brought about a revolution in the field. Our technology provides a solution that barely exists and we have put it through large scale tests that produced excellent results.”

Nachmias hints that these tests were carried out with a major overseas player but he declines to confirm that this was Intel, which has invested in the seed round.

Nachmias added, “One of the problems that we have solved is the proliferation of security providers at our clients. In the present situation, development, operations and security teams in organizations are forced to cope with the technologies of various suppliers and consequently they lose control.

“Furthermore, networks are often dispersed in a way that makes part of it opaque. Our product provides a multi-dimensional response that allows for the reduction of the number of technologies in which interested parties in an organization need to deal with.

“We provide them full transparency in real-time on the state of their cloud including corners that are not currently monitored as well as tools to thwart attacks, internal threats and the theft of sensitive information.”