Industrial Cybersecurity Startup Scadafence Raises $10 Million
JVP, NexStar Partners, and Japan-based Mitsui Fudosan and Global Brain Corporation participated in the current round
15:57
21.11.17
Israel-based industrial cybersecurity startup Scadafence Ltd. has raised $10 million in a Series A funding round, the company announced Tuesday. Jerusalem Venture Partners, NexStar Partners, Japan-based Mitsui Fudosan Co. Ltd. and Global Brain Corporation, iAngels Crowd Ltd., and DS Strategic Partners all participated in the round.
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Founded in 2014, Scadafence develops software to protect the computer networks of factories and large industrial facilities. The software detects cyber threats by monitoring activity in an industrial network and analyzing the communication between connected devices.
Scadafence founders Yoni Shohet and Ofer Shakedצילום: Scadafence
Many cybersecurity products on the market were developed for office networks, where there is a need to protect digital communication like emails, Mr. Shohet said. In industrial facilities, computer networks control heavy machinery. Allowing cybersecurity software to override the operation of machines is potentially dangerous, he said.
“Industrial companies prefer to use security solutions that are not too intrusive,” Mr. Shohet said. “They have very sensitive networks.”
The advantage of Scadefence is that its software was developed specifically for the needs of industrial companies, Yoav Tzruya, a partner at Jerusalem Venture Partners, said in a statement.
קראו עוד בכלכליסט:
Scadenfese is headquartered in Beer Sheva, a city in Israel’s southern Negev desert, and conducts research and development from offices in Tel Aviv.
