Israeli cybersecurity startup ReSec Technologies secures $4M in Series A funding to protect organizations from file-based malware threats
Cyber threats are on the rise and organizations around the world are under constant attack. No day goes by without news stories of companies being hacked by hackers and cyber actors. Some of the commonly used attack vectors are malware, viruses, email attachments, web pages, pop-ups, instant messages, text messages, and social engineering. According to multiple studies, ransomware attacks are rising globally and more than 90% of malware attacks originating from documents.
Enter ReSec Technologies, an Israeli cybersecurity startup that protects organizations from file-based malware threats. ReSec protects companies from both known and unknown – “zero-day” from email, removable devices, and file-transfer threat vectors (web uploads/downloads, API, File Server). ReSec’s patented technology aims to disrupt a crowded market, that is dependent on detection solutions which often present both security and usability challenges to organizations.
Today, the Caesarea, Hefa, Israel-based ReSec announced it has closed a $4 million Series A round of financing to accelerate global expansion. The round was led by Hong Kong-based Venture Capital fund QBN Capital, with participation from HDI Group, part of Talanx, one of the largest European insurance groups, Disruptive Ventures, a boutique US-based investment house, and Pico Venture Partners, one of Israel’s leading early-stage Venture Capital funds.
Founded in 2012 by Dotan Bar Noy and Oren Shnitzer, ReSec’s gateway solution is used by large and highly sensitive organizations for protection from email, endpoint, file uploads and downloads, and transfer threats.
“We are extremely excited to complete this round and to have QBN and Talanx join our journey,” said Tal Yatsiv, ReSec’s Executive Chairman and CEO. “The investment will allow us to expedite the development and focus on growth and expansion.”
This current round of financing comes during a time of great momentum for ReSec, as its solution has been embraced by dozens of leading organizations and distributed by market leaders, including Tech Data in the United States, Intelligent Wave in Japan, Edvance Security in Hong Kong, and GVM in Thailand.
“ReSec’s solution overcomes the limitations of traditional and advanced-threat solutions alike and allows organizations to achieve a powerful balance between security and usability”, said Philea Chim, Senior Vice President in QBN Capital. “We are extremely impressed with ReSec’s innovative solution and the value it brings to enterprises. We believe that the company is set up for rapid growth.”
In addition to this round of funding, ReSec has been awarded an innovation grant from the Israeli Innovation Authority. With the new financing, ReSec plans to double its team, to focus on expanding sales and marketing activities, and to continue its R&D investment.