Israeli cybersecurity startup Reflectiz secures over $5 million in Series A funding to transform third-party application security
Technology has permeated every aspect of our daily lives. The impact is even more felt among major companies that now have to rely on technology to automate their process and internal operations. Unlike ten or twenty years ago, however, these new technologies and applications are no longer developed from scratch. Instead, they are woven together using a suite of technologies from third-party vendors thereby saving them time and valuable resources.
However, integrating third-party applications is not without its own sets of challenges. One of them is security. Reflectiz is an Israeli cybersecurity startup that is aiming to address the security threats posed by third-party applications. Reflectiz mitigates security and privacy blind spots on websites to keep online businesses safe from third-party risks and client-side threats, with no setup or installation demands.
Today, Reflectiz announced it has closed over $5 Million in Series A funding to transform third-party application security. This recent investment round was led by Capri Ventures, with participation from Reflectiz’s existing investors.
Founded in 2016 by Idan Cohen and Ysrael Gurt, the Tel Aviv, Israel-based cybersecurity startup detects website vulnerabilities, threats, and privacy issues generated by their 3rd-party technologies. Reflectiz has developed an innovative platform that scans and seamlessly analyzes websites, in order to create the first 3rd-party inventory platform management and detect threats and vulnerabilities. The core process handles enormous amounts of information that run on websites, analyzes it, and then refine it to actionable threats.
“We are delighted to have received this vote of confidence from Capri Ventures and our current investors,” said Idan Cohen, co-founder and CEO of Reflectiz. “We are already feeling the growing demand with multiple industry-leaders now protecting their websites successfully. Now, we are planning to scale up our sales and marketing operations, especially in the US market.”
Digital transformation is a global trend that is powered by third-party applications and frameworks. However, this comes at a price. Banking, fintech, insurance, healthcare, eCommerce, and eService platforms are dealing with a growing number of online threats. Reflectiz enters the picture by mitigating security and privacy blind-spots across customers’ digital assets to drive immediate value.
“We are thrilled to be partnering with Reflectiz,” said Gilly Ron, partner at Capri Ventures, a leading US-based early-stage enterprise tech fund headed by a team of enterprise software executives, with many recent successes including fast-growing cybersecurity, artificial intelligence (AI), machine learning, and cloud management companies. “Reflectiz’s vision and solution are changing the way people look at third-party applications to create a safer digital environment for organizations and users alike,” Ron added.
To support the growing demand for its cybersecurity solution, Reflectiz is in the process of expanding its development, sales, marketing, and operation teams. Reflectiz is also establishing new partnerships to solidify its foothold in the cybersecurity space and gain more expertise.
“Reflectiz is growing rapidly despite the ongoing COVID-19 pandemic, which says everything about our technology and its contribution to cybersecurity,” Cohen signed off.