Israeli cybersecurity startup Reposify raises $8.5M in seed funding to tackle security threats from unknown internet-facing assets
When it comes to organization spendings on IT, cybersecurity takes the lion’s share. According to a report from Forbes Magazine, 30,000 websites are hacked globally every day. In addition, 64% of companies around the world said they have experienced at least one form of a cyber attack.
Today, organizations’ constant digital footprint expansion creates major security blind spots. Unfortunately, many companies still focus most of their energy protecting organization primary assets while ignoring internet-facing assets that don’t live on their local servers. These assets serve as the launchpad and the attack surface used by bad actors to get into the organization’s critical assets. Now, one startup is on a mission to help protect these internet-facing assets.
Enter Reposify, an Israeli cybersecurity startup that delivers the only Google-like search platform that enables enterprises to safely evolve in the cloud by seamlessly detecting and managing all exposed internet-facing assets. Reposify helps enterprises discover unknown exposed assets and shadow IT risks in real-time before attackers exploit them.
To further meet the growing demands for its technology, Reposify announced today that it had raised $8.5 million in a seed round from two US-based VCs, Joule Ventures and First Rays Venture Partners, alongside several industry expert angels. Reposify will use the fresh funding to expand its R&D team to meet its customer’s growing needs and expand its activity in the U.S. market.
Founded in 2016 by Yaron Tal, Reposify provides a platform enabling security teams to detect, prioritize, and manage all exposed internet-facing assets that are centralized or remote across on-premise, subsidiary, cloud, or third-party assets. Reposify was recently recognized by Gartner on its 2021 Emerging Vendors list for a leading External Attack Surface Management (EASM).
In recent years, the need for visibility into external-facing assets and its related exposures has dramatically increased due to a growing number of digital transformation initiatives, such as shadow IT, weakening of the enterprise perimeter, and increased work from home options. Reposify created an algorithm that automatically identifies and associates every internet-facing asset with the organization that utilizes it.
In a statement, SoFi CISO Hilik Kotler, an advisor to the company, said, “Reposify’s robust solution allows DevOps teams to work freely without compromising security. At the same time, it enables cybersecurity teams to identify and prioritize the risk of any web-facing asset. “Kotler added, “Now, teams can avoid ‘asset drift’ when deployments mature, providing an additional layer of monitoring and detection to better control infrastructure and security posture.”
Reposify’s Google-like search platform is seamless, requiring no installation or onboarding. “Reposify’s technology revolutionizes cloud security management. It is the fastest solution to prioritize and understand where security teams should be spending time and ensure nothing is left behind”, said Amit Sridharan, co-founder, and managing partner at First Rays Venture Partners. Reposify addresses this specific CISO pain point with a 24/7 engine that scans the entire internet, including internal assets, allowing security leaders to minimize alerts and data overload while remaining agile in protecting the entire IT network.
During the last year, Reposify has tripled in size and continues to expand its market reach. Recently, the company onboarded Uzi Krieger, an experienced business executive, as CEO to spearhead its growth. “These are exciting times, as Reposify is taking a key role in shaping the way companies move faster and easier while securing their internet-facing assets,” said Krieger. “This is the essence of security as a business enabler.”
Speaking of Resposify’s unique positioning, Dafna Winocur Biran, partner at Joule Ventures, said, “Reposify has a unique combination of top-notch technology, inspiring and seasoned leadership, and a real solution for an acute need that is only going to grow over time.”