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As the total cost of cybercrime reaches into trillions of dollars and continues to rise, an Israeli firm called Intezer — which has built a way to analyse, identify and eradicate malware by way of an ordering system similar to what’s used when mapping out DNA — has raised $15 million to double down on growth.
The funding, a Series B, is being led by OpenView Partners, the VC with a focus on expansion rounds for enterprise software companies, with participation from previous investors Intel Capital (which led the Series A in 2017), Magma, Samsung NEXT, the United Services Automobile Association, and Alon Cohen, the founder and former CEO of CyberArk, who is also a co-founder of Intezer. The company is not disclosing its valuation, and it has raised a relatively modest $25 million to date.
Itai - Tevet - Intezer - Co-founder - CEO
Itai Tevet, Intezer’s other co-founder and CEO who had previously run the Cyber Incident Response Team (CERT) in Israel’s IDF, notes that the startup’s customers include “Fortune 500 companies, late stage startups, and elite government agencies” (it doesn’t disclose any specific names although it’s notable to see the USAA as an investor here).
In an interview, he said Intezer will be using the funding both to expand that list — through two products it currently offers, Intezer Protect and Intezer Analyze (which comes without remediation) — and also to explore how to apply its model to other areas under threat from malicious cyberattacks not traditionally associated with malware.
Technology - Deals - Code - Ways - Device
“Because our technology deals with binary code in general, it’s applicable in many different ways,” he said. “Since any digital device runs binary code (even drones, medical devices, smart phones, …), our technology has the potential to create a big impact in numerous aspects of cyber security to provide visibility, control and protection from any unauthorized and malicious code.”
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