Israeli cybersecurity startup empow has closed its Series B funding round on $10m.
Ascent Venture Partners is participating as a new investor in the round, joining the company’s existing investors. In February last year, empow raised $9m from both private investors and the Office of the Chief Scientist at the Israel Ministry of Economy.
Headquartered in Israel, with a North American marketing and sales office in Boston (Cambridge), the company serves medium and large enterprises and service providers in North America and Europe.
empow provides an orchestration platform that uses AI and machine learning analytics to classify threats and alerts based on intent. It identifies the most actionable ones and then uses the existing security infrastructure to respond. It claims its platform has the ability to replace conventional SIEM money pits with an ROI-positive platform.
With new capital in, the company is looking to extend its leadership in next-generation SIEM and expand its global sales, marketing and finance operations in Boston. The expansion will enable it to introduce the ‘transformative impact of the empow solution’ to more customers.
Peter George, who has led multiple cybersecurity companies to great success has also joined as CEO. Following the move, current CEO and founder Avi Chesla, will move to CTO. This will enable him to focus on empow’s SIEM technology platform, while helping Peter to evangelize the company’s unique approach in the SIEM market. Chesla holds multiple patents, including the “mind-reading” patent that decodes attacker intent.
“empow’s approach to next generation SIEM has been fully validated,” said Chesla. “We are gratified by the confidence of Ascent Venture Partners, and I am personally thrilled that Peter is joining as CEO. His proven executive leadership skills, strong customer focus and passion for disruptive technologies will help us to take the company to the next level – the leading SIEM provider across the entire security ecosystem. The fact that Peter chose empow after having analyzed dozens of cybersecurity companies says it all.”
empow’s security platform upends traditional approaches by integrating with existing network infrastructure and breaking down security tools into their individual components, dubbedl Security Particles. This creates a taxonomy of security functions that mirrors advanced attack kill-chain models, and enables modeling targeted defense strategies.
Sitting atop of the existing security configuration, the empow Security Platform then executes these defense strategies throughout the network, coordinating optimal detection, investigation and response according to each defense strategy in place. On top of this, it provides advanced threat analytics and security system diagnostics.
That’s platform is built to leverage your skills and requirements to create new security applications. empow’s solution also comes with an out of the box adaptive behavioral analysis service that adds visibility to the internal network’s traffic and detects unknown threats in it.
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