Silverfort, a Tel Aviv, Israel-based agentless multi-factor authentication provider, raised $11.5m in Series A funding.
The round was led by TLV partners, with participation from early investors StageOne Ventures and Singtel Innov8. In conjunction with the funding, Shahar Tzafrir, Managing Partner at TLV Partners, will be joining the Silverfort board.
The company will use the funds to expand its sales, marketing, security research and engineering teams in the US, Israel and Europe.
Founded in 2016 by Hed Kovetz, Matan Fattal and Yaron Kassner, Silverfort provides an AI-based policy platform, which enables adaptive multi-factor authentication across entire networks and cloud environments. This includes even systems that don’t support multi-factor authentication today, such as proprietary systems, IoT devices, shared files and folders, industrial control systems (ICS) and more. The company’s patent-pending technology is non-intrusive and does not require deployment of software agents or inline gateways. It allows companies across the financial, healthcare, energy, legal and technology industries, to secure corporate identities and critical assets, prevent data breaches and achieve compliance with regulations like GDPR, PCI and HIPAA without integration and without reducing productivity.