nsKnox, a Boston, MA and Tel Aviv, Israel – based provider of corporate payment protection solutions based on its innovative Cooperative Cyber Security technology platform, completed a $15m Series A funding round.
The round was led by Viola Ventures and M12, Microsoft’s venture fund, with participation from Discount Capital, the investment arm of Israel Discount Bank, and previous seed investors.
The company intends to use the funds to expand its global customer base and to further develop its corporate payment protection platform.
Founded in 2016 by Alon Cohen – founder and former Chairman and CEO of CyberArk (NASDAQ:CYBR) and led by CEO Nir Tenzer, nsKnox provides a real-time corporate payment protection platform that helps defend organizations against cyber-fraud, internal fraud, social engineering and data manipulation attempts throughout the journey of the payment. The technology allows organizations to validate payment authenticity, verify sender and receiver, and identify and prevent manipulations – safeguarding the payment process across every point of transaction, including enterprise, bank, and supplier.
The platform utilizes the company’s innovative Cooperative Cyber Security (CCS), which combines multiple cybersecurity systems from several organizations to secure both outbound and inbound payments from fraud.