Valid Network, a Be’er Sheba, Israel-based provider of enterprise security solutions, raised $8M in seed funding.
The round was led by Ten Eleven Ventures with participation from Jerusalem Venture Partners.
As part of the round, Mark Hatfield, Co-Founder and General Partner at Ten Eleven Ventures, joined Valid Network’s board of directors.
The company will use the funding to accelerate further research and development of its solution and increase its engineering and research teams in Israel.
Founded by security veterans Kfir Nissan and Gilad Eisenberger, Valid provides a new enterprise security solution to safely develop and deploy blockchain-based business applications. The solution is protocol-agnostic and ensures compliance while dynamically detecting and preventing breaches and attacks.
In addition to the funding, Valid will also open an office in New York City, scaling business development and partnership efforts there.