Hexadite, a Tel Aviv, Israel-based provider of a cybersecurity platform, raised $2.5m in seed funding.
The round was led by Yoav Andrew Leitersdorf’s and Ofer Schreiber’s YL Ventures with participation from former Microsoft Corporate Vice President Moshe Lichtman.
The company intends to use the funds to further expand, both in the R&D and Sales and Marketing teams. It currently employs 10 people, mostly cyber security experts and former military officers, in its R&D department in Tel-Aviv.
Founded by CEO Eran Barak, Idan Levin and Barak Klinghofer – all former military intelligence officers and private sector security experts, Hexadite has emerged from stealth to provide a fully automated incident response solution that enables customers to investigate and close out all cyber alerts in minutes. The Hexadite Automated Incident Response Solution (AIRS™) aims to maximize customers’ ability to investigate all alerts, post detection, to remediate the full extent of all breaches increasing productivity, reducing ongoing costs associated with investigating and recovering from attacks, and strengthening their overall security.
Hexadite Launch Q&A
Q: What is Incident Response?
A: Cyber Incident Response is the process of addressing and managing the aftermath of a cyber breach or attack. The goal of Cyber Incident Response is to handle the situation in a way that limits damage and reduces recovery time and costs. The incident response phase begins once an alert has been generated in a cyber detection system. The threat investigation, containment and remediation are parts of the incident response process.
Q: What problem are you aiming to solve in the Incident Response market?
A: Due to the rapidly growing number and sophistication of cyber-attacks, resulting in more detection systems being deployed to identify them, organizations receive hundreds, even thousands of alerts on a daily basis from various detection systems. Traditional IR solutions are very complex and demand manual work. The average response time to a cyber-attack is measured in days and even weeks, and in many cases some alerts are left unhandled due to lack of resources. This state of affairs highly increases the risk of sensitive data loss or corruption caused by a successful cyber-attack.
Q: What is Hexadite and what is your value proposition?
A: The Hexadite Automated Incident Response Solution (AIRS) was designed to provide customers an intelligent, automated cyber Incident Response solution. The Hexadite Automated Incident Response Solution rapidly investigates alerts to identify and automatically remediate affected devices and systems, reducing the time to resolve cyber incidents by up to 95%. Hexadite makes sure each alert is fully handled and every cyber incident is closed, thus maximizes productivity of cyber security teams, reduces operational costs and strengthens organizations’ overall security.
Q: Why is Incident Response the next big thing in Cyber Security?
A: Due to the rapidly growing number and sophistication of cyber-attacks, organizations are deploying various types of detection systems (such as SIEM, IDS, DLP, Endpoint protection, etc.) which generate increasing number of alerts. Detection systems keep getting sophisticated as well, however, the solutions that should respond to these alerts – investigate and remediate real threats – haven’t progressed in the past decade. Hexadite’s founders identified this market need at the right timing, and the company is set to change the cyber incident response paradigm.
Q: Is Hexadite a detection system?
A: No. Hexadite is not a detection system. Hexadite provides an automated incident response system. It is designed to respond to cyber-alerts, post-detection, generated by various detection systems such as SIEM, IDS, Endpoint protection, Anti-Virus, DLP, etc. Hexadite automatically investigates these alerts, validates and rules out false alarms and initiates remediation processes.
Q: Who are your typical customers?
A: In a broad sense Hexadite targets enterprises, government agencies and large organizations that need to protect their vital information assets. Our immediate target market really focuses on mid to large enterprises. Any security-aware organization that needs to get better protection from information leaks and other damage that may be caused by cyber breaches is a target customer.
Q: What If a customer doesn’t want full automation in its incident response process?
A: With Hexadite, customers have the flexibility to select ‘fully automated’ or ‘semi-automated’ mode – to achieve the level of granular administrator control they want over remediation functions. Customers can configure which actions will be done automatically by the system and which actions will be supported by the Hexadite solutions and will done manually by the cybersecurity team.
Q: What is so unique in your technology?
A: Hexadite’s SWAT ™ Technology is a combination of proprietary intelligent algorithms and tools designed to quickly and effectively uncover and remediate hidden threats. It’s like having an army of cyber incident response experts always available to automatically neutralize any threat that comes up. The technology can quickly Conduct Parallel Incident Investigations, Remediate Large Scale cyber Events and Validate Remediation Effectiveness and in a fully automated way.
Q: Who are Hexadite’s founders?
A: Hexadite was founded in early 2014 by Eran Barak (CEO), Barak Klinghofer (CPO) and Idan Levin (CTO). All three are former IDF intelligence officers with vast cyber security expertise both in the defense and private sectors. The three co-founders are good friends, and have worked together on various cyber security projects for several years both in the military and in the private sectors.
Q: How much capital did you raise, and who are your investors?
A: Hexadite raised $2.5 million in seed funding led by YL Ventures with participation of former Microsoft Corporate Vice President Moshe Lichtman.
Q: Where is the company based?
A: Hexadite is based in Tel-Aviv, Israel.
Q: How many employees do you have?
A: Hexadite currently has 10 employees and will further expand post this round of financing.
Q: Do you have any customers? / Who is currently using you?
A: The system is now being deployed with our four global customers both in Israel and in the U.S. We are planning to launch the Hexadite Automated Incident Response Solution (AIRS™) in a few months, at which time we will be able to further elaborate on both our customers and capabilities.
FinSMEs
01/07/2014