TrapX Security, a San Jose, Calif.-based global leader in cyber deception technology, completed an $18m financing round.
The round was led by Ibex Investors with participation from existing investors BRM, Opus Capital, Intel Capital, Liberty Technology Venture Capital, and Strategic Cyber Ventures. In conjunction with the funding, Brian Abrams, President of Ibex Investors, will join TrapX Security’s board of directors.
The company intends to use the funds to expand the global presence to additional countries and verticals.
Incorporated in 2012 and led by Moshe Ben-Simon, CEO, and Ori Bach, General Manager, TrapX Security has developed cyber deception technology. Their DeceptionGrid solution rapidly detects, deceives, and defeats advanced cyber-attacks and human attackers in real-time and also provides automated, accurate insight into malicious activity unseen by other types of cyber defenses.
The company customer-base includes Forbes Fortune 500 commercial and government customers worldwide in sectors that include defense, healthcare, finance, energy, consumer products, and other key industries.