Secdo, a cybersecurity startup with offices in New York and Israel, has raised $10 million in venture capital funding from some high profile investors.
Leading the Series A round were RDC, an arm of Israel’s Rafael Advanced Defense Systems and Elron Electronic Industries (ELRNF); Marius Nacht, cofounder and chairman of Check Point Software Technologies (CHKP), Israel’s most well-known cybersecurity firm; and the founders of Anobit, a semiconductor chip designer that Apple (AAPL) acquired for as much as $400 million to $500 million in 2011.
Shai Morag, Secdo cofounder and CEO, and several of the company’s backers share a common history. Morag, Check Point’s Nacht and Anobit’s Ofir Shalvi are veterans of Talpiot, a prestigious and highly exclusive leadership program within the Israel Defense Forces.
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Gil Barak, chief technology officer and cofounder of Secdo, said that the idea for the two-year-old company grew partly out of his experience in the Israeli military’s Unit 8200, often described as Israel’s equivalent of the U.S. National Security Agency.
“We tried to create a platform that mimics what a high tier security forensics investigator in an enterprise would do, like Mandiant-type investigations,” Barak told Coins2Day on a call, referring to Mandiant, the well-known incident response arm of the cybersecurity firm FireEye (FEYE), which FireEye picked up for about $1 billion a couple of years ago.
“With Secdo the process is entirely automated,” he said.
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Secdo aims to sift through the deluge of security alerts that flood corporate security operations centers and automatically take defensive action based on that information. The tool is designed to record the activity within an organization’s IT systems, trace breaches back to their source, and fix the problems.
“Security teams are overwhelmed with alerts and are unable to respond effectively due to limited resources and the complexity of forensic collection and analysis,” Secdo CEO Morag said in a statement.
On a call with Coins2Day, Anobit’s Shalvi compared the technology to the systems that protect casinos, which have to deal with all kinds of threats to their business.
“Just collecting an entire video feed from cameras is not effective,” Shalvi said. “It’s not just about recording everything, but about building a story in smart way.”
Secdo said it would use the funding to expand its sales in the U.S., its customer support, and its research and development.