US-based cybersecurity company Hexadite closed an $8m series A round backed by Hewlett Packard Ventures, the corporate venturing arm of computer manufacturer Hewlett Packard, yesterday.
HP was joined in the round by venture capital firms Ten Eleven Ventures and YL Ventures, the latter of which previously took part in Hexadite’s $2.5m seed round, announced in 2014 when it emerged from stealth. That round also included Microsoft vice-president Moshe Lichtman.
Founded by three ex-Israeli intelligence officials, Hexadite has developed an automated cybersecurity system it claims automatically investigates and resolves all cybersecurity alerts in a period of minutes, as opposed to weeks.
Lak Ananth, managing director of Hewlett Packard Ventures, said: “When we saw what Hexadite accomplished in such a short amount of time, we wanted to be a part of it.
“The ability to automate cyber alert investigations and shut down attacks in seconds gives customers a chance to defend themselves in a way that has never been possible. We are excited to partner with Hexadite and help bring their innovations to market.”
Hexadite will put the funds toward research and development in Israel and an expansion of its global sales and marketing capabilities.