Israel-based cybersecurity technology provider Preempt has received $17.5m in series B funding from a consortium including Intel Capital, the corporate venturing arm of semiconductor product maker Intel.
Investment management firm Blackstone and venture capital firms ClearSky and General Catalyst also took part in the round, which boosted the company’s total funding to $27.5m, it said. Patrick Heim, operating partner at ClearSky, will join Preempt’s board of directors.
Preempt has created a software platform that identifies and pre-emptively targets cyber threats based on its assessments of their identity, behaviour and risk. It will use the funding to grow its operations.
Wendell Brooks, senior vice-president of Intel and president of Intel Capital, said: “Preempt’s approach helps prevent unauthorised access across the enterprise while helping its customers save money.”
The company’s past funding includes an $8m series A round led by General Catalyst in 2016 that also featured Paul Sagan, formerly CEO of cloud service provider Akamai, and Mickey Boodaei and Rakesh Loonkar, the co-founders of cybersecurity software producer Trusteer.