Israel-based cybersecurity technology producer LightCyber closed a $20m financing round yesterday that was co-led by US-headquartered conglomerate Access Industries through its Israeli subsidiary, ClalTech.
ClalTech co-led the round with cybersecurity entrepreneur Shlomo Kramer, with participation from venture capital firms Battery Ventures and Amplify Partners, and IT security-focused VC fund Glilot Capital Partners.
Founded in 2012, LightCyber provides behavioural attack detection software that incorporates user, network and endpoint context in order to locate and track cyberattacks that have evaded detection from traditional security software.
The company will use the funding to expand its international sales and marketing activity, having expanded in Europe and Asia Pacific so far this year.
Daniel Shinar, CEO of ClalTech, will join LightCyber’s board of directors in conjunction with the round. He said: “With major data breaches making headlines nearly every day, traditional security often fails to adequately protect organisations from being breached, and LightCyber brings a unique solution to solve this issue.”
The round comes after LightCyber secured $10m in a 2014 series A round featuring Battery Ventures, Glilot Capital and angel investor Marius Nacht. Glilot had provided $1.5m in seed capital for the company in 2011.