Solebit, a US-based cybersecurity technology developer backed by insurance provider Massachusetts Mutual Life Insurance, has been acquired by email and data security firm Mimecast for $88m in cash.
Founded in Israel in 2014, Solebit has developed a software platform called SoleGate Security Platform which stops malicious software code being executed, by employing static analysis to screen all of a customer’s inbound communications in real-time.
Static analysis refers to examining source code without executing the software to which it relates. Mimecast will integrate the technology with the aim of providing e-mail cybersecurity that does not rely on digital authenticity signatures or virtual sandbox simulations of potential attacks.
Solebit closed an $11m series A round in early 2018 led by venture capital firm ClearSky Security that included Massachusetts Mutual’s strategic investment arm, MassMutual Ventures, and Glilot Capital Partners, the VC firm that had previously supplied $2m of seed capital for the company in 2015.