US-based cybersecurity technology developer TrapX Security has closed an $18m series C round that featured semiconductor producer Intel and media group Liberty Media.
Investment firm Ibex Investors led the round, which also featured BRM Group, Opus Capital and Strategic Cyber Ventures. The corporates contributed through their respective investment vehicles, Intel Capital and Liberty Technology Venture Capital.
Founded in 2012, TrapX has developed cybersecurity technology dubbed DeceptionGrid that detects attacks and deceives hackers with fake assets that appear identical to real IT and internet-of-things infrastructure.
The series C funding will enable TrapX to drive international expansion efforts and target additional verticals. Brian Adams, president of Ibex Investors, will join its board of directors in connection with the round.
TrapX closed its $14m series B round in 2016 after securing a $5m extension from Strategic Cyber Ventures. It came after Intel Capital and Liberty Israel Venture Fund, an investment vehicle for Liberty Media, had backed a $9m first tranche the previous year.
BRM Group and Opus Capital also took part in the first series B close. The same two investors had already backed a $5m series A round in 2014 together with TrapX co-founders Yuval Malachi and Moshe Ben-Simon.
