Israeli-Born CyberX Nabs $9M to Guard Industrial Internet of Things
[Updated 8/3/16, 9:04 p.m., with information from the CEO.] Another Boston-area cybersecurity firm with Israeli ties is making a splash.
Earlier this year, the startup shuttered the California office and moved those operations to the Boston area (Framingham, MA, to be exact), CEO Omer Schneider says in an e-mail to Xconomy. That location is now CyberX’s headquarters, and Schneider says the company maintains an office in the Tel Aviv area, which mostly handles research and development.
CyberX helps secure Internet-connected devices and networks in industrial settings, like factories, oil rigs, electrical grids, and transportation infrastructure. The idea is to provide real-time detection and alerts about cyber threats, system tampering, and other incidents, thereby reducing interruptions of operations.
The company has raised $11 million from investors to date, Schneider says.
CyberX was founded by Schneider and Nir Giller, two veterans of the Israeli Defense Forces’ Elite Cyber Security Unit. Schneider is based in Boston, while Giller, the firm’s chief technology officer, is in Israel, according to their LinkedIn profiles. CyberX employs 25 people and is hiring, Schneider says.
The company joins a growing list of companies in the Boston area that have a connection to Israel, many of them in cybersecurity. Other examples include CyberArk Software, Cybereason, Hexadite, and RSA.
The new funding round was led by Flint Capital, which has offices in Cambridge, MA; Palo Alto, CA; Tel Aviv; and Moscow. Other contributors to the round were previous investors Glilot Capital Partners, Swarth Group, GlenRock, and angel investors, as well as new backer ff Venture Capital.