BEER SHEVA, Israel,
January 24, 2017 /PRNewswire/ --
Secret Double Octopus, the pioneer of keyless multi-shield
connectivity and authentication, announced today that it has closed
a $6 million Series A funding round.
The financing round included Jerusalem Venture Partners, Liberty
Media's Israel Venture Fund, Iris Capital, Benhamou Global Ventures
and angel investor Yaniv Tal. The
investment will be used to expand R&D efforts and accelerate
growth in key markets, including the US and Europe.
Based on Secret Sharing algorithms, originally developed to
protect nuclear launch codes, Secret Double Octopus has developed
the only solution on the market that applies keyless authentication
and data-in-motion protection for cloud, mobile, and IoT. The
Company's technology prevents cyber attackers from accessing enough
critical information to be useful for attacks such as brute force,
man-in-the-middle, PKI manipulation, key theft and certificate
authority weaknesses.
"Many security measures, such as SMS verifications,
pseudo-biometric markers, behavioral markers, one-time-passwords
and tokens, employ only a single layer of protection, making them
vulnerable to attack, while also creating unnecessary friction for
the user," said Raz Rafaeli, CEO of
Secret Double Octopus. "Our multi-shield approach to connectivity,
specifically as it relates to authentication, provides customers
with both topflight security and a seamless user experience which
is critical when countering the increasing levels of sophistication
today's hackers demonstrate. We are happy that our new investors,
representing key strategic partners, share our vision and look
forward to expanding our presence in multiple markets."
Founded in Israel by a seasoned
leadership team with more than 100 years' combined academic and
industry experience across networking, information security, and
computer science, Secret Double Octopus was recently designated a
Gartner Cool Vendor.
Investor Quotes:
"It is seldom the case where security solutions ease user
experience," stated Yoav Tzruya, Partner at JVP. "Secret Double
Octopus offers the best of both worlds - theoretically secure
technology, immune to all computational challenges and quantum
attacks, seamless user experience, and the ability to deploy in
conjunction with all existing solutions."
"Secret Double Octopus is improving network security by offering
keyless authentication and post-computational ("quantum-safe")
data-in-motion protection," said Yaron
Rosenbaum, Partner at Iris Capital. "With the imminent cyber
security risks presented by IoT and Quantum Computing, we believe
Secret Double Octopus is uniquely positioned to address a very
large market potential, with its unique set of products based on
strong and well established scientific principles. Iris Capital is
excited to be a part of Secret Double Octopus's journey, and will
actively support the Company by leveraging our 30 years of
experience and network of connections in Europe and around the world."
About Secret Double Octopus
Secret Double Octopus has developed the world's only
keyless multi-shield connectivity technology to protect identity
and data across cloud, mobile and IoT environments. Based on Secret
Sharing algorithms, originally developed to protect nuclear launch
codes, Secret Double Octopus' technology prevents cyber attackers
from accessing enough critical information to be useful for
attacks, eliminating brute force, man-in-the-middle, PKI
manipulation, key theft and certificate authority
weaknesses.
The Company was founded in 2015 by a seasoned leadership team
with more than 100 years' combined academic and industry
experience. Secret Double Octopus is backed by Jerusalem Venture
Partners, Iris Capital, Liberty Media and Benhamou Global Ventures.
For more information, please
visit http://doubleoctopus.com/
About Jerusalem Venture Partners (JVP)
Jerusalem Venture Partners ("JVP") is an internationally
renowned venture capital fund based in Israel. JVP has raised over $1.1bn, built over 120 companies, was ranked by
Preqin as one of the top-ten consistently performing VC firms
worldwide and has led 32 notable exists - 12 IPOs and 20 M&As -
the most recent being the NASDAQ-listed security forerunner
CyberArk (NASDAQ: CYBR) and the Altair Semiconductors acquisition
by Sony Corporation. JVP is renowned for its hands-on
approach in creating companies from seed through its
state-sponsored incubators and deep expertise in the fields of
cyber security, big data, enterprise software, storage, mobile,
media and IoT. Leveraging a rich network of global industry
partners, JVP works closely with international corporations in
Europe, the US and China to drive portfolio expansion. In
2013 JVP established its early-stage investment vehicle, JVP Cyber
Labs, aimed at identifying, nurturing and building the next wave of
cyber-security and big data companies to emerge from Israel. Based
in the epicenter of Israeli cyber innovation in Beer Sheva, JVP Cyber Labs brings together
academia, multinational corporations, and experts with experience
from the military's elite computer units and has become a magnet
for aspiring entrepreneurs from all over the country.
About Liberty Israel Venture Funds
The Liberty Israel Venture Funds ("Liberty Israel") are a pair of venture capital
funds, one organized by Liberty Media Corporation (NASDAQ: LSXMA,
LSXMB, LSXMK, BATRA, BATRK, LMCA, LMCK) and the other organized by
Liberty Interactive Corporation (NASDAQ: QVCA, QVCB, LVNTA,
LVNTB). Liberty Israel is dedicated to investing in Israeli
technology start-up companies, stages A and above primarily, whose
businesses and operations are related to the Liberty Media and
Liberty Interactive portfolios of companies. Liberty Israel's areas of interest include
companies relating to cyber security, the connected car, media and
communications technologies, digital commerce, IT, Big Data and
more. For more information regarding Liberty Israel, please email
info@libertyisrael.vc. For inquiries regarding Liberty Media
Corporation or Liberty Interactive Corporation, please contact
Courtnee Chun at 720-875-5420.
About Iris Capital
Iris Capital is a European venture capital fund specializing in the
digital economy. It supports businesses at various stages of
maturity, from start-up to capital development. Since its inception
in 1986, the Iris Capital team has invested more than €1 billion in
over 300 companies. With its strong sector specialization and
extensive experience acquired over almost 30 years, Iris Capital
provides active support to its portfolio of companies, and has
offices in Paris, Cologne, Berlin, San
Francisco, Montreal,
Riyadh, Dubai, Beijing, Tokyo and Tel-Aviv. In 2012, Iris Capital entered into a
strategic partnership with Orange and Publicis to manage their
joint venture capital initiative. For more information on the Iris
Capital portfolio, visit http://www.iriscapital.com
About BGV
Benhamou Global Venture (BGV), is an early-stage venture capital
firm with deep Silicon Valley roots, with an exclusive focus on
enterprise information technology opportunities in global markets.
The BGV team has successfully built a cross-border venture
investing model, which it is selectively expanding to other markets
and regions globally. The Fund was founded by Eric Benhamou, formerly chairman and CEO of
3Com, Palm and co-founder of Bridge Communications. Comprised of an
experienced partnership team of global operating executives and
investors, BGVII will actively engage and support entrepreneurs
looking to build the next generation of enterprise IT companies.
With a particular emphasis on cloud based services and
applications, cyber security, web-scale infrastructure, business
analytics and the Internet of Things, the Fund will invest in the
compelling opportunities offered as enterprise IT transformation
accelerates. The company has offices in Palo Alto California and Tel Aviv (Israel).
To learn more about our BGV, please visit us
at http://benhamouglobalventures.com or follow us on Twitter:
@BenhamouGlobalV
Media Contact:
Tamar Shmaryahu
GKPR for Secret Double Octopus
tamar@gkpr.com
+972-58-582-6277
SOURCE Secret Double Octopus