Israeli Co. Dyadic Security Raises $12M

March 14, 2017 | Israeli company Dyadic Security (Dyadic), a world leader in Software-Defined Cryptography (SDC), announced today the completion of a $12 million Series B funding round led by Goldman Sachs Principal Strategic Investments, Citi Ventures and Eric Schmidt’s Innovation Endeavors. The funding round will be used to expand Dyadic’s sales and marketing operations in North America.  As part of the investment, Innovation Endeavors’ Yuval Shachar has been named Chairman of the Dyadic Board of Directors. Dyadic provides enterprise customers and financial institutions both security and usability in managing their cryptographic keys, rather than the traditional tradeoff. Founded by world-renowned cryptography experts and a strong team of applied crypto software engineers, Dyadic has created the world’s first SDC technology, called Dyadic vHSM (virtual Hardware Security Module). The company was founded in 2013 by Nigel Smart, Yehuda Lindell, and Avner Mor and maintains offices in Petach Tikva, Israel and New York City.