Cybersecurity Firm Hysolate Raises $18M For Isolation Platform
Israeli-American cybersecurity startup Hysolate, a Team8 portfolio company, announced Wednesday that it raised $18 million in a Series B funding round led by Bessemer Venture Partners and Innovation Endeavors, with participation from NGP Capital.
As part of the investment, Amit Karp, partner at Bessemer Ventures, and Harpinder Singh, partner at Innovation Endeavors, will join the company’s board.
Founded in June 2016, it came out of stealth mode earlier this year. The company developed a “hybrid” endpoint architecture technology that closes the gap between security and productivity, with a platform allowing enterprises to run multiple operating systems on a single workstation without security issues or the loss of production efficiency.
Hysolate said in a statement that the funding will help “accelerate adoption of the Hysolate Platform, a breakthrough solution that fully protects endpoints from cyberattacks while boosting end-user productivity,” while expanding market presence.
With an increase in high-profile cyber attacks and breaches, “Hysolate’s new approach to securing endpoints with seamless isolation uniquely meets this critical need.”
“End-user devices are deluged by cyberattacks,” said Tal Zamir, CEO and co-founder of Hysolate. “To protect them, most businesses either lock down devices, making it extremely hard for people to work efficiently, or prioritize productivity and take chances with security. Either choice is untenable. Hysolate frees businesses from this no-win situation by transforming devices into the world’s first software-defined endpoints, making them the secure and productive environments they were meant to be.”
Hysolate is among four companies launched out of Team8, an Israeli cybersecurity think tank and company creation platform founded by members of Israel’s elite military intelligence Unit 8200. These companies include Illusive Networks, which develops deception tech to detect hacking attacks, and Claroty, which provides advanced solutions to secure critical infrastructure systems, and the brand new Sygnia, a military-grade cyber consulting and incident response company.