Israeli-American cybersecurity startup Hysolate raised $10 million this month in a funding round led by Planven, with participation from existing investors Bessemer Venture Partners, Innovation Endeavor and Team8.
The funding will go toward accelerating the development of the company’s newest security solution, an Isolated Workspace-as-a-Service (IWaaS) tool for remote-first business environments. The service allows enterprises to securely deploy local, Operating System-isolated environments on user endpoints and manage them from the cloud.
Hysolate was founded in 2016 and emerged from stealth mode in 2018 to introduce a “hybrid” endpoint architecture technology via a platform that helps businesses run multiple operating systems on a single workstation without security issues or loss of productivity.
The Isolated Workspace-as-a-Service solution is designed for remote-first companies to protect their corporate endpoints with an isolated workspace for high-risk activities and secure corporate access from unmanaged devices. With more companies expected to allow employees to work remotely even post-pandemic, the solution “liberates employees with unfettered access to the applications and websites they need to do their jobs, without posing a security risk to the enterprise,” Hysolate said in the launch announcement.
“Hysolate gives control to IT and security teams to safely manage multiple isolated endpoint environments from the cloud without sacrificing worker productivity,” said Hysolate CEO Marc Gaffan. “We provide a personalized, trusted experience for both users and organizations that are facing tremendous challenges in today’s remote working world. I am very excited about the new funding and the release of the first-ever Workspace Isolation-as-a-Service offering.”
The latest injection of capital brings the total investment in Hysolate to $33 million to date.
Hysolate is one of several companies set up with the assistance of Team8, an Israeli cybersecurity think tank and company creation platform founded by members of Israel’s elite military intelligence Unit 8200. Others include Illusive Networks, which develops deception tech to detect hacking attacks, Claroty, which provides advanced solutions to secure critical infrastructure systems, and Sygnia, a military-grade cyber consulting and incident response company acquired by Singapore’s Temasek for a reported $250 million