Israeli cybersecurity startup Perception Point announced on Wednesday that it has raised $28 million in a Series B funding round led by Red Dot Capital Partners, and joined by global investor NGP Capital along with existing investors Pitango Venture Capital and State of Mind Ventures (SOMV).
The latest round brings the company’s total funding to date to $48 million.
Founded in 2015, Perception Point offers fast interception of content-based attacks across collaboration channels including email, cloud storage, CRM apps, and messaging platforms. The company said that over the past year, it tripled its recurring revenue and expanded its customer portfolio to include users from multiple industries.
“Our prevention-as-a-service approach solves the customers’ most advanced messaging and collaboration security challenges, showing value immediately,” said Yoram Salinger, CEO of Perception Point, in a company statement. “We combine a seven-layer platform that easily and quickly integrates with any application along with a comprehensive Incident Response service to ensure flawless prevention, monitoring, and remediation of any attack.”
Yoram Oron, chairman and managing partner at Red Dot Capital Partners, who will be joining Perception Point’s board of directors, said the company “is perfectly positioned to capture the rapidly growing yet untapped messaging and collaboration market.”
“We are pleased to join forces with the company and the other investors to help the company expand to new verticals and other parts of the world. The beauty of Perception Point is that it addresses challenges that many companies encounter today, offering a 360-degree, SaaS solution that enhances enterprise security and allows users to become more agile and responsive,” he added.
“Perception Point is a great example of a startup solving complex problems with innovative ‘hacks’ in the development of its core IP, leveraging rapid API-based integration and the cloud to provide instant value to customers while continuing to gain strong commercial and technological momentum,” said Bo Ilsoe, Partner at NGP Capital.
Perception Point said it will use the funds from this round to expand to new markets, accelerate product innovation and grow its team to support customer demand.