Israeli cybersecurity firm Morphisec raises $31 million in funding

By OMRI RON

MARCH 29, 2021 01:55

[Illustrative] A man holds a laptop computer as cyber code is projected on him. (photo credit: KACPER PEMPEL/REUTERS) — [Illustrative] A man holds a laptop computer as cyber code is projected on him.

(photo credit: KACPER PEMPEL/REUTERS)

Morphisec's flagship product: Morphisec Guard, combines traditional antivirus with the power of Morphisec’s advanced protection against ransomware, malware, and evasive attacks.

Cybersecurity company Morphisec has announced funding worth $31 million on Thursday for its automated cybersecurity solution, according to a statement by the company.

The company claims its automated solution can provide a cost effective way for companies to protect their online work in a time in which it is necessary, as many employees have begun working from home due to the coronavirus pandemic. The company promises to defend these clients without needing dedicated security teams to respond to and investigate attacks, instead automatically stopping the most dangerous attacks.

Rather than trying to remediate attacks after they hit, Morphisec’s proprietary technology stops attacks deterministically and automatically, without requiring knowledge of threat type or manual oversight.

Morphisec's product, the "Morphisec Guard," combines traditional antivirus with the power of Morphisec’s protection against ransomware, malware, and evasive attacks.

The funds gained from this investment round led by JVP as well as other existing investors, such as Orange and Deutsche Telekom Capital Partners, will also be used to hire more employees in both Israel and the US.

“Organizations today settle for low efficacy, high cost, non-deterministic, performance-impacting, knowledge-challenged sets of solutions like EDRs, behavioral, and signature-based approaches. These result in uncertainty, high-cost, and are difficult to manage in WFH and Cloud environments,” said Yoav Tzruya, general partner at JVP. “Morphisec’s unique approach provides measurable, deterministic, low-cost value while providing best-in-class protection, serving distributed organizations and further allowing risk-free cloud migration."

“Morphisec has brought the most significant innovation to prevention the market has seen in the last 10 years,” said Steve Bennett, former Symantec CEO and new appointee to Morphisec’s board of directors. “I’ve never witnessed a cybersecurity company that has delivered so much value potential for mid-sized customers."