Israeli cyber threat analysis firm Siemplify comes out of stealth after raising $4 million in seed funding

Israel cybersecurity firm Siemplify has come out of stealth by with several pilots programs for its threat analysis platform.

Israel-founded cyber threat analysis platform Siemplify has come out of stealth by announcing pilots with several companies as well as early adopters in the finance, telecoms, and pharma industries.

The Siemplify Threat Analysis Platform analyses security incidents by priority and creates a context of the threat for the best response. Currently it takes roughly 46 days to resolve a cyberattack, according to a Ponemon Institute study with HP.

“The problem is not detection per se but discerning the threats hidden in the noise of thousands of alerts generated by the disparate security monitoring systems,” said Siemplify CEO Amos Stern. “This makes it impossible to see the broader attack chain and identify root cause quickly.”

Orange Telecommunications Israel is among Siemplify’s first clients. “Analyzing and prioritizing tens of thousands of security alerts has been very time consuming. Investigations have been compromised by limited visibility and inadequate tools,” said Arieh Shalem, CISO of Orange Telecommunications Israel. “Siemplify connects the dots in real time, allowing us to shorten the period of time from detection to mitigation from weeks to minutes.”

Siemplify’s founders come from backgrounds in Israel’s defence and intelligence agencies and fields like big data analytics and machine learning.

The startup has raised $4 million in funding from early stage funds and angel investors. These investors include 83North Venture Capital; David Strohm, partner at Greylock Partners; Alex Pinchev, president of global sales and marketing at Rackspace; Alex Daly, former CEO of ArcSight; Tom Kilroy, executive vice president of Intel; and Moti Gutman, CEO of Matrix.

Siemplify has opened a New York office to focus on its sales and marketing, Stern told Research and development remains based in Israel, as there is a stronger security industry in the country and engineers are cheaper than in the US, he said.

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