Israeli cybersecurity firm Secret Double Octopus has raised $6 million in a Series A funding round to expand its R&D and growth in Europe and the US.
Participants in the round were Jerusalem Venture Partners, Liberty Israel Venture Fund, Iris Capital, Benhamou Global Ventures, and Yaniv Tal.
The startup, founded in 2015, develops keyless authentication solutions and data-in-motion protection for mobile, cloud, and the internet of things, using—according to the company—algorithms originally designed to protect nuclear launch codes.
Its multilayer approach to authentication, said CEO Raz Rafaeli, “is critical when countering the increasing levels of sophistication today’s hackers demonstrate.”
Yoav Tzruya, partner at Jerusalem Venture Partners, said Secret Double Octopus had effectively merged security with easy user experience.
“Secret Double Octopus offers the best of both worlds – theoretically secure technology, immune to all computational challenges and quantum attacks, seamless user experience, and the ability to deploy in conjunction with all existing solutions,” he said.
“With the imminent cyber security risks presented by IoT and Quantum Computing, we believe Secret Double Octopus is uniquely positioned to address a very large market potential, with its unique set of products based on strong and well established scientific principles,” added Yaron Rosenbaum, partner at Iris Capital.
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