Israel-founded cyber security threat platform Siemplify raises $10 million Series A

Israel-founded cyber-threat analysis platform Siemplify has raised an additional $10 million, following a $4 million round in January. The new round was led by 83North and G20 Ventures, and also included Dave Strohm of Greylock Partners and Alex Daly, founder of Arcsight, among others.

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.

“This funding will enable us to expand our vision of a single pane of glass and meet the escalating demand we are seeing within the enterprise and MSSP marketplaces," said Siemplify CEO Amos Stern. "Customers are fatigued with the myriad of tools necessary to run their security operations and initiate response. With ThreatNexus, for the first time, our customers are realizing an end-to-end solution that they’ve long been craving.”

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

Investors in the previous round in January included 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.

“The team at Siemplify has created a revolutionary solution that is changing the way in which organizations scale their security operations and protect their environment,” said Bill Wiberg, Co-founder, G20 Ventures. “Current and prospective customers have made it remarkably clear to us that ThreatNexus is now the primary tool their analysts rely on to respond to threats. SOC teams no longer have to navigate across multiple tools and siloed systems to investigate and mitigate cyber threats.”

Siemplify has a New York office to focus on its sales and marketing, while research and development remains based in Israel.

Read more: Business Wire (Press release)

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