Morphisec said to raise $31m to grow its US and Israel teams

Endpoint security solution Morphisec has reportedly closed its latest funding round on $31m to hire more staff in the US and Israel.

The round was led by Jerusalem Venture Partners, with commitments also coming from Orange and Deutsche Telekom Capital Partners, according to a report from Globes.

Based in Israel, Morphisec hopes to use the capital to hire more staff for its US and Israel teams.

The cybersecurity company claims it protects more than 5,000 enterprises and seven million endpoints. It also claims the technology prevents a total of 15,000 ransomware, malware and fileless attacks each day.

Its platform is used by companies in finance, healthcare, manufacturing and many other industries. Clients use the technology for incident response, remote employee security, cloud workload security point-of-sale protection, ransomware prevention, anti-virus,  supply chain protection and more.

Morphisec CEO Ronen Yehoshua told Globes, “Mid-sized enterprises are historically underserved by the cybersecurity market and left behind by cost-prohibitive tools and staff constraints.

“The challenges for these organizations have only increased in the last year with work-from-home employees using unsecured devices and connecting to an endless array of cloud-based applications. Morphisec has proven to be the only cybersecurity solution capable of bringing them simple yet effective protection that also fits into their existing budget.”

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