Zero Networks, an Israeli cybersecurity startup, has recently raised $20 million in a Series B investment round.
This significant investment follows a remarkable five-fold increase in the company’s revenue, elevating its total raised capital to $45 million. The funding was led by U.S. Venture Partners (USVP), with the participation of Dmitri Alperovitch, co-founder and former CTO of CrowdStrike.
Other notable contributors include existing investors Venrock, F2 Venture Capital, and Pico Venture Partners. The newly acquired funds are earmarked for the expansion of Zero Networks’ development, marketing, and sales teams, to support its ongoing hypergrowth.
Founded in 2019, Zero Networks is spearheaded by CEO Benny Lakunishok and CTO Amir Frankel. The company addresses a critical challenge in the cybersecurity domain: preventing attackers from moving laterally within corporate networks, a common tactic used to exfiltrate data or launch ransomware attacks.
Traditional segmentation solutions to this problem have been complex and labor-intensive, often failing to provide complete protection.
In stark contrast, Zero Networks has developed a pioneering, fully automated Software as a Service (SaaS) platform. This innovative solution learns all network traffic, establishing granular security policies that restrict user and machine access to only essential assets. Access to sensitive protocols, frequently exploited by attackers for lateral movement, is gated behind robust multi-factor authentication processes.
Additionally, Zero Networks facilitates secure connections for remote employees and third-party access to networks, adhering to zero trust principles while maintaining optimal network performance. The company boasts a diverse client base, including major banks, retailers, manufacturers, and public sector institutions across the United States, Europe, and the Middle East.
Benny Lakunishok commented on the funding, “We have significantly exceeded our own growth expectations, and are thrilled to have received this investment from USVP that will allow us to scale our team earlier. It is a testament to our team’s hard work and exceptional commitment to our customers and partners. We are honored to have such a distinguished list of security leaders join our journey.”
Dafina Toncheva, General Partner at USVP, also expressed her confidence in Zero Networks, “USVP has a proven track record of investing in the most successful cybersecurity startups in Israel, and we are thrilled that Zero Networks is the latest addition to our portfolio. We see immense potential in the company’s approach to network security – their impressive growth this year and the satisfaction of their customers underscore the impact they are making in the cybersecurity landscape.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
