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Silverfort Raises $30 Million to Accelerate Growth and Meet Customer Demand
Silverfort enables its customers to protect many sensitive systems that other vendors can’t integrate with, such as homegrown/legacy systems, critical infrastructure, file systems, IoT, command-line interfaces, machine-to-machine access and more
FREMONT, CA: Silverfort, a Tel Aviv, Israel-based security startup raised $30 million in a Series B investment round. Led by Aspect Ventures, with the participation from Citi Ventures, Maor Investments, and the company’s early investors TLV Partners, StageOne Ventures, and Singtel Innov8, the latest funding brings the total investments raised by Silverfort to $41.5 million. Mark Kraynak from Aspect Ventures will be joining Silverfort’s board of directors.
The funding will accelerate its fast growth and meet the increasing customer demand for secure authentication and access solutions, which is boosted by the global shift to remote work.
Founded in 2016 by Hed Kovetz, Yaron Kassner, Matan Fattal, and leading cybersecurity and cryptography experts from the 8200 elite cyber unit of the Israeli Intelligence Corps, Silverfort offers a revolutionary authentication platform for enterprises, which delivers strong authentication across entire corporate networks, industrial networks, and cloud environments without requiring modifications to endpoints and servers.
“We are thrilled to have the support of such great investors who share our vision,” said Hed Kovetz, CEO and Co-Founder of Silverfort. “The increased enterprise adoption of cloud, IoT, BYOD and remote work is creating major challenges for implementing secure authentication and access, and calls for a more unified approach. We are excited to continue on our mission to help more companies leverage identity as their new perimeter, and effectively prevent emerging cyber threats.”
Silverfort developed an innovative platform that efficiently enforces secure authentication and access policies (including Multi-Factor Authentication, Risk-Based Authentication, Zero Trust, and more) for any user, device, and system, both on-premises and in the cloud, without the need to deploy any agents, SDKs or proxies. Its unique architecture allows Silverfort to protect large and complex networks and cloud environments in a unified manner, with an AI-driven risk engine that automatically adjusts policies based on the user’s behavior, and prevents threats such as account takeover, ransomware, and lateral movement.
“The shift to hybrid and multi-cloud environments, combined with the dramatic acceleration of remote work is driving the need for secure authentication and access of corporate users beyond the perimeter,” said Mark Kraynak, Venture Partner with Aspect Ventures. “Implementing these security controls system-by-system is no longer realistic. Silverfort brings a disruptive technology that is uniquely designed for the perimeter-less era. We are very impressed by the company’s customer traction, leadership and product vision, and excited to help it accelerate its growth,” he added.