SecBi, an Israeli cybersecurity startup company, raised $5 million in Series A funding, the company said Tuesday.
The funding round was led by new investors Orange Digital Ventures, Connecticut Innovations, and Amichai Shulman, and was joined by existing investor Jerusalem Venture Partners. The company plans to use funding proceeds to launch its debut product and increase its marketing and sales footprint in North America and Europe.
SecBi’s product plans to automate threat detection and incident investigation by using proprietary machine learning technology to analyze all network security log data, the company said. These resources allow the product to detect advanced and hidden threats, reveal the full scope of attacks, and create a comprehensive incident storyline with autonomous investigation.
SecBi was founded in 2014 in JVP Cyber Labs in Be’era Sheva, Israel.
The company asserts it is the first solution to deliver a full narrative and cyber incident report that includes all affected users, domains, and assets.
“The solution is in production, processing billions of network logs a day, attracting global enterprises and financial institutions,” Gilad Peleg, CEO of SecBI, said in a statement.
“The renewed support of JVP and our new investors Orange Digital Ventures, Connecticut Innovations and Amichai Shulman, will allow SecBI to seize these opportunities, accelerate sales and marketing efforts on a global scale, and establish the right partnerships to provide customers with state-of-the-art solutions,” he added.
Peter Longo, senior managing director at Connecticut Innovations, said the company intends to eventually open its U.S. headquarters in Connecticut.
“We made the decision to invest in SecBI following a comprehensive review of its technology and initial customer feedback. We are committed to supporting and nurturing cyber security innovation, and SecBI represents exactly the type of forward-thinking partners we are seeking,” Pierre Louette, deputy CEO and President of Orange Digital Ventures, said in a statement.
Yoav Tzruya, a partner at JVP, said SecBi’s product identifies “all the stages of the cyber kill chain, including malware infection in the network, command and control communication, and exfiltration. It also leverages unique big-data and machine learning technology, ingesting raw event data rather than relying on SIEM systems.”