$8 Million Nabbed by Hexadite in the Period of Cyber Security Urgency

This week has seen everybody bothering about cyber security right from governmental agencies to private organizations. Whitehouse and boardrooms have turned quite serious about taking cyber security seriously.

The $19 billion investment for improvements in cyber security by President Barack Obama created headlines. The figure is $5billion more than the current spending on cyber security by the federal government. This initiative was announced to battle the threats pertaining to the cyber world, boost security training and to overhaul the federal computer systems. The question is whether the proposal would be passed by the Congress or not which is Republican controlled. However, the plan signals that the President has realized that there is a need to impose stringent cyber security rules at the office space.

This week has also witnessed smaller investments in cyber security by private companies. Malwarebytes announced $50 million and $13.7 million cyber security investment was announced by Carbon Black. EiQ Networks announced an investment of $9.5 million. Hexadite has also made its way into the list of companies making a move to contribute a bit towards cyber security.

Hexadite is a start-up with offices based in Tel Aviv, Israel and Boston. It made an announcement of $8 million investment in promoting cyber security. The company as well raised $25 million earlier in the form of seed funds. A software was developed by the company which has the potential to automate the investigation process and also resolving of the alerts pertaining to cyber breach. This would enable the shutdown of the attacks in a couple of minutes or seconds as per claims made by the company.

Founded during the year 2014, Hexadite has few customers as of now. The CEO of the company says that the technology developed has the potential to protect more than 500,000 devices which are being used by the clients in retail, financial services, telecommunications, manufacturing, life sciences and other industries.

Hexadite’s board would soon be joined by the general partner and also the co-founder of TenEleven, Mark Hatfield. He has served as a member of board in several cyber security companies which includes Digital Guardian, Resilient Systems, Trust Digital and CounterTack.  Almost all enterprises are keen on bridging the gap between the resolution and event detection pertaining to cyber security.

Several companies have come up with technologies to detect and also to stop the cyber attacks. However the approach by Hexadite is one of its kinds. Cyber security companies are keener in the detection and the handing off part to any experienced security personnel. However, Hexadite plans to automate the entire process of investigation and resolution.

The money raised can help the research and development department of the company which is in Israel. The company as well intends to expand its marketing and sales efforts globally. The company as well plans to double its staff during the current year which is 20.

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