Allegis Cyber, Jerusalem Venture Partners, Global Brain (Japan) and Connecticut Innovations participate in the financing; Offices open in US and Israel to support go-to-market strategy
“Websites are the front line of the global digital economy and increasingly the focal point of attacks by bad actors. The growing complexity of commerce platforms , banking systems, online digital health and other segments, as well as the extensive use of third-party software makes them particularly vulnerable to attack and compromise,” said Pete Bodine, Managing Director, AllegisCyber. “The reason we invested in Source Defense is because they move the needle in a meaningful way to lock down these sites and ensure they operate without compromise.”
Source Defense provides a fully automated solution that controls the access and permissions of all third parties operating on a website. This ensures compliance with customer data privacy and eliminates the potential for compromised third-party tools to skim payment information or other valuable data while reducing labor-intensive management through features that include:
• Automatic configuration – Policies are set automatically with no administrator involvement
• Ultra Low-touch management – Source Defense prevents attacks while preserving site integrity and performance
“We are glad to welcome additional co-investors Allegis, Global Brain, and Connecticut Innovations as backers of Source Defense”, said Yoav Tzruya, General Partner at JVP. “The company is uniquely positioned to not only solve a threat vector that is dramatically under-served in today’s market – attacks through third-party providers – but also provide value in streamlining SecDevOps, enabling better productivity of marketing and technology teams, reducing the impact of bugs and even offering web performance improvements.”
Source Defense has also announced the opening of two new offices: The company’s new US headquarters in Stamford, Connecticut and a second R&D center in Rosh HaAyin, Israel. The company intends to launch an intensive hiring campaign in both locations.
“The promise of Source Defense is not only the prevention of a universal, persistent vulnerability but that we free up organizations to focus on what really matters when it comes to their websites: delivering a superior user experience,” said Hadar Blutrich, Source Defense CEO and Co-Founder. “We’re extremely excited to bring our innovative product to market, and honored to have a global team of world-class cybersecurity investors onboard.”
Those interested in learning more about Source Defense’s website security platform can reach out for more information, schedule a demo and get a free website security assessment here.
About Source Defense
Source Defense provides an entirely new and unique solution to prevent website supply chain attacks that existing security controls cannot prevent. Source Defense provides a fully automated and machine-learning assisted set of policies that control the access and permissions of all third parties operating on a website, eliminating the potential for unauthorized behavior. The Source Defense solution unlocks a website’s potential by improving user experience and performance while ensuring that third-party tools, which provide rich functionality, may not be leveraged for malicious data extraction or website alteration. For more information, please visit www.sourcedefense.com.
AllegisCyber, based in San Francisco, has pioneered an integrated cyber security investment platform spanning seed to early-growth cybersecurity companies. The firm invests on both coasts of the U.S. and in select international opportunities. Current investments include Area 1, Callsign, CyberGRX, E8 Security, SafeGuard Cyber, Shape Security, Signifyd, Synack, tCell.io and vArmour. For more information, please visit www.allegiscyber.com.
About Jerusalem Venture Partners (JVP)
Jerusalem Venture Partners (JVP), is an internationally renowned venture capital fund based in Israel. Established in 1993 by Dr. Erel Margalit, JVP has raised to date $1.3 billion across 8 funds, and has been ranked numerous times by Preqin as one of the top-ten consistently performing VC firms worldwide. JVP has built over 120 companies, leveraging a broad network of partners and market expertise to help companies to become global market leaders. Among the pioneering firms of the Israeli venture capital industry, JVP has been instrumental in building some of the largest companies out of Israel, facilitating 12 Initial Public Offerings on NASDAQ and numerous industry sales. With a view to building industry leaders, JVP invests in early through growth stage companies in the spaces of Cyber-Security, Big Data, Fintech, Enterprise Software, Storage, Mobile, Media and IoT. https://www.jvpvc.com/
About Connecticut Innovations
Connecticut Innovations is Connecticut’s strategic venture capital arm, providing funding and strategic support to early-stage technology companies. In addition to equity investments, CI provides grants that support innovation and collaboration through CTNext, and connections to its well-established network of partners and professionals. To learn more, visit www.ctinnovations.com.
About Global Brain
To contribute to stimulate the Japanese economy, Global Brain supports startups that tackle various problems and create innovation. Our professionals with high achievement and extensive experience discover excellent startups through our multiple global locations and provide growth support through hands-on. The total asset under management is more than 100 billion yen (approx. US$900M), becoming the largest domestic independent venture capital firm.