After a successful year in which about $70 million was invested in its portfolio companies, venture capital firm Elron announced that CrowdStrike has made an investment in its portfolio company Sixgill via the Crowdstrike Falcon Fund. The investment follows the $15 million that Sixgill raised in its previous funding round in February.
Sixgill, the leading cyber company in the fields of analysis and neutralization of cyber threats using precise intelligence, announced Thursday that US-based CrowdStrike, the world's leading company in cloud-based endpoint protection, will make a strategic investment in the company.
The investment in Sixgill will be carried out by the CrowdStrike Falcon Fund in partnership with Accel Partners. The fund focuses on investments in companies that develop applications that have potential for substantial contribution to CrowdStrike and its customers. In addition to the investment, the two companies are developing joint initiatives and will offer their customers enhanced cyber threat intelligence capabilities.
"CrowdStrike's backing is a major acknowledgment of the strength of Sixgill's capabilities and expertise," said Sixgill CEO Sharon Wagner, founder and former CEO of Elron portfolio company Cloudyn that was sold to Microsoft. "CrowdStrike understood the value that our industry-leading contextual intelligence was bringing to the market. This investment validates our approach to actionable and automated intelligence and marks the next step in the evolution of agile and preemptive threat response."
The chief technology officer at CrowdStrike, Michael Sentonas, noted that the security industry continues to undergo a huge transformation amid the shift to remote work by many companies with main systems that integrated hybrid solutions. "We're focused on identifying those startups that are defining modern cybersecurity by enhancing how enterprises stay ahead of emerging sophisticated threats," said Sentonas. "Sixgill's automated data collection and analysis provide deep and accurate threat intelligence, delivering context to drive preemptive security responses that stop breaches in their tracks."
Sixgill's automatic data collection products in the field of threat intelligence (a system that collects intelligence data on malicious activity in the internet, in forums and in the deep and dark web), which are based on data mining and machine learning, provide real-time incident response in order to help companies focus their security operations in the face of an ever-accelerating pace of malicious hacks.
"Crowdstrike's strategic investment is a testament of Sixgill's outstanding technological value," said Zohar Rozenberg, CSO at Elron. "From the first seed investment we led, we could tell the company stands in the crossroads of unique technology and tremendous market pains. They have real disruption potential in the world of cyber intelligence, making real-time response an industry standard. Elron supported Sixgill all through their journey, and we are honored and excited to be there for this significant milestone. We're confident there are great things in their future and will be by their side every step of the way."
Recently, Elron reported a number of other investments in its portfolio companies. Among the companies are IronScales, which developed a platform for automatically locating and blocking phishing attacks, and recently raised $8 million in an extension of its Series B round; OpenLegacy, which is developing a technology enabling the easy bridging of main systems to new systems, and raised $20 million in the beginning of the year; and OneView, which is developing a simulator for analysis of satellite and aerial imagery, and raised $3.5 million in June.