ReSec Technologies, an Israeli cybersecurity company that protects organizations from file-based malware threats, announced Sunday the completion of a $4 million Series A round of financing. The company said it plans to use the capital to double its team, focus on expanding sales and marketing activities, and continue its R&D investment.
The round was led by Hong Kong-based Venture Capital fund QBN Capital, with participation from HDI Group, part of Talanx, one of the largest European insurance groups, Disruptive Ventures, a boutique US-based investment house, and Pico Venture Partners, one of Israel’s leading early stage Venture Capital funds.
“We are extremely excited to complete this round and to have QBN and Talanx join our journey,” said Tal Yatsiv, ReSec’s Executive Chairman and CEO. “The investment will allow us to expedite development and focus on growth and expansion.”
ReSec says that with ransomware attacks rising globally and more than 90% of malware attacks originating from documents, the company's full-prevention solution protects organizations from both known and unknown (“zero day”) file-based malware threats.
In a crowded market that is dependent on detection solutions which often present both security and usability challenges to organizations, ReSec’s Content Disarm and Reconstruction technology offers a zero trust approach and ensures that every document that enters an organization's system is both threat-free and fully functional so that organizations are not forced to compromise on security in order to minimize the impact on their end users, according to the company.
ReSec says its solution has been embraced by dozens of leading organizations and distributed by market leaders, including Tech Data in the United States, Intelligent Wave in Japan, Edvance Security in Hong Kong, and GVM in Thailand. The company's technology is said to be deployed in highly sensitive organizations from diverse industries, including finance, critical infrastructure, defense, government, telecommunications, and airlines.
"ReSec’s solution overcomes the limitations of traditional and advanced-threat solutions alike and allows organizations to achieve a powerful balance between security and usability”, said Philea Chim, Senior Vice President at QBN Capital.