Silverfort, an Israeli-based startup ,declared on 12th April 2022, that it has raised over US $100 million at an undisclosed valuation.
PitchBook’s most recent estimate of the valuation was US $150 million, but that was in August 2020, and the company has expanded since then – 2.5x year over year, with 3.5x growth in the United States.
The investment is led by Greenfield Partners and includes new investors GM Ventures, Acrew Capital, Vintage Investment Partners, and existing investors StageOne Ventures, Singtel Innov8, Citi Ventures, and Aspect Ventures, and Maor Investments. This is a combination of financial and strategic investors. However, Kovetz would not say who utilized its services or how they were being used.
What the founder has to say:
CEO Hed Kovetz:
The company’s platform is designed to operate with existing identity management software providers while also adding a layer of protection to systems and devices that aren’t already protected. In an interview, Silverfort’s co-founder and CEO Hed Kovetz claimed that the latter category is more problematic and a bigger target than some people believe, naming legacy systems and machine-to-machine networks as two of the most vulnerable to hacking these days.
“The market realizes that identification is the next big thing in security, but it is so fragmented.”
What the investors have to say:
Wade Sheffer, MD of GM Ventures:
“As traditional network parameters rapidly change and new threats develop, the requirement for comprehensive threat security across the company is more relevant than ever before.” Silverfort’s investment demonstrates GM Ventures’ commitment to identifying next-generation innovations that will improve a company’s digital enterprise while also aiding GM’s transformation into a technology leader and platform pioneer. We are excited with Silverfort’s progress and believe their technology has the potential to protect GM and others from future identity-based threats.”
Avery Schwartz, a partner at Greenfield Partners:
“The company has spent years establishing a best-in-class platform to solve a significant security challenge to get popular awareness comprehensively.” “The positive impact of the company’s technology and the leadership’s vision and passion energize us.” We believe Silverfort’s tremendous market momentum is just the beginning, and we are pleased to accompany them on this adventure.”
About the company:
Silverfort enables businesses to identify and prevent identity-based threats (such as account compromise, lateral movement, brute force, password spraying, and more), achieve PCI DSS, NIST, and HIPAA compliance, and migrate servers and apps to the cloud without affecting them.
Enterprises can use Silverfort’s breakthrough agentless and proxy less authentication platform. It extends Multi-Factor Authentication, Risk-Based Authentication, and Zero Trust rules across all corporate users, devices, and systems, whether on-premise or in the cloud, in a consistent, AI-driven manner, without requiring any changes to endpoints or servers. Homegrown apps, legacy systems, IT/OT infrastructure, file shares, command-line tools, machine-to-machine access (service accounts), and other designs that couldn’t be protected before are now protected.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
