DATA SECURITY,PLATFORM SECURITY,SOFTWARE SECURITY
Fordefi | November 09, 2022
Fordefi, a financial technology and software company, today announced an $18 million seed round and the public launch of its institutional MPC wallet built for transacting on decentralized applications (dApps). Led by Lightspeed Venture Partners, the investors of the firm's initial capital raise also include Electric Capital, Alameda Research, Jump Crypto, Castle Island, Pantera Capital, Illuminate Financial, PayPal Alumni Fund, Nima Capital, Digital Currency Group, Defiance Capital and StarkWare.
"The Fordefi team is bringing to market a solution that addresses two of the biggest challenges in DeFi today: institutional-grade security and smart contract transparency," said Sam Harrison, Senior Advisor at Lightspeed Venture Partners and Managing Partner at Faction. "We are excited to support an experienced team bringing a powerful solution to market that directly solves pain points that have held institutions back from achieving the full potential of decentralized finance."
"Wallet hacks made major headlines this year. Until now, decentralized finance was missing a secure, stable, and seamless way to connect to dApps," said Ken Deeter, Partner at Electric Capital. "Fordefi's single-browser extension paired with a top-notch institutional grade MPC wallet platform will unlock opportunities across DeFi for all crypto-native institutions. We're excited to be part of Fordefi's journey, as an investor, design partner and customer."
Introducing the Fordefi Platform
Co-founders Josh Schwartz, CEO, Dima Kogan, CTO, and Michael Volfman, Vice President of Research and Development, began developing the Fordefi platform in 2021, an unprecedented year for crypto adoption, as institutions took notice of the explosive growth and massive volumes of digital assets moved into the markets. A boom in the development of new blockchains and decentralized applications created opportunities for investing that institutions could not safely participate in, as available wallets had been designed years before and lacked the technology to securely and confidently connect them.
"Decentralized finance is evolving quickly and its complexities require a dynamic solution," said Schwartz. "Legacy wallet providers are unable to meet the needs of institutions that want to access the new opportunities DeFi has created while ensuring their assets are protected. Fordefi has taken a DeFi-first approach and has built a solution engineered for how clients interact with dApps."
"DeFi transactions are much more complex than simple asset transfers, and that's the key to DeFi's exciting new opportunities," said Kogan. "Unfortunately, this complexity also brings with it many new security risks. Fordefi enables institutions to interact with DeFi applications with increased operational efficiency and security through in-depth visibility into each transaction and the ability to set the right controls."
A first of its kind wallet and security platform, Fordefi enables market participants to easily and securely connect to decentralized applications. Fordefi's platform is the only institutional MPC wallet on the market built for firms transacting on decentralized applications across blockchains. The solution delivers a previously unavailable degree of insight into transactions, translating smart contracts into language that users can understand, simulating every transaction in advance and independently verifying dApp names. Its advanced MPC key management capabilities are built to protect against any single point of failure, and the platform's unique policy management capabilities offer users the ability to create and define their own workflows, proactively protecting themselves from both internal and external vulnerabilities.
"Fordefi has been a tremendous addition to our DeFi workflow. We've seen accelerated deployment efficiency across a comprehensive set of on-chain opportunities, alongside enhanced user intuitiveness and without compromising security." Shane Al, Head of Investments at Arc Capital and Fordefi design partner.
"The Fordefi platform provides robust solutions for institutions to access thousands of DeFi opportunities with the highest levels of security. The platform is extremely customizable and allows us to manage our own policies and controls, ensuring a balance between flexibility and security - crucial for liquid fund strategies." Jacob Goh, Head of Operations & Investor Relations at DeFiance Capital, Fordefi investor and design partner.
Fordefi's MPC wallet platform and Web3 gateway enables institutions to seamlessly connect to dApps across a wide range of chains while keeping digital assets secure. Fordefi is the first institutional MPC wallet and security platform built for decentralized finance (DeFi), offering MPC key management, self-serve DeFi policy controls, time-of-transaction smart contract insights, transaction simulation and risk alerts. Fordefi was founded in 2021 by crypto custody and cybersecurity experts, and designed in close collaboration with industry-leading trading firms, funds and custodians. Fordefi is a financial technology and software company with offices in New York and Tel Aviv.
About Fordefi's Founders
Josh Schwartz, Dima Kogan and Michael Volfman founded Fordefi after establishing themselves with decades of experience as leaders in crypto, cybersecurity, and financial services. Schwartz served as Chief Operating Officer at Curv, an institutional MPC wallet acquired by PayPal in 2021, and was Vice President of Sales at digital custody platform BitGo. Dr. Kogan's career spans more than 15 years in academia, industry and government. He received his PhD from Stanford with a specialization in applied cryptography and was awarded the "Best Young Researcher" prize at Eurocrypt 2018, the Theory of Cryptography Conference 2019, and Eurocrypt 2020. Volfman is an engineering manager with 20 years of experience in cybersecurity, serving as Vice President of R&D at Toka, was Chief Technology Officer and co-founder of an edtech startup, and a Director at Guardicore.
DATA SECURITY,PLATFORM SECURITY,SOFTWARE SECURITY
KnowBe4 | November 29, 2022
KnowBe4, the provider of the world's largest security awareness training and simulated phishing platform, today announced it is launching the new KnowBe4 Mobile Learner App to empower end users by introducing security awareness and compliance training on the go at no additional cost to customers, improving user engagement and strengthening security culture.
With a large majority of the world's population using smartphones today, mobile training revolutionizes the way people learn. This new app will enable end users to complete their security awareness and compliance training conveniently from their tablets or smartphones, giving them 24/7/365 access.
"The KnowBe4 Mobile Learner App is the first of its kind to launch in the security awareness and compliance training space, making it easier than ever to train users while subsequently strengthening an organization's security culture. "This new app will enable IT and security teams to improve engagement and completion rates for required training thanks to a seamless user experience. This will also help users to associate security with their personal devices, keeping it top of mind all the time rather than only when they are at work on their computers. We are making this substantial new capability available at no additional cost to all subscription levels as a show of our commitment to supporting our customers' security and human risk management objectives."
Stu Sjouwerman, CEO, KnowBe4
Based on subscription levels, KnowBe4 offers 100+ Mobile-First training modules that were designed specifically for mobile. The KnowBe4 Learner App supports push notifications for custom announcements, updates on assigned training as well as KnowBe4 newsletters.
KnowBe4, the provider of the world's largest security awareness training and simulated phishing platform, is used by more than 54,000 organizations around the globe. Founded by IT and data security specialist Stu Sjouwerman, KnowBe4 helps organizations address the human element of security by raising awareness about ransomware, CEO fraud and other social engineering tactics through a new-school approach to awareness training on security. Kevin Mitnick, an internationally recognized cybersecurity specialist and KnowBe4's Chief Hacking Officer, helped design the KnowBe4 training based on his well-documented social engineering tactics. Tens of thousands of organizations rely on KnowBe4 to mobilize their end users as their last line of defense.
DATA SECURITY, NETWORK THREAT DETECTION, PLATFORM SECURITY
Pathlock | September 27, 2022
Pathlock, the leading provider of application security and controls automation for critical business applications, today announced the acquisition of Grey Monarch, a UK-based specialist SAP Partner dedicated to SAP Process Automation. The acquisition will strengthen Pathlock's vision of providing the industry's most complete 360-degree platform for application security and controls automation for the SAP ecosystem.
Since 2008, Grey Monarch has developed expertise in SAP Security, Segregation of Duties, SAP Licence Optimization, SAP Background Processing Automation and Secure Managed File Transfer. With this acquisition, the SAP community will benefit from the very best SAP Process Automation advice, implementation skills, and software and training capabilities, improving levels of security, enhancing their users' experience and streamlining audit, compliance and control procedures.
"It's now more imperative than ever for organizations to utilize a holistic view of user access and privileges so they can be managed, monitored and controlled to ensure the maximum protection of data, business processes and intellectual property," said David Lloyd, Director and Co-Founder, Grey Monarch. "Combining Grey Monarch's capabilities with the Pathlock family of expertise, resources and product portfolio will provide our customers, existing and new, with an unsurpassed visibility into their business applications."
"We're thrilled to complete the acquisition of Grey Monarch. "We continue to see a strong demand for our globally recognized application security and controls automation solutions, and know that with Grey Monarch's specialization in SAP process automation we can continue to enable our global customers to revolutionize the way they secure their sensitive financial and customer data."
Piyush Pandey, CEO of Pathlock
In May 2022, Pathlock announced a $200M capital raise sponsored by Vertica Capital Partners alongside a merger with Appsian and Security Weaver and the acquisition of Belgium-based CSI Tools and Germany-based SAST SOLUTIONS. The company has successfully doubled in size in terms of revenue and employees and is now servicing over 1,400 customers across all major industries on a global scale with offices across the United States, Belgium, the UK, Germany, Israel and India.
Pathlock is the leader in application security and controls automation. With Pathlock, enterprises can manage all aspects of access governance via a single platform, across applications, including user provisioning, ongoing User Access Reviews, segregation of duties, control testing, and audit preparation. Today, many of the world's most respected, global 2000 companies rely on Pathlock to protect their critical digital assets from financial, operational, regulatory and security threats, ensure corporate compliance and improve performance. Our customers have saved millions in employee productivity, labor costs, audit fees and data loss prevention.
DATA SECURITY,ENTERPRISE IDENTITY,SOFTWARE SECURITY
Wib | November 08, 2022
Wib, the fast-growth cybersecurity startup pioneering a new era in API security, today announced a $16 million investment led by Koch Disruptive Technologies (KDT), the growth and venture arm of Koch Industries, Inc, with participation from Kmehin Ventures, Venture Israel, Techstars and existing investors. The investment will be used to enhance Wib's pioneering holistic API security platform and accelerate international growth as it expands operations across the Americas, UK and EMEA.
API security is one of the biggest challenges facing CIOs today. Traditional API security solutions are siloed and fragmented, leaving CIOs with a choice of multiple point products or bolt-on integrations to create a patchworked solution. This results in increased cost and complexity, reduced visibility and control, and greater exposure to risk.
Wib's holistic API security platform is the only solution to provide complete visibility across the entire API landscape, from code to production, helping unify software developers, cyber defenders, and CIOs around a single holistic view of their complete API domain. By delivering rigorous real-time inspection, management, and control at every stage of the API lifecycle, Wib can automate inventory and API change management; identify rogue, zombie and shadow APIs and analyse business risk and impact, helping organisations to reduce and harden their API attack surface.
"APIs have become the Achilles heel of cyber defenses and the number one threat vector for cyber-attacks. "APIs account for 91% of today's internet traffic with over 50% being invisible to business IT and security teams. These unknown, unmanaged, and unsecured APIs are creating massive blind spots for CIOs that expose critical business logic vulnerabilities and increase risk.
Gil Don, CEO and Co-Founder of Wib
"What's more, traditional and legacy web security approaches, like WAFs and API Gateways, were never designed to protect against modern logic-based vulnerabilities. The Wib platform has been purposely built for an API driven world creating a new category of API native security."
A recent report by industry research firm GigaOm, placed Wib as a "fast mover" in the "leaders" category, stating, "Wib is a new company but brings a strong enough offering to jump straight into the leaders category" and "Wib is a new entrant in this space, but it offers a comprehensive solution." Wib was also called out for its capability in "source code analysis with an eye toward API weaknesses is Wib's greatest strength." The report ranks Wib's API Runtime Protection, Monitoring and Reporting as exceptional in its focus and execution. This is a real testament to the Wib's innovative API security platform and approach.
Wib is pioneering a new era in API security with its industry first holistic API security platform. Providing continuous and complete visibility and control across the entire API ecosystem, Wib enables developers to code with confidence and security teams to secure with surety.