TechNation: Stealth Startup Fireglass Raises $20 Million for Cyber Security

Forum launched to help Arab engineers network; Seebo raises $8.5 million for Inter of things technology; Netanyahu promises that cyber export controls will be minimal.

Send in e-mailSend in e-mail
Send in e-mailSend in e-mail
Cybersecurity experts are nervous following two potential cyber attacks in the space of three days.
Cybersecurity experts are nervous following two potential cyber attacks in the space of three days.Credit: Reuters

Stealth startup Fireglass raises $20 million for cyber security

Fireglass, a U.S.-Israeli cyber security startup still in stealth mode, said Tuesday it had raised a $20 million in a funding round led by a group of venture capital funds and veterans of Israelis cyber scene. 

The group, the company said, was led by Norwest Venture Partners, Lightspeed Venture Partners and Singtel Innov8 as well as the serial cyber entrepreneurs Mickey Boodaei and Rakesh Loonkar, who co-founded Trusteer, among other companies.

Fireglass, which said it would unveiling its first product in the current quarter, said it would the funding to expand research and development as well as add to its sales, marketing and support teams in North America and Europe.

CEO Guy Guzner and Dan Amiga, its chief technology officer, founded the company in 2014 after leaving executive positions formerly at Check Point Software Technologies and Schneider-Electric, respectively. The company is headquartered in New York, with research and development in Israel. (TheMarker Staff)

Forum launched to help Arab engineers network

A form for Israeli Arab engineers that aims to help leverage their skills with better networking held its first meeting this week at Microsoft’s Haifa offices. The new forum, a joint venture between ITWorks, a nonprofit promoting workplace diversity, and a Joint Israel project called Kif Lachal, hopes to use networking events to boost the number of Arabs working in Israeli high-tech, where their presence is far below their share of Israel’s population.

The first forum on Sunday drew about 80 participants, including a handful of senior executives but mostly younger engineers and developers just starting on the careers. Representatives from several Israeli tech companies were on hand as well.

“Personal connections are an important part of the game in an industry where 70% of all hires are done through ‘a friend brings a friend,” said Si Avivi, an ITWorks vice president. “This new tools should over time become an essential element in improving the current situation. (Janan Bsoul)

Seebo raises $8.5 million for Internet of things technology

Seebo, whose technology helps companies to adapt their products to the Internet of things, said on Tuesday it secured $8.5 million in a funding round led by a new investors, Carmel Ventures, and an existing one, TPY Capital.

Formed in 2012 by the brothers Lior and Liran Akiva, Seebo now employs 40 people in Tel Aviv and Palo Alto, California, and said it would use the proceeds to hire 25 more people and make improvements in its technology. Seebo ‘s tools enable companies to develop and manufacture toys and children’s products, medical equipment, sports gear and baby products among others with IoT features.

“Today the process of bringing smart products to the market is long, expensive and complicated Seebo enables companies to shorten the process and easily and quickly turn their products into smart one,” said CEO Lior Akiva. The latest round brings Seebo’s total funding to $14 million. (Amitai Ziv)

Netanyahu promises that cyber export controls will be minimal

Prime Minister Benjamin Netanyahu reassured Israel’s tech companies on Tuesday he would keep any export limitations imposed on Israel’s flourishing cyber security sector to a minimum.

“I don’t want you to fall on your face as you’re beginning to develop something,” added Netanyahu.

Israel’s cyber industry has been meeting with officials out of concern that a government proposal to impose export controls on technologies that could potentially be used to carry out serious cyber attacks could impede exports, which last year reached $3.5 billion.

“My goal is to enable that growth, that productivity, while maintaining a very narrow band of interest of national security,” Netanyahu told the Cybertech conference in Tel Aviv. (Reuters)