Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Application Security

Blockchain Security Startup Valid Network Raises $8 Million in Seed Round

Blockchain cybersecurity startup Valid Network today announced raising $8 million in a seed funding round, bringing the total raised by the company to $10 million.

Blockchain cybersecurity startup Valid Network today announced raising $8 million in a seed funding round, bringing the total raised by the company to $10 million.

Using proprietary technology, the Israel-based company aims at providing organizations with the visibility and control needed to keep track of all their decentralized applications, and ensure the compliance and security of their software.

Valid plans to use the new funds to fuel research and development, increase its team in Israel, and also open an office in New York City, to expand its business in the United States. Mainly focused on development to date, the company is now ready to seek partnerships.

The company aims to tackle the security and assurance challenges that emerge from the use of decentralized applications through which data is shared. Enterprise blockchain technology, Valid claims, provides organizations with privacy, trust, and audit ability when implementing new services.

“We built Valid Network on the vision that blockchain-based technologies will open a whole new world of possibilities for businesses globally, unleashing new efficiencies and ways of working,” stated co-founder and CEO Kfir Nissan.

“Valid Network will enable safer and faster adoption of these revolutionary technologies for the benefit of organizations and consumers worldwide. We are thankful for the vote of confidence by our investors, and plan to work hard to fulfill our ambitious plans and make Valid Network into a sustainable, thriving company that brings tangible value to its customers,” Nissan added.

U.S.-based cybersecurity venture capital firm Ten Eleven Ventures led the seed round. Previous investor Jerusalem Venture Partners (JVP) also participated.

Related: 1touch.io Closes $14 Million Series A Funding Round

Related: CloudKnox Security Raises $12 Million in Funding

Related: Intezer Raises $15 Million in Series B Funding

Related: Data Governance Startup Okera Raises $15 Million in Series B Funding

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

Click to comment

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Management & Strategy

Industry professionals comment on the recent disruption of the Hive ransomware operation and its hacking by law enforcement.

Funding/M&A

Tenable has launched a $25 million venture fund to place bets on early-stage startups in the exposure management space.

Management & Strategy

Tens of cybersecurity companies have announced cutting staff over the past year, in some cases significant portions of their global workforce.

Application Security

Drupal released updates that resolve four vulnerabilities in Drupal core and three plugins.

Application Security

A CSRF vulnerability in the source control management (SCM) service Kudu could be exploited to achieve remote code execution in multiple Azure services.

Management & Strategy

Microsoft making a multiyear, multibillion dollar investment in the artificial intelligence startup OpenAI, maker of ChatGPT and other tools.

Application Security

PayPal is alerting roughly 35,000 individuals that their accounts have been targeted in a credential stuffing campaign.