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Industrial Cybersecurity Firm CyberX Raises $9 Million

Industrial cybersecurity startup CyberX announced today that it has raised $9 million in new funding to help expand its business and solutions designed to protect the Industrial IoT.

Founded in 2013 by Omer Schneider and Nir Giller, CyberX offers a platform that continuously monitors networks and collects real-time data to help detect abnormal or potentially malicious activity.

Dubbed XSense, the platform was developed to easily connect to an existing setup and act as an invisible layer that models operational technology (OT) networks using what it calls “Industrial Finite State Machine (IFSM) technology.”

The company's technology is already being used by dozens of enterprises across a range of industries, including energy, oil and gas, transportation, manufacturing and pharmaceuticals, the company told SecurityWeek.

Exploiting PLCs at ICS Cyber Security Conference

 

Nir Giller and David Atch from CyberX Present at SecurityWeek's ICS Cyber Security Conference on Oct. 28, 2015.

“Using our dedicated Industrial IoT detection technology, IFSM, we have discovered multiple attacks, as well as critical zero-day vulnerabilities in industrial equipment,” said Nir Giller, CTO & Co-founder of CyberX. 

Last October at SecurityWeek’s ICS Cyber Security Conference, Giller and David Atch (also from CyberX) disclosed details of a zero-day denial-of-service (DoS) vulnerability in Rockwell Automation PLCs that could shut down OT networks. 

The round was led by Flint Capital, and included existing investors Glilot Capital Partners, Swarth Group, GlenRock, along with new investors ff Venture Capital and additional angel investors.

Last summer the company launched an Industrial Threat Intelligence Platform designed to help utilities identify cyber security threats in operational networks.

The company announced a $2 million funding round in June 2014, and has also received support from Palo Alto, California-based accelerator UpWest Labs.  

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For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.