Israel based Secret Double Octopus lands $6 mln Series A
Secret Double Octopus, the pioneer of keyless multi-shield connectivity and authentication, announced today that it has closed a $6 million Series A funding round. The financing round included Jerusalem Venture Partners, Liberty Media’s Israel Venture Fund, Iris Capital, Benhamou Global Ventures and angel investor Yaniv Tal. The investment will be used to expand R&D efforts and accelerate growth in key markets, including the US and Europe.
Based on Secret Sharing algorithms, originally developed to protect nuclear launch codes, Secret Double Octopus has developed the only solution on the market that applies keyless authentication and data-in-motion protection for cloud, mobile, and IoT. The Company’s technology prevents cyber attackers from accessing enough critical information to be useful for attacks such as brute force, man-in-the-middle, PKI manipulation, key theft and certificate authority weaknesses.
“Many security measures, such as SMS verifications, pseudo-biometric markers, behavioral markers, one-time-passwords and tokens, employ only a single layer of protection, making them vulnerable to attack, while also creating unnecessary friction for the user,” said Raz Rafaeli, CEO of Secret Double Octopus. “Our multi-shield approach to connectivity, specifically as it relates to authentication, provides customers with both topflight security and a seamless user experience which is critical when countering the increasing levels of sophistication today’s hackers demonstrate. We are happy that our new investors, representing key strategic partners, share our vision and look forward to expanding our presence in multiple markets.”
Founded in Israel by a seasoned leadership team with more than 100 years’ combined academic and industry experience across networking, information security, and computer science, Secret Double Octopus was recently designated a Gartner Cool Vendor.
“It is seldom the case where security solutions ease user experience,” stated Yoav Tzruya, Partner at JVP. “Secret Double Octopus offers the best of both worlds – theoretically secure technology, immune to all computational challenges and quantum attacks, seamless user experience, and the ability to deploy in conjunction with all existing solutions.”
“Secret Double Octopus is improving network security by offering keyless authentication and post-computational (“quantum-safe”) data-in-motion protection,” said Yaron Rosenbaum, Partner at Iris Capital. “With the imminent cyber security risks presented by IoT and Quantum Computing, we believe Secret Double Octopus is uniquely positioned to address a very large market potential, with its unique set of products based on strong and well established scientific principles. Iris Capital is excited to be a part of Secret Double Octopus’s journey, and will actively support the Company by leveraging our 30 years of experience and network of connections in Europe and around the world.”
About Secret Double Octopus
Secret Double Octopus has developed the world’s only keyless multi-shield connectivity technology to protect identity and data across cloud, mobile and IoT environments. Based on Secret Sharing algorithms, originally developed to protect nuclear launch codes, Secret Double Octopus’ technology prevents cyber attackers from accessing enough critical information to be useful for attacks, eliminating brute force, man-in-the-middle, PKI manipulation, key theft and certificate authority weaknesses.
Source: Press Release