Gardicore raised $ 60 million to secure better servers
The Israeli company has raised $ 112 million so far from a number of funds, including 83North, Battery Ventures and Deutsche Telekom.
Guardicore, which develops software for both physical and cloud servers, has completed a $ 60 million third financing round, led by the Komra Capital Growth Fund.
Other investors participating in the round were Deutsche Telekom Capital, Caltech and Partech, as well as existing investors – including Battery Ventures, 83North and TPG. Another interesting investor in the company, which invested in previous rounds, is Ehud Barak. The current round brings the company’s total capital raising to $ 112 million.
Gardicor was founded in 2013 by entrepreneurs Pavel Gurevich, CEO of the company, Ariel Zeitlin and Dror Salai, with 150 employees, over 100 in Israel, 20 in the US and the rest in Europe and South America. The company intends to use the current funding to expand its staff in Israel and the US, and by the end of this year plans to employ more than 200 employees in total.
Among its customers are Fortune 500 and Fortune 100 companies, including Deutsche Bank, Comcast, Frontier Airlines and Intermountain Healthcare. The company does not disclose accurate data on its revenues, but at the end of 2018 it reported annual revenues of millions of dollars – a growth of 250% over the previous year. In the past three years, the company has maintained a similar annual growth rate.
The software developed by the company divides the organization’s server network into small segments, and inserts each group of segments into an isolated “bubble”. Thus, if one of the parts is compromised, the attacker can not spread throughout the entire network, and is limited to that bubble. In addition, this distribution allows organizations using Gardicor software to also use it to block unauthorized access to certain parts of the network.
“If you look at Gartner from 2010 to 2020, the market is growing rapidly from $ 50 billion to $ 130 billion,” Gurevich said in a conversation with “Globes.” Accordingly, investment in innovation in the field “Our new investors, and we, too, are interested in seeing us grow and take over as much of the market as possible, which is very significant and will take us far ahead.”
“Cyber security is a very hot and important area because it allows us to keep all of our data with the vendors we rely on, which allows us to do business online, consume media, and receive online services.I honestly think we are doing a good job because the amount of data Which are leaked to the Internet each year is really great, “Gurevich explained.
Where does your main competition come from and how do you deal with it?
“There are a lot of cyber companies in Israel, but we are in a very small group of companies that invest in cloud and server environments, so our main competition is from abroad, with big US companies such as VMware and Cisco. Customers buy us and not them because we give them a product that is very convenient and easy to use on the one hand, and on the other hand it works both in the cloud and in the physical servers.