UPDATED 07:00 EDT / FEBRUARY 10 2016

NEWS

HPE joins $8M funding round into Israeli security startup Hexadite

Hewlett Packard Enterprise has been unusually active in the venture capital scene since separating from its former consumer electronics business last November. A month ago, the company backed storage startup Scality Inc. to the tune of $10 million, and today it’s been named among the contributors to a $8 million investment in another up-and-coming player called Hexadite Ltd.

The Tel Aviv-based firm offers an automated incident response system designed to elevate the challenge of distinguishing real threats from the numerous false alarms that traditional network protection software tends to generate. The new infrastructure that organizations are deploying to keep up with the growth in their data troves is only adding more fuel to the fire, making it less and less feasible for administrators to investigate every security alert that arrives on their desks.

Hexadite promises to reduce the risk of breaches slipping through the cracks with homegrown machine learning algorithms that can automatically determine whether a security alert is worth pursuing further. After identifying a compromise, the software notifies the administrative team and takes remedial action in order to try and contain the threat while its human operators come up with a solution. The startup says that its approach can reduce the time it takes organizations to plug data leaks by up to 95 percent and thereby significantly reducing the window of opportunity for hackers.

Besides Hewlett Packard Enterprise, Hexadite’s value proposition has also managed to win over Ten Eleven Ventures, a Boston-based private equity fund that focuses exclusively on the security space. The startup’s new funding round also saw the participation of existing backer YL Ventures, bumping its total past the $10 million mark. The capital will be used to hire more developers and expand international sales operations.

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