UPDATED 09:00 EDT / JULY 01 2019

SECURITY

Deception-based cybersecurity startup TrapX raises $18M

Deception-based cybersecurity startup TrapX Security Inc. said today it has raised $18 million in new funding to expand into new countries and markets.

The Series C round was led by Ibex Investors and included previous investors Strategic Cyber Ventures, Liberty Israel Venture Fund, Intel Capital, BRM Group and Opus Capital. TrapX previously raised venture capital in 2015.

Founded in 2012, TrapX offers a deception-based cybersecurity defense platform that it claims can rapidly detect, analyze and defend in real time against “zero-day” or previously undiscovered threats as well as advanced persistent threat attacks. The company’s platform is said to allow security teams to move to a proactive security posture, changing the economics of cyberattacks by shifting the cost to the attacker.

TrapX’s DeceptionGrid product does what the name hints at, deceiving would-be attackers with decoys. By imitating a client’s true network assets, it lures hackers into attacking fake versions of a network, both deflecting from the actual network while also acting as a way to ascertain flaws in the real network. TrapX claims hundreds or thousands of traps can be deployed without much effort.

The company’s customers include global 2000 commercial and government customers in sectors including defense, healthcare, finance, energy, consumer products and other key industries. TrapX also operates as a complementary service to major cybersecurity firms, with integration support for services from Check Point Software Technologies Ltd., Cylance Inc. and others.

“Global expansion and continued R&D innovation will be the catalyst for highly regulated industries and those plagued with legacy infrastructure to continue turning to TrapX to detect and deceive today’s cybercriminals,” Moshe Ben-Simon, chief executive officer of TrapX Security, said in a statement.

TrapX is based in San Francisco but has roots in Israel, with Moshe Ben-Simon previously working for the Israel Defense Force in its Network and Security Department.

Including the new round, TrapX has raised $47.9 million.

Image: TrapX

A message from John Furrier, co-founder of SiliconANGLE:

Show your support for our mission by joining our Cube Club and Cube Event Community of experts. Join the community that includes Amazon Web Services and Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger and many more luminaries and experts.

Join Our Community 

Click here to join the free and open Startup Showcase event.

“TheCUBE is part of re:Invent, you know, you guys really are a part of the event and we really appreciate your coming here and I know people appreciate the content you create as well” – Andy Jassy

We really want to hear from you, and we’re looking forward to seeing you at the event and in theCUBE Club.

Click here to join the free and open Startup Showcase event.