May 3, 2024 at 12:15PM
Israeli startup LayerX Security has secured $25 million in Series A funding from Glilot+ and Dell Technologies Capital, bringing its total funding to $34 million. The Tel Aviv-based company offers a browser extension that enhances web security for organizations, using AI to detect and mitigate various threats. The funds will be used for talent acquisition and market expansion.
Key takeaways from the meeting notes:
– LayerX Security, an Israeli startup, has secured $25 million in a Series A funding round from investors Glilot+ and Dell Technologies Capital, bringing their total raised capital to $34 million.
– The company was founded in 2022 and offers secure web browsing software that transforms browsers into secure workspaces for both managed and unmanaged devices.
– The software, a browser extension, aids in safeguarding data, identities, devices, and SaaS applications from various threats like account takeover, data leaks, malicious extensions, and phishing.
– LayerX’s extension is compatible with popular browsers such as Chrome, Edge, and Firefox, providing security teams with real-time threat visibility and blocking capabilities.
– The company utilizes AI to monitor browser code, analyze user behavior, and protect against both intentional and unintentional threats.
– The funding will be allocated towards hiring new talent and expanding market presence.
– Despite competitive pressures from tech giants like Microsoft and Google, LayerX’s funding news arrives shortly after Island, a larger rival, secured a substantial $175 million investment.
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