TrapX Security which operates in deceptive technologies announced an $ 18 million financing round

TrapX Security, a leader in the global market for deceptive technologies, announced an $ 18 million financing round led by Ibex Investors, with the participation of existing investors: BRM, Opus Capital, Intel Capital, Liberty Israel Venture Fund and Strategic Cyber ​​Ventures. The round is intended to increase the Company's presence in new markets and sectors and to increase R & D activity.
Founded in 2012, TrapX currently has 60 employees. The company's development center is located in Tel Aviv and has additional activities in Silicon Valley and around the world. TrapX pioneered the deception approach in the cyber world and was the first to sink the concept of "deception technology". Ryan Abrams, President of Ibex, which specializes in collaborating with the world's most innovative companies, said TrapX is seen in the cyber market as a potentially phenomenal company. "The company has a rare ability to provide complete visibility into networks and environments where other security tools can not be deployed, for technical or financial reasons, such as distributed networks, IoT networks, and SCADA." Abrams, who is expected to join TrapX's board of directors, added, "Ibex was impressed by the company's ability to lead, over time, the market for identifying and monitoring cyber threats using innovative technology at the cutting edge."
"The current financing round will enable us to make additional investments in R & D and penetrate new markets and thus move the company forward. These two investment channels - R & D and new markets - will enable us to provide an appropriate response to high-regulatory industries and to infrastructure-based sectors that seek to protect themselves from cyber-crime, "said Moshe Ben Simon, CEO of TrapX Security.
The current round joins the company's positive momentum with significant growth in the number of customers, as well as the number of partnerships, including collaborations with leading players such as Check Point and Forescout. Last month, the company released an updated version of its flagship DisceptionGrid platform - allowing customers to deploy a virtual army of artificial users to expose cyber attackers.