Zero Networks – an Israel-based cybersecurity company that is a leading provider of zero trust identity and network security solutions – recently announced it raised $20 million in Series B funding following a five-fold increase in its revenue, bringing its total raised capital to $45 million.
U.S. Venture Partners (USVP) led the round, with notable strategic investor Dmitri Alperovitch, co-founder and former Chief Technology Officer of CrowdStrike, also participating. Existing investors Venrock, F2 Venture Capital, and Pico Venture Partners also joined the round.
The funding round will be utilized to recruit development, marketing, and sales personnel, supporting Zero Networks’ hypergrowth.
Zero Networks launched in 2019 and is led by Benny Lakunishok, the CEO, and Amir Frankel, the CTO. And the company is tackling one of the most complex problems in cybersecurity and how to prevent attackers from moving laterally within the organizational network to exfiltrate data or launch ransomware attacks.
The existing segmentation solutions that address this problem are complex, labor intensive, and usually do not provide comprehensive protection. But Zero Networks created a fully automated SaaS platform that learns all network traffic and creates granular security policies that restrict user and machine access to only strictly necessary assets. Accessing sensitive protocols that are often used by attackers to move laterally is enabled only after users undergo multi-factor authentication.
Zero Networks enables organizations to connect remote employees securely and third-parties to their network with zero trust principles and maximum network performance.
Zero Networks has a diverse roster of customers in the United States, Europe, and the Middle East, including global commercial and investment banks, major US retailers, large manufacturing corporations, a global container shipping company, hospitals, law offices, construction, telecom, and public sector institutions.
KEY QUOTES:
“We have significantly exceeded our own growth expectations, and are thrilled to have received this investment from USVP that will allow us to scale our team earlier. It is a testament to our team’s hard work and exceptional commitment to our customers and partners. We are honored to have such a distinguished list of security leaders join our journey.”
— Benny Lakunishok, CEO of Zero Networks
“There are only two really huge markets in cybersecurity. As co-founder of CrowdStrike, I am privileged to have played a part in disrupting one of them – Endpoint Security. Now, I’m excited to help Zero Networks revolutionize the other huge market that is ripe for disruption – Network Security.”
— Dmitri Alperovitch, who participated in the funding round
“USVP has a proven track record of investing in the most successful cybersecurity startups in Israel, and we are thrilled that Zero Networks is the latest addition to our portfolio. We see immense potential in the company’s approach to network security – their impressive growth this year and the satisfaction of their customers underscore the impact they are making in the cybersecurity landscape.”
— Dafina Toncheva, General Partner at USVP
