Total Funding Reaches More Than $12M Only Seven Months After General Availability; Company Expanding to US and EMEA
Tel Aviv – November 20, 2018 – Alcide, provider of the first Microservices Firewall for application networking security, has raised $7M in Series A funding from new investor CE Ventures alongside existing investors Intel Capital and Elron.
The funding, announced only seven months after the Alcide cloud-native security platform’s general availability and the company’s selection as a Gartner Cool Vendor, will be used to support a go-to-market strategy and a significant expansion into the US and EMEA markets.
Ben Weiss, partner at CE Ventures, will join Alcide’s board as part of the round.
The Alcide cloud-native platform secures the plethora of cloud architectures common in today’s cloud-native world and composed of different apps, architecture and infrastructure – each with its own unique needs, requirements and security protocols. The Alcide Microservices Firewall brings best-of-breed application-aware micro-segmentation, always on threat intelligence, powered by Alcide’s embedded policies enforcement capabilities.
The Alcide machine-learning-driven Firewall supports developers and security teams with a unified, automated and simple way to manage cross-cloud security, empowering them to define, apply and enforce embedded security policies across clouds for continuous governance, risk and trust assessment.
With Alcide embedded firewall policies deployed, developers are now able to whitelist their security requirements at design time and automatically enforce them at runtime.
“We are excited to support the Alcide team as they address the current market need for a new kind of a cloud firewall,” said Ben Weiss, partner at CE Ventures. “Alcide’s Microservices Firewall provides discovery of infrastructure and application dependencies, as well as difficult-to-obtain enforcement of unified security controls, wrapped up in a simplified security platform.”
“As cloud adoption continues to grow rapidly, businesses are faced with new security blind spots inherent in distributed environments,” said Anthony Lin, Intel Capital vice president and managing director of Intel Capital International. “Alcide’s unified security solution helps to address these risks by enabling businesses to uniformly secure and control their environments – regardless of their cloud provider, workload or third-party services.”
Today’s announcement builds on major company momentum for Alcide over the past 10 months, starting with an initial seed round of $5.2M in December 2017. Alcide then announced the general availability of its security platform in April 2018, was named a Gartner Cool Vendor for Cloud Security in May and released a product update that included AWS Lambda support and availability on AWS marketplace and Azure marketplace.
“We built Alcide as a security solution that can enforce unique app-based security policies across all services, uniformly and automatically, but can also address the real need of security and DevOps teams to have one consolidated and comprehensive approach that includes the network, applications and external services,” said Ranny Nachmias, CEO and co-founder of Alcide. “We’re excited to use this funding to bring our Microservices Firewall to new markets and expand our sales and marketing teams, on the leading edge of the cloud-security revolution.”
Alcide has also expanded its presence into the US and EMEA markets, with new hires and channels that will support business development.
Alcide will be presenting its solution at AWS re:Invent MPSC Experience DevSecOps Hub in Las Vegas on November 27.
Alcide is a cloud-native security leader with the mission to empower DevSecOps and security teams, to manage application and networking security though the intelligent automation of security policies applied uniformly, regardless of the workload and infrastructure.
The Alcide cloud-native security platform provides a single view into distributed and cloud-native environments, while the Microservices Firewall enables application-aware security controls for cloud infrastructure, workloads and external service mesh against different attack scenarios, including malicious internal activity, lateral movement and data exfiltration.
For more information please visit www.alcide.io
About CE Ventures
Established in 2015, CE Ventures is a venture capital fund that provides end-to-end support to its portfolio companies, leveraging its extensive relationships in Asia. CE Ventures has a strategic investment partnership with CreditEase, a world leading FinTech company headquartered in China, specializing in inclusive finance and wealth management, in addition to payment technology, marketplace lending, crowdfunding, robo-advisory, insurance technology and blockchain products and services.
About Intel Capital
Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, data center and cloud, 5G, next-generation compute, and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US $12.3 billion in more than 1,540 companies worldwide, and more than 660 portfolio companies have gone public or participated in a merger. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
Elron is a leading early-stage Israeli investments company committed to turning promising ideas into global industry leaders, with a proven track record of investments and successful M&As worldwide. Since its establishment in 1962, Elron has been at the forefront of Israeli innovation, both as founders and as early investors in companies such as Medingo, Given Imaging Cloudyn and Secdo. At present Elron focuses on Cyber security and IT while continuing to invest in groundbreaking Medical devices.