CyberX Raised $18 Million to protect IIoT and SCADA Networks
28 February, 2018
CyberX provides industrial cybersecurity platform for continuous, non-invasive risk assessment and M2M anomaly detection inside ICS and SCADA
CyberX from Herzliya, Israel, has closed $18 million in Series B funding, bringing total investment to date to $30 million. The round was led by Norwest Venture Partners, early investors in cybersecurity leaders FireEye and Fireglass (acquired by Symantec). CyberX’s previous investors, including Glilot Capital Partners, Flint Capital, ff Venture Capital, and OurCrowd, also participated in the round.
CyberX provides industrial cybersecurity platform for continuous, non-invasive risk assessment and M2M anomaly detection inside ICS and SCADA systems. The company was founded in 2013 by Omer Schneider and Nir Giller, both veterans of an elite IDF cybersecurity unit charged with securing Israel’s national critical infrastructure. CyberX has successfully deployed its continuous ICS threat monitoring and risk mitigation platform in Global 2000 enterprises across critical infrastructures, including energy & utilities, pharmaceuticals, chemicals, oil & gas, and manufacturing.
“There is a growing need in many enterprises to connect their IIoT and ICS networks to corporate IT networks,” said Dror Nahumi, general partner at Norwest Venture Partners. “This trend creates a new security risk which requires a modern, IIoT-optimized, security solution.” After launching its innovative platform in 2014, CyberX has enjoyed strong market success, with installations across six continents. It will use the additional funding to drive international growth and to expand its ICS product development.
Sensing Industrial Networks
CyberX’ platform, XSense, acts as an invisible layer that covers the operational technology network, modeling it as a state machine. Once plugged in, XSense commences the Collection stage: It performs Deep Packet Inspection and extracts the devices of the network, and the different patterns that are used and operational processes. Than it begins the analysis stage: XSense constructs the network’s State Machine during learning mode and once in operational mode, it knows whenever the Network is in each particular state.
Once a new state is introduced, a classification process takes place. Based on multiple signals that are fed into the XSense algorithm, during the Collection and Analysis stages, XSense determines whether the new state is malicious or operational. Than the a definition of a new state as malicious or operational generates an alert that is delivered in real-time to the network operator.
CyberX is a member of the IBM Security App Exchange Community and has partnered with premier cybersecurity solution providers and MSSPs worldwide including Deutsche-Telekom/T-Systems.
For more information: cyberX-labs.com