Participated · Series A · Jul 2018

Xage Security provides zero trust security products and services that secure, manage, and transform digital operations across operational technology (OT), information technology (IT), and cloud environments. Its product suite includes identity-based access management, remote access, and zero trust data exchange, all powered by the Xage Fabric, alongside professional cybersecurity design, implementation, and support services. Xage’s Cybersecurity Mesh is designed to bring zero trust access management and data security to complex environments without overhauling existing physical or digital infrastructure. The company serves critical infrastructure sectors including energy, manufacturing, healthcare, and government. Xage plans to use the new funds to further R&D investments and expand go-to-market operations, and is pursuing global expansion including a new Singapore office to support APAC customers after recent Middle East expansion. The company is based in Palo Alto, California. Xage is a zero trust cybersecurity company whose core product is the Xage Fabric. The Xage Fabric accelerates and simplifies the way enterprises secure, manage and transform digital operations across OT, IT, and cloud. Xage solutions include Identity & Access Management (IAM), remote access, and dynamic data security, all powered by the Xage Fabric. The company announced investment from Chevron Technology Ventures to further accelerate the use of zero trust in protecting energy and other critical infrastructure. The additional capital extends Xage's Series B venture capital financing for a second time in the last two months, bringing total financing to-date to $62M. Xage is based in Palo Alto, CA. Xage provides a patented Xage Fabric that brings a zero-trust security model across operational technology (OT), IT, and cloud environments, offering identity & access management, remote access, and dynamic data security. The Fabric overlays machines, applications, and data points to impose granular control and block attacks in real-world operations. Customers in energy, defense, utilities, manufacturing, and logistics have more than doubled in the past year, and two-thirds are accelerating rollouts to meet TSA and other government mandates. Customers include top five energy companies globally and top five U.S. pipeline operators. Partners have increased 16x, and the company expects bookings to grow 7x in 2022. Xage announced a $6M Series B top-up and will use the funds to expand go-to-market operations to meet growing demand from critical infrastructure organizations globally. Xage builds a software "fabric" — a mesh of nodes that overlays industrial operations to provide granular control of digital interactions and zero-trust protection spanning operations, IT and the cloud. The solution leverages a distributed ledger/blockchain organized in nodes to avoid single points of failure and limit the impact of attacks. It targets older, brittle industrial infrastructure including oil and gas pipelines, water supplies and electrical grids. The company says demand has risen amid increasing ransomware attacks, government regulation and incidents such as last year’s Florida water supply attack. To support rollouts and deployments Xage is hiring aggressively: it had over 40 employees at the time of the article and expected to be close to 90 by the end of 2022, and plans a hybrid work approach. Financially, Xage announced a $30 million Series B and has raised $54 million in total to date. Xage Security provides a blockchain-protected security platform for the Industrial Internet of Things (IIoT) that distributes authentication and private data across device networks. The platform enables any-to-any communication, secures access to existing industrial systems, and supports continuous edge-computing operations despite irregular connectivity. Its architecture is designed to strengthen as more devices join the network. Customers include leaders across energy, utilities, transportation, and manufacturing. The company is led by CEO Duncan Greatwood and recently added Norman Thorlakson as SVP of Sales and Business Development to expand its customer portfolio. Funding announced will support continued growth and deployment of distributed IIoT across energy, renewables, water, wind, and other sectors.

Participated · Equity · Mar 2018

BioCatch delivers behavioral biometrics by analyzing human-device interactions to protect users and financial systems from fraud and money laundering. Led by CEO Gadi Mazor and founded in 2011, the company is based in Tel Aviv, Israel. BioCatch reports over a decade of data-analysis experience and holds more than 60 patents. Its stated mission is to unlock the power of behavior and deliver actionable insights to create a digital world where identity, trust, and ease co-exist. The company says it continues to innovate to solve future problems. Financially, BioCatch has raised around $70M in the most recent financing and has raised $253M in total to date. BioCatch develops behavioral biometrics that analyze an online user's physical and cognitive digital behavior to protect users and their assets without collecting personally identifiable information. Its continuous-authentication products flag risky digital behavior and address onboarding fraud (stolen or synthetic identities), account takeovers, and sophisticated social-engineering scams. The company reports more than 150 million behavior profiles, tens of billions of transactions, and over 50 global patents accumulated since its founding in 2011. Customers around the globe leverage BioCatch's insights to fight fraud, drive digital transformation, and accelerate business growth. BioCatch has formed a Client Innovation Board with major financial institutions to develop and scale behavior-based solutions and industry-wide anti-fraud capabilities. The company recently expanded its financing as part of its ongoing Series C activity, bringing total capital raised to $168 million. BioCatch provides behavioral biometrics that analyze physical and cognitive digital interactions to protect online users and their data. The company passively monitors sessions for continuous authentication without collecting PII and flags anomalies such as stolen or synthetic identities at onboarding, account takeovers, and social engineering scams. It has compiled more than 150 million privacy-protected behavioral profiles and analyzes over 1 billion digital sessions per month in real time. BioCatch is deployed at more than 40 major global banks and other financial institutions worldwide and holds over 50 global patents. Founded in 2011 and operating out of New York & Tel Aviv, Israel, the company grew annual recurring revenues by 150% in 2019 and was on pace for similar growth in 2020. The company recently raised $145 million in a Series C. BioCatch develops behavioral biometric authentication and threat-detection technology that collects and analyzes more than 500 cognitive parameters to generate unique user profiles. Once installed on a bank's website or app, the technology uses those behavioral profiles to authenticate users and detect or prevent fraud, including phishing attacks and bots. Founded in 2011, the company highlights a portfolio of more than 56 granted or pending patents and has a recently appointed CEO, Howard Edelstein. BioCatch says it has focused on blue-chip customers, mostly large banks, and plans to broaden into adjoining sectors such as insurance, cryptocurrency, P2P payments, healthcare and government. The startup will invest in its product range, beginning with fraud detection during account opening, enabled by its accumulated behavioral data. Management cites rising market awareness and increased competition in behavioral biometrics over the past 24 months as a driver for the raise. BioCatch offers cloud-based behavioral authentication and threat-detection technology that analyzes over 400 bio-behavioral, cognitive and physiological parameters to create unique user profiles. Its platform integrates with existing security systems and is used by banks and eCommerce sites to reduce friction on risky transactions and protect against threats such as account takeovers, Man-in-the-Browser malware and remote access (RAT) attacks. The company also markets an enterprise tool to improve employee authentication experiences and safeguard access to critical IT assets. Led by CEO Benny Rosenbaum, BioCatch is headquartered in Boston, MA and currently employs 20 team members. The company completed a $10M financing and plans to use the funds to expand R&D and continue growth in key markets including the U.S. and Europe.

Participated · Series A · Nov 2017

SCADAfence Ltd. is an Israeli-based startup that provides an OT & IoT cybersecurity platform called the “SCADAfence Platform” and a dedicated GRC product, the “Governance Portal.” The SCADAfence Platform automatically recognizes and visualizes devices connected to industrial networks and can reveal network vulnerabilities and threats. It detects malware intrusions, unauthorized operations, and shadow IoT threats from devices connected without formal authorization. Mitsubishi Electric’s ME Innovation Fund has invested in SCADAfence, and Mitsubishi Electric will work with the company to accelerate strengthening its OT security platform for the manufacturing industry. The partners aim to develop a safe, secure product line that complies with international standards such as IEC 62443 and other regulations. CEO Elad Ben Meir said the company will leverage its OT & IoT cybersecurity experience and extensive knowledge of stable industrial system operations to deliver solutions to customers. SCADAfence provides a full suite of industrial cybersecurity products that deliver proactive security and visibility across large‑scale OT and IoT networks. Its platform covers network monitoring, asset discovery, governance, remote access, and IoT device security, servicing complex environments including the largest manufacturing facility in Europe. The company serves customers across multiple industries—manufacturing, water treatment, oil & gas, pharmaceuticals, chemicals, and building management systems—and counts Honda, Murata, Vestel, Mitsui Fudosan, and Taro Pharmaceuticals among its clients. Leadership includes CEO Elad Ben‑Meir and newly appointed CRO Gordon Boyce. SCADAfence operates across multiple global offices (New York City, Munich, Ramat Gan, and Tokyo) and focuses on expanding worldwide operations. It plans to use recent funding to broaden industry reach and strengthen its OT & IoT cybersecurity solution set. SCADAfence develops cybersecurity tools that provide real-time detection and monitoring for SCADA (supervisory control and data acquisition) industrial networks. Its solutions target sectors such as manufacturing, pharmaceuticals, and automotive, where networks were not originally designed with security in mind. The company emphasizes passive, continuous monitoring to avoid adding operational risk, a point highlighted by CTO Ofer Shaked. Rising connectivity from industrial-scale IoT and Industry 4.0 increases exposure to threats like process disruption, ransomware, and IP theft; the article cites Maersk's reported $300 million loss from cyber-attacks as an example of potential impact. SCADAfence raised $10 million in a Series A and will use the funds to grow its Tel Aviv R&D center and expand business operations in Europe, North America, and Asia. The company presents its offering as a way for industrial firms to improve security posture without introducing additional operational risk.

Participated · Seed · Oct 2017

GridRaster delivers a cloud-based XR platform that enables high-quality AR/VR/MR experiences on mobile devices using distributed edge computing, low-latency remote rendering and 3D vision-based AI. The company works with manufacturers and enterprises in aerospace, defense, automotive and telecommunications. It has completed several customer pilot programs and is deploying solutions in production settings. GridRaster plans to expedite product development and enhance customer support to scale adoption in key markets. The company recently closed additional financing to support those efforts. GridRaster is headquartered in Mountain View, Calif. GridRaster Inc. raised $2 million in a seed funding round. The round involved a group of venture capital firms, including Exfinity Ventures, Lumia Capital, Pipeline Capital, NexStar Partners, Unshackled Ventures and Explorer Group. The article identifies the company in India. No product description, operating metrics, or plans were disclosed in the article. Details on instrument structure beyond 'seed' and use of proceeds were not provided.

Participated · Series C · Apr 2016

Founded in 2010 and based in San Jose, CA, Vasona Networks builds platforms that improve mobile broadband experiences for global mobile network operators. Its SmartAIR™1000 edge application controller addresses congestion conditions in real time, while the SmartVISION™ analysis suite offers visibility into application activity within each network cell. The company recently introduced the SmartAIR Edge Services Platform to virtualize existing functionality and to help reduce stalls in streaming video by improving communications between content providers and operators. Vasona works with operators to manage capacity, resources and edge intelligence across networks. Led by CEO Biren Sood, the company plans to use new funding to expand international deployments and increase research and development. To date the company has raised $48m in total. Founded in 2010 and led by CEO Biren Sood, Vasona Networks develops the SmartAIR1000™ edge application controller to manage mobile traffic and address congestion at the granularity of individual cells. The SmartAIR1000 works with traffic across all applications to assess and act on where and why congestion is occurring. Vasona positions its solution to help operators extract more value from existing infrastructure amid costly capacity upgrades. The company operates research and development offices in Tel Aviv, Israel, and is actively hiring. Financially, the firm has now raised a total of $22M to date following the latest round. Vasona intends to use proceeds to accelerate growth, expand field operations and continue investment in R&D.