BEER SHEVA, Israel, January 24, 2017 /PRNewswire/ --
Secret Double Octopus, the pioneer of keyless multi-shield connectivity
and authentication, announced today that it has closed a $6 million Series A funding round. The
financing round included Jerusalem Venture Partners, Liberty Media's Israel Venture Fund, Iris Capital, Benhamou Global Ventures
and angel investor Yaniv Tal. The investment will be used to expand R&D efforts and accelerate
growth in key markets, including the US and Europe.
Based on Secret Sharing algorithms, originally developed to protect nuclear launch codes, Secret Double Octopus has developed
the only solution on the market that applies keyless authentication and data-in-motion protection for cloud, mobile, and IoT. The
Company's technology prevents cyber attackers from accessing enough critical information to be useful for attacks such as brute
force, man-in-the-middle, PKI manipulation, key theft and certificate authority weaknesses.
"Many security measures, such as SMS verifications, pseudo-biometric markers, behavioral markers, one-time-passwords and
tokens, employ only a single layer of protection, making them vulnerable to attack, while also creating unnecessary friction for
the user," said Raz Rafaeli, CEO of Secret Double Octopus. "Our multi-shield approach to
connectivity, specifically as it relates to authentication, provides customers with both topflight security and a seamless user
experience which is critical when countering the increasing levels of sophistication today's hackers demonstrate. We are happy
that our new investors, representing key strategic partners, share our vision and look forward to expanding our presence in
multiple markets."
Founded in Israel by a seasoned leadership team with more than 100 years' combined academic
and industry experience across networking, information security, and computer science, Secret Double Octopus was recently
designated a Gartner
Cool Vendor.
Investor Quotes:
"It is seldom the case where security solutions ease user experience," stated Yoav Tzruya, Partner at JVP. "Secret Double
Octopus offers the best of both worlds - theoretically secure technology, immune to all computational challenges and quantum
attacks, seamless user experience, and the ability to deploy in conjunction with all existing solutions."
"Secret Double Octopus is improving network security by offering keyless authentication and post-computational
("quantum-safe") data-in-motion protection," said Yaron Rosenbaum, Partner at Iris Capital. "With
the imminent cyber security risks presented by IoT and Quantum Computing, we believe Secret Double Octopus is uniquely positioned
to address a very large market potential, with its unique set of products based on strong and well established scientific
principles. Iris Capital is excited to be a part of Secret Double Octopus's journey, and will actively support the Company by
leveraging our 30 years of experience and network of connections in Europe and around the
world."
About Secret Double Octopus
Secret Double Octopus has developed the world's only keyless
multi-shield connectivity technology to protect identity and data across cloud, mobile and IoT environments. Based on Secret
Sharing algorithms, originally developed to protect nuclear launch codes, Secret Double Octopus' technology prevents cyber
attackers from accessing enough critical information to be useful for attacks, eliminating brute force, man-in-the-middle,
PKI manipulation, key theft and certificate authority weaknesses.
The Company was founded in 2015 by a seasoned leadership team with more than 100 years' combined academic and industry
experience. Secret Double Octopus is backed by Jerusalem Venture Partners, Iris Capital, Liberty Media and Benhamou Global
Ventures. For more information, please visit http://doubleoctopus.com/
About Jerusalem Venture Partners (JVP)
Jerusalem Venture Partners ("JVP") is an internationally renowned venture capital fund based in Israel. JVP has raised over $1.1bn, built over 120 companies, was ranked by
Preqin as one of the top-ten consistently performing VC firms worldwide and has led 32 notable exists - 12 IPOs and 20 M&As -
the most recent being the NASDAQ-listed security forerunner CyberArk (NASDAQ: CYBR) and the Altair Semiconductors acquisition by
Sony Corporation. JVP is renowned for its hands-on approach in creating companies from seed through its state-sponsored
incubators and deep expertise in the fields of cyber security, big data, enterprise software, storage, mobile, media and IoT.
Leveraging a rich network of global industry partners, JVP works closely with international corporations in Europe, the US and China to drive portfolio expansion. In 2013 JVP
established its early-stage investment vehicle, JVP Cyber Labs, aimed at identifying, nurturing and building the next wave of
cyber-security and big data companies to emerge from Israel. Based in the epicenter of Israeli cyber innovation in Beer Sheva, JVP Cyber Labs brings together academia, multinational corporations, and experts with experience
from the military's elite computer units and has become a magnet for aspiring entrepreneurs from all over the country.
About Liberty Israel Venture Funds
The Liberty Israel Venture Funds ("Liberty Israel") are a pair of venture capital funds, one
organized by Liberty Media Corporation (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, LMCA, LMCK) and the other organized by Liberty
Interactive Corporation (NASDAQ: QVCA, QVCB, LVNTA, LVNTB). Liberty Israel is dedicated to investing in Israeli technology
start-up companies, stages A and above primarily, whose businesses and operations are related to the Liberty Media and Liberty
Interactive portfolios of companies. Liberty Israel's areas of interest include companies relating
to cyber security, the connected car, media and communications technologies, digital commerce, IT, Big Data and more. For more
information regarding Liberty Israel, please email info@libertyisrael.vc. For inquiries regarding Liberty Media Corporation or Liberty Interactive Corporation,
please contact Courtnee Chun at 720-875-5420.
About Iris Capital
Iris Capital is a European venture capital fund specializing in the digital economy. It supports businesses at various stages of
maturity, from start-up to capital development. Since its inception in 1986, the Iris Capital team has invested more than €1
billion in over 300 companies. With its strong sector specialization and extensive experience acquired over almost 30 years, Iris
Capital provides active support to its portfolio of companies, and has offices in Paris,
Cologne, Berlin, San
Francisco, Montreal, Riyadh, Dubai, Beijing, Tokyo and Tel-Aviv. In 2012, Iris Capital entered into a strategic partnership with Orange and Publicis to manage
their joint venture capital initiative. For more information on the Iris Capital portfolio, visit http://www.iriscapital.com
About BGV
Benhamou Global Venture (BGV), is an early-stage venture capital firm with deep Silicon Valley roots, with an exclusive focus
on enterprise information technology opportunities in global markets. The BGV team has successfully built a cross-border
venture investing model, which it is selectively expanding to other markets and regions globally. The Fund was founded by
Eric Benhamou, formerly chairman and CEO of 3Com, Palm and co-founder of Bridge Communications.
Comprised of an experienced partnership team of global operating executives and investors, BGVII will actively engage and support
entrepreneurs looking to build the next generation of enterprise IT companies. With a particular emphasis on cloud based services
and applications, cyber security, web-scale infrastructure, business analytics and the Internet of Things, the Fund will invest
in the compelling opportunities offered as enterprise IT transformation accelerates. The company has offices in Palo Alto California and Tel Aviv (Israel).
To learn more about our BGV, please visit us at http://benhamouglobalventures.com or follow us on Twitter: @BenhamouGlobalV
Media Contact:
Tamar Shmaryahu
GKPR for Secret Double Octopus
tamar@gkpr.com
+972-58-582-6277
SOURCE Secret Double Octopus