Israel-based cloud security provider Kindite have raised seed funding of USD 4 million from RDC, a joint venture of Israel-based arms developer Rafael Advanced Defense Systems and Elron Electronic Industries. With this investment, Kindite aims to allow sensitive enterprise data to be transferred to the cloud without it being visible to service providers.
According to Kindite, enterprises of all shapes and sizes need to integrate advanced technologies in order to counter cyber attacks. They say that enterprises that deploy hosting services or other tools face security issues because of the loopholes that exist at the end of service providers.
By raising USD 4 million in their seed-funding round, Kindite believe that they can focus on their breakthrough technology that facilitates the analysis and processing of encrypted information without the content being seen without any decryption. They also say that this solution will pave the way when it comes to transferring of sensitive enterprise data to the cloud without detracting from advanced capabilities.
Speaking about the move, Maor Cohen, CEO at Kindite, commented:
The fund raising round will enable us to expand our development team substantially and to advance towards fulfillment of the vision we have set for ourselves – to offer genuine confidentiality in a practical way for the cloud age.
This is groundbreaking technology that overcomes barriers that past solutions have encountered.
Kindite say that this investment will bring in more investors since this venture is also backed by Chinese conglomerate CreditEase. They believe that this move will allow Kindite to provide their unique offerings to the APAC market as well.
The possibility of offering our customers a solution that ensures confidentiality and is at the same time available for immediate use is the great attraction of our technology.
Our solution represents good news for the world of the cloud, allowing enterprises hermetic protection, and control over the data stored on the cloud.
In closing, the cloud security provider said that they will also be consolidating their cyber security team with the investment. It will be interesting to see the turn of events in the cyber protection market following this move as well as Sysdig and Datrium closing series-D round of funding.