Israeli cybersecurity organization Alcide have raised USD 7 million funding in a series A round led by CE Ventures with the cooperation of existing investors Intel Capital and Elron Electronic Industries. With this investment, Alcide aims to focus on their marketing strategy as well as expansion plans across the U.S. and the EMEA (Europe, Middle East and Africa) markets.
Alcide claim that enterprises in European, African and American markets are looking to leverage AI and ML-based cybersecurity tools and devices. They claim that these tools allow enterprises to detect threats beforehand and take counter action to avert a crisis.
In order to boost their presence across these markets, the cyber protection firm say that they raised USD 7 million so that they can provide enterprises with their Microservices Firewall solution. They say that by penetrating these markets, they will be able to position themselves as a global facilitator of cyber protection tools.
According to Alcide, their Microservices Firewall solution bolsters engineers and security groups with a mechanized and straightforward approach to monitor all types of cloud environments. With their firewall integrated into the enterprise cloud environment, Alcide say that engineers can whitelist their security necessities during configuration and naturally authorize them during runtime.
Ranny Nachmias, CEO at Alcide believes that as a security arrangement, Microservices Firewall can implement application-specific tactics as well as address the needs of DevOps teams through other applications. This makes their firewall solution a much-coveted tool in existing markets and will continue being so, claims Nachmias.
In closing, the cyber protection firm said that last December they had raised USD 5.2 million from their current investors and are looking forward to adding more entities. It will be interesting to see how Alcide makes full use of this round of funding in a bid to expand themselves across Europe, America and Africa markets.
The series A funding of Alcide reminds us of Netskope’s USD 168.7 million series F round to boost cybersecurity for customers.