Cyberint and Coro, what the Israeli cyber companies targeted by Intesa Sanpaolo are doing
Neva Sgr, the venture capital of the Intesa Sanpaolo group dedicated to the hi-tech sector, has invested in the Israeli start-ups Cyberint and Coro. Here are all the details
Intesa Sanpaolo aims at the latest generation of cybersecurity with Cyberint and Coro, companies active in protecting against cyber threats.
Neva Sgr, a company of the Intesa Sanpaolo Group 100% controlled by Intesa Sanpaolo Innovation Center, has finalized through its Neva First Fund two investments in Cyberint and Coro, highly innovative Israeli companies, both operating in the crucial sector of Cybersecurity. note from the banking group headed by Carlo Messina.
“Since 2020, Neva Sgr has allocated a capital of approximately 110 million euros through its Neva First Fund, which has an endowment of 250 million euros. After the recent investments in Israel, we are preparing to conclude new transactions in important Italian and foreign companies operating in real estate brokerage, Agri-tech and Life Science ”, declared Luca Remmert, Chairman of Neva Sgr.
All the details.
WHAT CYBERINT DOES
Cyberint develops Digital Risk Protection, Threat Intelligence and Attack Surface Monitoring solutions that protect companies from cyber threats thanks to a wide-ranging control over exposure to external risks.
Founded in 2010 by Itay Yanovski and Raz Alon, it has over 100 employees. It is led by CEO Yochai Corem. It is headquartered in Petah Tikvah, with offices in New York, London and Paris.
Last June, the Israeli company announced a $ 40 million funding round led by Late-Stage Arm of StageOne Venture, Viola Growth and Neva SGR.
HOW IT TACKLES CYBER THREATS
Cyberint intelligence experts have developed a product that delivers timely and targeted information from a wide range of sources to affected teams, enabling effective remediation across all industries. As the CEO explained to Geektime , they provide early warning to thousands of cyber attack attempts, thus support customer security programs, and have a real impact before any harm can be done.
WHAT CHORUS DOES
Coro has created an all-in-one platform based on its own Artificial Intelligence engine that detects the main cyber attacks such as malware, ransomware, phishing and bots. The technology can provide automatic threat mitigation without human interaction.
The company is headquartered in Israel but operates in the United States, with offices in New York and Chicago. Formerly known as CoroNet, about three years ago it moved away from protecting consumer gadgets from cyber threats on public Wi-Fi and its corporate cybersecurity platform, a move that CEO and co-founder Guy Moskowitz has since has led to 300% growth annually, with a total of about 4 million users in 4,500 companies now covered by its platform, reports TechCrunch .
Last April, the Israeli company completed a $ 60 million funding round led by Balderton Capital, with the participation of Jerusalem Venture Partners.
The company did not disclose its valuation, but according to TechCrunch it is around $ 500 million. As of April Coro has raised approximately $ 120 million with other investors including Sound Ventures and MizMaa.
To these is added Neva Sgr of Intesa Sanpaolo.
FOCUS ON ISRAEL
Indeed, Intesa Sanpaolo has focused its attention on the Israeli innovation ecosystem for many years. Israel is central to the development of Neva SGR's investment strategy, the company explains.
Since January 2022, – recalls the note from Intesa Sanpaolo – Neva SGR has invested over 20 million euros in Israel in five start-ups in heterogeneous sectors: in addition to Cybersecurity with Cyberint and Coro, IT with vFunction (which created the first and only solution to automatically and quickly transform monolithic applications into large-scale microservices); Quantum Computing with Classiq (which through its own algorithm is able to facilitate writing and optimizing even very complex quantum circuits regardless of the type of hardware used); Agri-Foodtech with Seed-X (which has created a technology based on Artificial Intelligence that combines Computer Vision and Deep 2 Learning in order to improve the food value chain in terms of safety and sustainability, analyzing the properties of seeds and grains and introducing innovative methods of quality control).
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/cybersecurity/cyberint-e-coro-cosa-fanno-le-societa-cyber-israeliane-puntate-da-intesa-sanpaolo/ on Mon, 18 Jul 2022 11:30:09 +0000.