NEW YORK, Oct. 3, 2018 /PRNewswire-PRWeb/ -- Hysolate, pioneer of software-defined endpoints, today announced it has closed $18 million in Series B funding. The round, led by notable investment firms Bessemer Venture Partners and Innovation Endeavors, and including NGP Capital, will help accelerate adoption of the Hysolate Platform, a breakthrough solution that fully protects endpoints from cyberattacks while boosting end-user productivity. The investment will be used to expand Hysolate's market presence and continue building its global customer base.
"End-user devices are deluged by cyberattacks. To protect them, most businesses either lock down devices, making it extremely hard for people to work efficiently, or prioritize productivity and take chances with security. Either choice is untenable," said Tal Zamir, CEO and co-founder of Hysolate. "Hysolate frees businesses from this no-win situation by transforming devices into the world's first software-defined endpoints, making them the secure and productive environments they were meant to be. We're very pleased that Bessemer, Innovation Endeavors and NGP Capital—all premier technology investors—believe in Hysolate's approach and our ability to execute on our vision."
The vast majority—77 percent—of global organizations fell victim to at least one successful cyberattack in 2017. With high-profile data breaches like those at Under Armour and Uber on the rise, phishing attacks getting increasingly sophisticated, and damage from ransomware alone expected to reach $11.5B by 2019, it's clear businesses don't have a reliable way to protect their crown jewels and ensure business continuity. Hysolate's new approach to securing endpoints with seamless isolation uniquely meets this critical need.
"Hysolate reimagined how endpoints work and developed a platform that completely resolves the urgent productivity vs. security problem," said David Cowan, partner at Bessemer Venture Partners. "Just as the data center is now virtualized by default with software-defined computing, networking and storage, Hysolate makes endpoints software-defined as well. The implications of this transformation can't be overstated: businesses can finally deliver a totally unrestricted, easily managed and fully secure user experience. We believe this is a game-changer. "
With the Hysolate Platform, CISOs, IT leaders and end-users all get what they need, with no compromises and no risks. Hysolate turns end-user devices into software-defined endpoints, in which each endpoint has multiple isolated virtual machines. Endpoints are built on top of a slim hypervisor layer that sits below the operating system. They're highly flexible, compatible and secure by design. Everything an end-user does happens in virtualized desktops, running locally, side-by-side with full isolation.
The entire Hysolate experience is seamless for users, who are free to access, install and work with whatever websites, apps, external devices and cloud services they need, without being constrained by security restrictions and without exposing corporate assets. Applications automatically launch in the correct, designated virtual environment. To users, everything looks and acts like their familiar Windows desktop.
"Hysolate has the power to revolutionize how enterprises operate, making user productivity as critical—and attainable—as cybersecurity," said Harpinder Singh, partner, Innovation Endeavors. "The Hysolate team is uniquely qualified to deliver on this promise and has already made great strides in doing so, with its platform being used by major global brands. We're excited to continue working with Hysolate as they grow their business."
As part of its B round announcement, Hysolate revealed that Amit Karp, partner at Bessemer Ventures, and Harpinder Singh, partner at Innovation Endeavors, have joined the company's board.
About Hysolate
Hysolate pioneered software-defined endpoints, the most innovative way to secure user devices and boost user productivity. The solution seamlessly splits devices into segregated environments by leveraging virtualization and provides protection below the operating system. Customers include leading financial, technology and services enterprises worldwide. Hysolate's team includes IT and cybersecurity experts who are veterans of VMware, Microsoft, CyberArk and Unit 8200 (Israel's NSA). The company was launched by Team8, a cybersecurity think tank, is privately held, and has headquarters in Tel Aviv and New York. Visit us at http://www.hysolate.com and follow us on LinkedIn and Twitter @HysolateNow
About Bessemer Venture Partners
Bessemer Venture Partners (BVP) is a $4.5B global venture capital firm that invests in consumer, enterprise and healthcare startups from seven offices around the world. One of the longest-standing venture capital firms in the world, Bessemer invested in the early stages of Pinterest, Twitch, Blue Apron and Skype and has helped 122 of its companies go public, including SendGrid, Twilio, MindBody, Shopify, Wix, Yelp and LinkedIn. Follow us @BessemerVP
About Innovation Endeavors
Innovation Endeavors is helping entrepreneurs drive a super evolution of industry. We invest in visionary founders, transformational technology and emergent ecosystems for a new world. The firm is headquartered in three major regions of innovation: Silicon Valley; Tel Aviv; and New York City. Investments include: CommonSense Robotics; Freenome; Planet; Plenty; SoFi; Uber; and Zymergen. For more information, visit http://www.innovationendeavors.com
About NGP Capital
NGP Capital is a global venture capital firm with more than $1 billion of assets under management and offices in Helsinki, Geneva, Palo Alto, and Beijing. NGP Capital invests in leading growth-stage companies in areas such as Intelligent Enterprise, Smart Mobility, and Digital Health. In NGP Capital's portfolio, you can find for example Xiaomi, Deliveroo, and Babbel.
SOURCE Hysolate
Share this article