The new funding was led by TLV partners, with participation of the company’s early investors StageOne Ventures and Singtel Innov8. Silverfort will use the funds to address demand for its innovative authentication platform, which enables adaptive multi-factor authentication for sensitive assets.
The company has customers across the financial, healthcare, energy, legal and technology industries, and formed strategic partnerships with large security vendors. The startup’s authentication platform includes even systems that do not support multi-factor authentication, such as proprietary systems, IoT devices, shared files and folders, industrial control systems (ICS) and more.
On top of its authentication platform, Silverfort built an AI-based policy engine. Thus the platform gains the ability to learn user behaviour across all systems and environments, and to enforce adaptive authentication wherever needed.
Silverfort was founded in 2016 by Hed Kovetz, Matan Fattal and Yaron Kassner, a group of cybersecurity and cryptography experts from the elite 8200 cyber unit of the Israeli Intelligence Corps, with industry experience. Following the new investment, the company plans to expand its sales, marketing, security research and engineering teams in the US, Israel and Europe.
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