IONIX, an industry leader in Attack Surface Management (ASM), recently made headlines with the announcement of the completion of its $42 million A Round financing by securing an additional $15 million in funding from new investors Maor Investments along with participation from existing investors Hyperwise Ventures, Team8 and U.S. Venture Partners (USVP). This latest round of funding brings the company’s total funding to date to $50.3 million. Additionally, the company revealed that cyber security veteran Chad Kinzelberg will be joining IONIX’s Board of Directors.
The funds secured from the A Round financing will be utilized by IONIX to accelerate go-to-market activities and the development of its product roadmap. The ultimate goal will be to expand the Threat Exposure Management capabilities of its industry-leading Attack Surface Management solution. This strategic move is expected to further enhance the company’s platform and provide enterprises with a unified view of critical exposures from the complete enterprise attack surface across cloud, on-premises, SaaS, and digital supply chains.
Addressing the recent development, Marc Gaffan, CEO of IONIX, highlighted the increasing need for security leaders at global companies to have a wide visibility of their attack surface from an outsider’s perspective, similar to that of an attacker. He emphasized the importance of focusing on critical exposures to help organizations in effectively prioritizing their security measures. Gaffan also noted the strong market uptake of IONIX’s solutions, which underscores both the importance of the problem and the value that their platform brings to customers.
The IONIX platform is designed to allow security teams to visualize and prioritize hundreds of attack surface threats, even deep into their digital supply chains, into a manageable set of specific, actionable insights. The platform also offers one-click workflows, enabling clear next steps, greatly simplifying and accelerating remediation, while also improving cost and efficiency for security teams. Customers of IONIX have reported discovering up to 50% more assets and significantly reducing the Mean Time to Resolution (MTTR) of threats.
In addition to the funding announcement, the company also shared the news of cyber security veteran Chad Kinzelberg joining IONIX’s Board of Directors. Kinzelberg boasts extensive experience in the cybersecurity field, having served as the senior vice president of Corporate and Business Development at Palo Alto Networks from pre-IPO to 2018. His previous roles at Verisign’s cybersecurity business and as CEO of Santa Cruz Networks make him an ideal candidate to help support IONIX’s continued success.
Kinzelberg expressed confidence in the future prospects of the Attack Surface Management market and identified IONIX as an innovator within the industry. He praised IONIX for focusing on advancing from simple asset discovery to exploitability-based prioritization, using proprietary technologies like their ‘Connective Intelligence.’ His strong confidence is based on the product, the team, and the market opportunity, according to Kinzelberg.
As organizations continue to face increasingly sophisticated cyber threats, the importance of solutions such as IONIX’s platform cannot be overstated. The company’s machine-learning-powered discovery engine, contextual risk assessment and prioritization, and end-to-end remediation workflows are helping global leaders including Lexmark, Warner Music Group, Infosys, The Telegraph, and E. ON to effectively manage their complex and ever-changing attack surfaces.
It is noteworthy that Maor Investments, the Luxembourg-based venture capital fund that exclusively invests in Israeli technology companies, contributed to the additional funding secured by IONIX. Maor Investments’ mission is to build a bridge between Israeli startups that want to penetrate the European market and European companies that want to leverage Israeli technology and bolster innovation. With close to $300 million in assets under management across two flagship funds, and a total of 22 investments made to date, Maor Investments has become a leading growth investor in the Israeli tech ecosystem.
The recent developments at IONIX not only underscore the company’s commitment to advancing the field of Attack Surface Management but also demonstrate the strong support it has garnered from leading investors and industry veterans. With its eye on innovation and addressing the evolving needs of its customers, IONIX looks set to further solidify its position as a leader in the ASM market. For more information about IONIX and its platform, visit www.ionix.io.