Cyber-Ark Software Closes $12M in Second Round Funding.Business/Technology Editors DEDHAM, Mass.--(BUSINESS WIRE)--March 25, 2002 Jerusalem Venture Partners followed by Vertex Management Israel Leads Investment That Will Allow Company To Expand Its World Wide Sales and Marketing Efforts Cyber-Ark(TM) Software, Ltd., an information security company that develops and markets the PrivateArk Inter-Business Vault(TM), today announced the closing of a $12 million second round of financing. The round was led by Jerusalem Venture Partners (JVP JVP Janatha Vimukthi Peramuna (People's Liberation Front, Sri Lanka) JVP Jewish Voice for Peace JVP Jugular Venous Pressure JVP Junge Volkspartei (Young Austrian People's Party) JVP Junior Vice President ), followed by Vertex Management Israel and the company's existing shareholders, SCP (1) (Service Control Point) A node in an SS7 telephone network that provides an interface to databases, which may reside within the SCP computer or in other computers. , a SoftBank affiliate; JP Morgan/Chase Partners, IDB (ITS Data Bus) An interface between devices in an automobile endorsed by the Society of Automotive Engineers (SAE). Designed to fulfill the goal of Intelligent Transportation Systems (ITS), the ITS Data Bus enables engine diagnostic equipment, GPS navigation systems, , and Cabaret-ArbaOne. With this funding, Cyber-Ark intends to increase its sales and marketing efforts in Europe and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. for its flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , the PrivateArk Inter-Business Vault. "After 10 years in which security companies have specialized in building walls around the enterprise, Cyber-Ark is bringing a new breed of security products for securely removing these boundaries and enabling full inter-business connectivity," said Alon Cohen Alon Cohen (born in Israel, 1962) is the co-founder of VocalTec Inc. (1989) and the inventor of the Audio Transceiver (U.S. Patent 5,825,771 , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cyber-Ark. "The PrivateArk Inter-Business Vault is creating opportunities by enabling business partners and remote offices to share files, transfer E-mails and share Web applications almost as if they were on the same network." The PrivateArk Inter-Business Vault allows organizations to share information with partners, customers and remote offices through a secured data vault. It is a new platform for inter-business information sharing that combines 10 layers of security, including firewall, virtual private network, access control, and others in an architecture that is fast and cost effective. "Today, enterprises are integrating 5-7 different security products in an attempt to create a secured extranet, and then are adding different performance enhancers for data compression, encryption offloading and remote data caching," said Udi Mokady, Co-Founder and COO of Cyber-Ark. "In contrast, Cyber-Ark has developed a complete inter-business infrastructure; including specific security protocols that are understood by the various security layers, and are built on an optimized infrastructure for remote networks, thus adding 'intelligence' that dramatically increases security and performance while reducing costs." A benchmark test of the Inter-Business Vault showed that on a slow Internet connection, a typical document could be accessed via the Vault 28 times faster than it could be accessed via a standard file server protected by a simple extranet made of a VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. and a data encryption product. Considering the fact that this document is also secured from end-to-end by 10 layers of security, which were designed and built as a single solution, one can understand why PrivateArk was named the "Best Security Product of the Year" at the 2001 Networking Industry Awards. "Cyber-Ark immediately attracted our attention because they managed to penetrate an impressive list of enterprises in a very short time in spite of current market conditions," said Erel Margalit, founder and managing partner of JVP. "After reviewing scores of data security business plans, we believe that Cyber-Ark has the disruptive technology to create a new category of enterprise security in a way that hasn't happened since the emergence of companies such as Check Point or MEMCO." "We were deeply impressed by the combination of a highly experienced team and their profound understanding of market needs," said Elisheva Yakobovich, Partner at Vertex Management Israel. "We believe that Cyber-Ark meets an urgent market need with its innovative "holistic" approach to secured data sharing." About Cyber-Ark Headquartered in Dedham, Massachusetts with research and development in Lod, Israel, Cyber-Ark Software is an information security company developing the next generation extranet. Cyber-Ark is comprised of a group of Israel's leading computer engineers and security experts who have previously led R&D teams in top high-tech companies. Cyber-Ark is dedicated to introducing an integrated platform that will enable organizations to freely connect to their remote offices and business partners for sharing information in a secure and high-performance manner. For more information about Cyber-Ark: U.S.: 1-888-808-9005, International: 1-781-251-0670, E-mail:info@cyber-ark.com or visit www.cyber-ark.com About Jerusalem Venture Partners Jerusalem Venture Partners (JVP) is a leading international venture capital firm focused on investing in early-stage companies in five core areas: optical networking, data communications, wireless communications, e-Business infrastructure and Internet service infrastructure. With offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , London and Jerusalem, JVP has the global vision and proven track record to source, build and support technology leaders around the world. Founded in 1993, JVP has invested in nearly 30 companies. With more than $650 million under management, JVP's global network of limited partners comprises top-tier strategic investors including: Boeing, France Telecom, Nortel and Reuters; financial institutions such as Access, AXA AXA Anguilla, Anguilla (Airport Code) AXA Alpha Chi Alpha AXA Animal Crossing Ahead (online forum community/guide to the game Animal Crossing) AXA Auxiliary Artery , Flag Venture Management, HarbourVest, Horsley Bridge Partners, Merrill Lynch Ventures, Invesco, Jafco, GIC GIC See: Guaranteed Investment Contract GIC See guaranteed investment contract (GIC). (Government of Singapore The Government of Singapore is formed by the political party which gains a simple majority in the general elections held in Singapore at least once every five years. It is part of Singapore's political system and supported by the Singapore Civil Service. Investment Corp.), and Mitsui; as well as institutional investors including MIT MIT - Massachusetts Institute of Technology , Columbia University and Hebrew University. For more information, visit the JVP Web site at www.jvpvc.com About Vertex Management Israel Vertex Management Israel manages three Venture Capital Funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: in excess of $250 million and is part of the International Vertex Venture Capital Group. The Group manages over $1 billion through offices in the United States, Europe, Israel and throughout the Pacific Rim. Vertex Management Israel focuses its investments on seed and early stage Israeli, Israel-related and North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. companies that contribute to the growth of information networking and core Internet-enabling technologies. For more information, visit the Vertex Management Israel Web site at www.vertexisrael.co.il |
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