Sentrix Secures $6 Million in Financing from Magma Venture Partners and Cedar Fund

PRESS RELEASE

BOSTON, Mass. – September 17, 2014 – Sentrix, formerly Foresight-Air, has opened its first US office in Boston, MA after securing more than $6 million in funding from Magma Venture Partners, Cedar Fund, Israel’s Chief Scientist program (OCS) and Board members. Sentrix is using the funds to significantly redefine website security in order to better protect today’s organizations against a rapidly evolving threat landscape. 
 
Sentrix’s cloud-based, context-aware website security solutions protect websites against data breaches, as well as known and unknown cyber attacks including: DDoS, OWASP Top 10, Defacement, Zero Day and more. Web Protection and DDoS attacks are 2 of the 3 major security concerns that enterprises have today, according to a 2013 report from Ponemon. The solutions empower security teams with enterprise-grade SECURITY, SIMPLICITY in management and maintenance, as well as SPEED, by maximizing website performance.
 
Today’s enterprises need to choose between minimal protection – mainly against known threats/signatures – using SMB targeted cloud-based filtering services, or a higher level of protection – using an on-premise Web Application Firewall, which involves long and costly configuration processes and endless maintenance cycles. The former is easy to deploy yet very easy to bypass, while the latter slows time to market and puts a significant burden on security teams in terms of configuration and ongoing analysis.
 
The Gartner Magic Quadrant for Web Application Firewalls specifically states that: “Dedicated DDoS protection, WAFs and next-generation firewall technologies overlap for protocol attacks, provide very limited synergies and are not fully efficient against volumetric attacks.” [Jeremy D'Hoinne, Adam Hils, Greg Young, Joseph Feiman, Gartner WAF Magic Quadrant, June 2014]
 
Sentrix’s ground-breaking technology has broken the current paradigms by providing high security from known and unknown attacks while simultaneously reducing the complexity of deployment and operation by an order of magnitude (from weeks and months to days).  See how it works.
 
“Sentrix is attracting a growing number of mid-and large enterprises in the financial services, telecomm, education, government, manufacturing and other sectors.  Our customers use Sentrix to protect their websites against the entire range of Web Application attacks, and benefit from dramatic improvements in website security and management simplicity,” explained Ofer Wolf, Sentrix CEO.  “By reducing the attack surface and simplifying the complexity and cost of maintenance, the solution cuts management time by up to 80% and reduces TCO by up to 50%.”
 
U.S. and Leadership Expansion
With news of its funding and U.S. expansion, Sentrix has also expanded its leadership team.  Veteran executive appointments, along with an expanded Board of Directors, will help guide the Company’s proven and powerful cyber security technology toward rapid growth in the U.S. and Europe.
 
“The gap between the cost of attacks and the cost of prevention is skyrocketing, forcing organizations to look for innovative solutions that disrupt traditional approaches,” stated Zeev Bregman, Sentrix’s new Chairman of the Board and former CEO of NICE and Comverse, Inc. “Sentrix has developed an approach that empowers security teams to sensibly manage their web security operations while focusing on what’s really important.”
 
“I’ve been working with dozens of executives in the industry over the years and consistently hear a strong, clear demand for advanced web security solutions that offer high security protection, as well as instant and simple integration, while significantly reducing management overhead and limiting operational costs,” explained Amir Orad, Sentrix’s new Board Member and Former CEO NICE Actimize and Cofounder of Cyota (RSA).
 
As part of its U.S. expansion, Sentrix has opened a new Boston-area office located at 1050 Winter Street in Waltham, MA. Sentrix co-founder Israel Barak has relocated to the area and will be managing the North American expansion.
 
Magma Venture Partners
Magma is a leading Israeli venture capital firm, dedicated to investing in Israel's Information, Communications and Technology space ('ICT'). Current and prior portfolio companies include WAZE (Google), Onavo (Facebook) and Wintegra (PMC-Sierra).
 
Cedar Fund
Cedar is an international venture capital firm with more than $325 million under management.  Current and prior portfolio companies include Guardium (IBM) and BigBandNetworks (NSDQ: ARRS). 

About Sentrix
Sentrix redefines website security by providing context-aware, cloud-based solutions that enable enterprise-grade security, protecting against known and unknown cyber-attacks, while optimizing performance.  Dozens of medium and large organizations in the financial services, manufacturing, academic, government, utilities, and other sectors, use Sentrix to substantially improve and simplify their website security. Founded in 2011 and funded by Magma Venture Partners and Cedar Fund, Sentrix has offices in Boston and Israel. Visit http://www.sentrix.com or follow us on Twitter @SentrixSecurity.