In the News

Israels Hot Startup Scene is Fostering Several Unicorns

27 Jul 2015 | By John Rampton

I recently had the privilege to fly from Silicon Valley to what many know as Silicon Wadi (also know as Tel Aviv, Israel). Israel has more that 6,000 startups and attracts more venture capital per person than any other country in the world.

Here are some of the hot startups that I see as having a bright future as well as every one of them having a potential billion dollar valuation (if they don’t already) in the near future.

Checkmarx

Founded in 2006 by Israeli cyber security expert Maty Siman, Checkmarx provides comprehensive solutions for application security testing and application layer attack prevention. Its flagship product is its automated static code analysis--scanning for security deficiencies in source code early in the software development lifecycle where it is most cost-effective to apply fixes. With offices in both Israel and the US, Checkmarx has grown employee headcount to over 150 in the last 12 months, and is experiencing revenue growth greater than 100% in 2015. The company has an industry-leading customer retention rate and currently serves over 700 customers worldwide including Salesforce.com, SAP, Samsung, Coca Cola and the US Army.

We met with Checkmarx just days after they announced a massive $84 million investment from NY-based Insight Venture Partners. That funding will be primarily used to further accelerate growth through product innovation and global expansion.

Read the full article at Inc.com.

I recently had the privilege to fly from Silicon Valley to what many know as Silicon Wadi (also know as Tel Aviv, Israel). Israel has more that 6,000 startups and attracts more venture capital per person than any other country in the world.

Here are some of the hot startups that I see as having a bright future as well as every one of them having a potential billion dollar valuation (if they don’t already) in the near future.

Checkmarx

Founded in 2006 by Israeli cyber security expert Maty Siman, Checkmarx provides comprehensive solutions for application security testing and application layer attack prevention. Its flagship product is its automated static code analysis–scanning for security deficiencies in source code early in the software development lifecycle where it is most cost-effective to apply fixes. With offices in both Israel and the US, Checkmarx has grown employee headcount to over 150 in the last 12 months, and is experiencing revenue growth greater than 100% in 2015. The company has an industry-leading customer retention rate and currently serves over 700 customers worldwide including Salesforce.com, SAP, Samsung, Coca Cola and the US Army.

We met with Checkmarx just days after they announced a massive $84 million investment from NY-based Insight Venture Partners. That funding will be primarily used to further accelerate growth through product innovation and global expansion.

Read the full article at Inc.com.


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The Importance of the Side Project

27 Jul 2015 | By Adam Winograd

If you’re in a startup, the idea of pursuing a “side project” may seem like a bit of a joke. The standard ethos from Silicon Valley to Tel Aviv is that if you’re not living, breathing and bleeding your core product, you’re doing something wrong. And besides, who has the time?

But there is a difference between a “side project” as stereotyped by the unrelated passion project stowed away in the desk drawer until it magically becomes your main focus, and the new phenomenon of “side project marketing,” wherein a company’s side project can actually create real and lasting value for your core business, all by creating something of real value for others.

[An] example is Checkmarx, a cyber security company that launched an addictive yet useful mini-game called “Game of Hacks” which tests coders ability to spot vulnerabilities in code, helping them to learn along the way.

The game received massive positive press coverage, had over 35,000 players in the first 24 hours (it’s 80,000 now), and drew thousands of visitors to the Checkmarx website. Many of those visitors were quality leads which have turned into real customers. And now the team is working on productizing an enterprise version of the game.

 

Read the full article on The Next Web.

If you’re in a startup, the idea of pursuing a “side project” may seem like a bit of a joke. The standard ethos from Silicon Valley to Tel Aviv is that if you’re not living, breathing and bleeding your core product, you’re doing something wrong. And besides, who has the time?

But there is a difference between a “side project” as stereotyped by the unrelated passion project stowed away in the desk drawer until it magically becomes your main focus, and the new phenomenon of “side project marketing,” wherein a company’s side project can actually create real and lasting value for your core business, all by creating something of real value for others.

[An] example is Checkmarx, a cyber security company that launched an addictive yet useful mini-game called “Game of Hacks” which tests coders ability to spot vulnerabilities in code, helping them to learn along the way.

The game received massive positive press coverage, had over 35,000 players in the first 24 hours (it’s 80,000 now), and drew thousands of visitors to the Checkmarx website. Many of those visitors were quality leads which have turned into real customers. And now the team is working on productizing an enterprise version of the game.

 

Read the full article on The Next Web.


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The 20 Biggest Funding Rounds in European Tech in 2015

23 Jul 2015 | By Neil Murray

The UK and Germany battled it out for the majority of the largest rounds in the first half of 2015, with the UK (8) just edging out Germany (7). Israeli companies took 2 spots, while Sweden, France and Iceland all had one company represented in the 20 largest rounds.

Checkmarx (Israel) raised $84 million.

Why? Checkmarx specializes in software application security and were the beneficiaries of an $84 million investment from Insight Venture Partners in June.

There was originally some confusion as to whether this was actually an investment or an acquisition, but their CEO confirmed to Geektime that although some of the money will be going towards buying a stake in the company, with some of the early investors taking liquidity, most of the money will go into growing the company.

Investors: Insight Venture Partners

Read the full article at Tech.eu

The UK and Germany battled it out for the majority of the largest rounds in the first half of 2015, with the UK (8) just edging out Germany (7). Israeli companies took 2 spots, while Sweden, France and Iceland all had one company represented in the 20 largest rounds.

Checkmarx (Israel) raised $84 million.

Why? Checkmarx specializes in software application security and were the beneficiaries of an $84 million investment from Insight Venture Partners in June.

There was originally some confusion as to whether this was actually an investment or an acquisition, but their CEO confirmed to Geektime that although some of the money will be going towards buying a stake in the company, with some of the early investors taking liquidity, most of the money will go into growing the company.

Investors: Insight Venture Partners

Read the full article at Tech.eu


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Checkmarx Expands Recruitment After Latest Investment

23 Jul 2015 | By Admin
Checkmarx has offices in Israel and abroad, and grew to 160 workers just last year, alongside the meteoric growth of over 100% in revenues in 2015.Yael Ben Tovim, Head of Human Resources, said: "After raising tens of millions of dollars to support rapid growth, expanding global operations and developing new products, we are recruiting additional staff in various roles with a special focus on our R & D department. Working at Checkmarx is an interesting and challenging opportunity, giving employees a chance to be at the forefront of product development with leading customers, including many companies within the Fortune 500."Read the full article (in Hebrew) on People and Computers and Globes

Checkmarx has offices in Israel and abroad, and grew to 160 workers just last year, alongside the meteoric growth of over 100% in revenues in 2015.Yael Ben Tovim, Head of Human Resources, said: “After raising tens of millions of dollars to support rapid growth, expanding global operations and developing new products, we are recruiting additional staff in various roles with a special focus on our R & D department. Working at Checkmarx is an interesting and challenging opportunity, giving employees a chance to be at the forefront of product development with leading customers, including many companies within the Fortune 500.”Read the full article (in Hebrew) on People and Computers and Globes


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The 10 Coolest Security Startups Of 2015 (So Far)

17 Jul 2015 | By Sarah Kuranda

There's a lot of noise in the security startup space, and investors are funneling literally billions of dollars in the market, hoping to bet on the next big thing. The standouts for CRN for 2015 (so far) include companies that have launched security solutions for containers, applications, endpoint, threat detection and more. That breadth of options and emergence of new innovative technologies will prove key as security continues to be the top challenge for many companies, and for solution providers who look to find answers for those problems for their customers.

Checkmarx offers a solution that helps application companies build in security best practices from the get-go. The solution, called CxSAST, uses artificial intelligence replication of code to let software developers make sure their projects are clean of vulnerabilities and backdoors before launch. The company recently announced $84 million in Series D funding in June, let by Insight Ventures.

 

Continue Reading at CRN.

There’s a lot of noise in the security startup space, and investors are funneling literally billions of dollars in the market, hoping to bet on the next big thing. The standouts for CRN for 2015 (so far) include companies that have launched security solutions for containers, applications, endpoint, threat detection and more. That breadth of options and emergence of new innovative technologies will prove key as security continues to be the top challenge for many companies, and for solution providers who look to find answers for those problems for their customers.

Checkmarx offers a solution that helps application companies build in security best practices from the get-go. The solution, called CxSAST, uses artificial intelligence replication of code to let software developers make sure their projects are clean of vulnerabilities and backdoors before launch. The company recently announced $84 million in Series D funding in June, let by Insight Ventures.

 

Continue Reading at CRN.


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Checkmarx Receives $84 Million Investment From Insight Venture Partners to Further Accelerate Growth

25 Jun 2015 | By Admin

Checkmarx, a global leader in software application security, today announced a $84M investment from New York-based venture capital and private equity firm, Insight Venture Partners. The new round of capital will be primarily used to further accelerate growth through product innovation and global expansion.

 

Founded in 2006 by Israeli cyber security expert Maty Siman, Checkmarx provides comprehensive solutions for application security testing and application layer attack prevention. Its flagship product is its automated static code analysis – scanning for security deficiencies in source code early in the software development lifecycle where it is most cost effective to apply fixes. With offices in both Israel and the US, Checkmarx has grown employee headcount to over 150 in the last 12 months, and is experiencing revenue growth greater than 100% in 2015. The company has an industry-leading customer retention rate and currently serves over 700 customers worldwide including Salesforce.com, SAP and the US Army.

 

“Checkmarx was founded with the goal of becoming the world leader in the application security market to provide businesses a better way to protect their data,” said Emmanuel Benzaquen, CEO of Checkmarx. “Our partnership with Insight Venture Partners will allow us to continue our pursuit of that goal as we expand our global sales operations and widen the scope of our application security platform.”

 

“Security has become one of the greatest concerns for companies, and Checkmarx has a proven track record of true leadership in application security.” said Richard Wells, managing director at Insight Venture Partners. “We are pleased to add Checkmarx to our portfolio of companies as they continue to provide businesses and organizations with innovative solutions to keep their data secure against ever-increasing security threats.”

 

Mooreland Partners LLC served as the Company’s exclusive financial advisor in the transaction and HFN served as the Company’s legal counsel. Willkie Farr & Gallagher LLP acted a legal adviser to Insight Venture Partners.

 


 

About Checkmarx

Checkmarx is a leading developer of software solutions used to identify, fix and block security vulnerabilities in web and mobile applications. It provides an easy and effective way for organizations to introduce security into their Software Development Lifecycle (SDLC) which systematically eliminates software risk before applications are released. The company's customers include 5 of the world's top 10 software vendors and many Fortune 500 and government organizations, including SAP, Samsung, Salesforce.com, Coca Cola and the US Army.  For more information about Checkmarx, visit http://www.checkmarx.com or follow us on twitter: @checkmarx

 

About Insight Venture Partners

Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $10 billion and invested in more than 200 companies worldwide. Our mission is to find, fund and work successfully with visionary executives providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit http://www.insightpartners.com or follow us on twitter: @insightpartners.com.


 

Press Roundup:

Israeli Checkmarx receives $84 million investment from Insight Venture Partners | Geektime

Checkmarx receives $84M investment | SC Magazine

Cyber Company Checkmarx Raises $84M | Globes

Israeli cyber start-up Checkmarx nets $84m investment | Times of Israel

Checkmarx Raises $84M | Israel21C

Checkmarx, a global leader in software application security, today announced a $84M investment from New York-based venture capital and private equity firm, Insight Venture Partners. The new round of capital will be primarily used to further accelerate growth through product innovation and global expansion.

 

Founded in 2006 by Israeli cyber security expert Maty Siman, Checkmarx provides comprehensive solutions for application security testing and application layer attack prevention. Its flagship product is its automated static code analysis – scanning for security deficiencies in source code early in the software development lifecycle where it is most cost effective to apply fixes. With offices in both Israel and the US, Checkmarx has grown employee headcount to over 150 in the last 12 months, and is experiencing revenue growth greater than 100% in 2015. The company has an industry-leading customer retention rate and currently serves over 700 customers worldwide including Salesforce.com, SAP and the US Army.

 

“Checkmarx was founded with the goal of becoming the world leader in the application security market to provide businesses a better way to protect their data,” said Emmanuel Benzaquen, CEO of Checkmarx. “Our partnership with Insight Venture Partners will allow us to continue our pursuit of that goal as we expand our global sales operations and widen the scope of our application security platform.”

 

“Security has become one of the greatest concerns for companies, and Checkmarx has a proven track record of true leadership in application security.” said Richard Wells, managing director at Insight Venture Partners. “We are pleased to add Checkmarx to our portfolio of companies as they continue to provide businesses and organizations with innovative solutions to keep their data secure against ever-increasing security threats.”

 

Mooreland Partners LLC served as the Company’s exclusive financial advisor in the transaction and HFN served as the Company’s legal counsel. Willkie Farr & Gallagher LLP acted a legal adviser to Insight Venture Partners.

 


 

About Checkmarx

Checkmarx is a leading developer of software solutions used to identify, fix and block security vulnerabilities in web and mobile applications. It provides an easy and effective way for organizations to introduce security into their Software Development Lifecycle (SDLC) which systematically eliminates software risk before applications are released. The company’s customers include 5 of the world’s top 10 software vendors and many Fortune 500 and government organizations, including SAP, Samsung, Salesforce.com, Coca Cola and the US Army.  For more information about Checkmarx, visit http://www.checkmarx.com or follow us on twitter: @checkmarx

 

About Insight Venture Partners

Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $10 billion and invested in more than 200 companies worldwide. Our mission is to find, fund and work successfully with visionary executives providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit http://www.insightpartners.com or follow us on twitter: @insightpartners.com.


 

Press Roundup:

Israeli Checkmarx receives $84 million investment from Insight Venture Partners | Geektime

Checkmarx receives $84M investment | SC Magazine

Cyber Company Checkmarx Raises $84M | Globes

Israeli cyber start-up Checkmarx nets $84m investment | Times of Israel

Checkmarx Raises $84M | Israel21C


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Hacked US Security Clearances Are Giving Beijing Insanely Personal Information About American Citizens

14 Jun 2015 | By Jeff Stone

Hackers who broke into the U.S. Office of Personnel Management (OPM) database this week didn’t just steal birthdays, email addresses and health information. They obtained security clearance information that’s invasive enough to ruin potentially millions of American lives. 

The U.S. government is struggling to adapt because, well, governments are slow.

“There’s a lot of bureaucracy and steps you have to go through before you can adopt new technology,” said Amit Ashbel, a product manager at the code security company Checkmarx. “The U.S. is just more frequently attacked because it’s the U.S. It’s a global power and has disagreements with different regions.”

Continue reading at the International Business Times

Hackers who broke into the U.S. Office of Personnel Management (OPM) database this week didn’t just steal birthdays, email addresses and health information. They obtained security clearance information that’s invasive enough to ruin potentially millions of American lives. 

The U.S. government is struggling to adapt because, well, governments are slow.

“There’s a lot of bureaucracy and steps you have to go through before you can adopt new technology,” said Amit Ashbel, a product manager at the code security company Checkmarx. “The U.S. is just more frequently attacked because it’s the U.S. It’s a global power and has disagreements with different regions.”

Continue reading at the International Business Times


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An Analysis of the Starbucks Cyber-Attack and How To Stay Protected

14 Jun 2015 | By Amit Ashbel

How much is a cup of coffee really worth? Several weeks ago, many Starbucks customers began reporting their Starbucks card balance emptied and then topped again. On May 13th, Starbucks released a written statement  denying the un-authorized activity was a result of a hack or an intrusion to its servers or mobile app. But the hard facts show that indeed customers had their accounts abused by hackers. 

The question is, how were the credentials obtained? There are several plausible answers to this question and no answer can be proved or shot down completely. Some researchers say that there was an active phishing campaign targeting Starbucks customers, others say that the phishing campaign was targeting a wider range of users who are not necessarily Starbucks customers.

Continue reading at App Developer Magazine

How much is a cup of coffee really worth? Several weeks ago, many Starbucks customers began reporting their Starbucks card balance emptied and then topped again. On May 13th, Starbucks released a written statement  denying the un-authorized activity was a result of a hack or an intrusion to its servers or mobile app. But the hard facts show that indeed customers had their accounts abused by hackers. 

The question is, how were the credentials obtained? There are several plausible answers to this question and no answer can be proved or shot down completely. Some researchers say that there was an active phishing campaign targeting Starbucks customers, others say that the phishing campaign was targeting a wider range of users who are not necessarily Starbucks customers.

Continue reading at App Developer Magazine


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Game of Hacks coming in white-labelled version after strong demand from security-challenged businesses

20 May 2015 | By David Braue

It may have started out as a way to build a brand and engage the curiosity of the Internet development community, but an Israeli development-tools company's Game of Hacks competition has proven so popular that it is developing a white-labelled solution to help organisations put their own developers through their security paces.

The online game – which pushes players to test their ability to spot security flaws in samples of actual code – was played by 35,000 people in its first 24 hours and hundreds of thousands more in the months since its launch in August 2014. Yet the most interesting part of the Game of Hacks, vice president of marketing Asaph Schulman told CSO Australia, was watching what happened as hackers tired of the game itself and began looking for ways to hack it.

“At the end of the day,” Schulman said, “if we can actually replicate this phenomenon – posing questions about finding vulnerabilities and gamifying that – we can create something that is fun, educational, and resolves a certain pain point for our target audience.”

Continue reading this article at CSO Australia. 

It may have started out as a way to build a brand and engage the curiosity of the Internet development community, but an Israeli development-tools company’s Game of Hacks competition has proven so popular that it is developing a white-labelled solution to help organisations put their own developers through their security paces.

The online game – which pushes players to test their ability to spot security flaws in samples of actual code – was played by 35,000 people in its first 24 hours and hundreds of thousands more in the months since its launch in August 2014. Yet the most interesting part of the Game of Hacks, vice president of marketing Asaph Schulman told CSO Australia, was watching what happened as hackers tired of the game itself and began looking for ways to hack it.

“At the end of the day,” Schulman said, “if we can actually replicate this phenomenon – posing questions about finding vulnerabilities and gamifying that – we can create something that is fun, educational, and resolves a certain pain point for our target audience.”

Continue reading this article at CSO Australia. 


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9 Security Mistakes Every Java Developer Must Avoid

18 May 2015 | By Sharon Solomon

Java has come a long way since it was introduced in mid-1995. Its cross-platform characteristics have made it the benchmark when it comes to client-side web programming. But with cybercrime and hackings reaching epidemic levels due to its widespread usage and distribution, the need for secure Java development has become the call of the hour.

A recent Kaspersky lab report mentions Java as the most attacked programming language, with more and more hacking incidents being reported worldwide. Java’s susceptibility is largely due to its segmentation problem. Not all developers are using the latest version (Java 9), which basically means that the latest security updates are not always applied.

Read the full article here

Java has come a long way since it was introduced in mid-1995. Its cross-platform characteristics have made it the benchmark when it comes to client-side web programming. But with cybercrime and hackings reaching epidemic levels due to its widespread usage and distribution, the need for secure Java development has become the call of the hour.

A recent Kaspersky lab report mentions Java as the most attacked programming language, with more and more hacking incidents being reported worldwide. Java’s susceptibility is largely due to its segmentation problem. Not all developers are using the latest version (Java 9), which basically means that the latest security updates are not always applied.

Read the full article here


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