LayerX, the creator of the innovative LayerX Browser Security platform, has successfully closed $24 million in Series A funding. This round was spearheaded by Glilot+, Glilot Capital Partners’ early-growth stage fund, with contributions from Dell Technologies Capital and other backers. Lior Litwak, Managing Partner at Glilot Capital and Head of Glilot+, along with Yair Snir, Managing Partner at Dell Technologies Capital, are set to join LayerX’s board.
The influx of funds will bolster corporate development, enhancing talent recruitment and expanding the company’s global footprint. To date, the company’s funding total has reached $32 million. In today’s digital age, enterprise employees increasingly depend on browser-based tools and SaaS platforms. However, these essential tools also introduce significant security threats, such as data breaches, identity and password thefts, harmful browser add-ons, phishing websites, and more. Specifically designed to fortify browser-based operations on both managed and unmanaged devices, LayerX stands out in its field.
“We’ve transformed workforce protection for organizations without requiring the transition to a dedicated secure browser. Unlike other solutions, installed in a matter of minutes, the LayerX Browser Extension does not impact employee efficiency, speed, privacy or the browsing experience, ” said Or Eshed, co-founder and CEO, LayerX. “As the browser becomes more central to the employee, we anticipate it becomes more attractive to the attacker, particularly in the wake of GenAI tools used in browser-related activities,” he continues. “Today’s funding round is a testament to our increasing market opportunity and the innovation behind our platform’s user-friendly approach to a more secure browser experience.”
The LayerX Enterprise Browser Extension works seamlessly across all major browsers like Chrome, Firefox, and Edge, requiring no agents, VPNs, or changes to network settings. Upon deployment, security and IT departments can monitor user activities closely and address threats instantly, all without disrupting the user experience. LayerX effectively shields against all types of threats, whether they originate from user errors or external attacks. The platform’s AI technology meticulously examines browser-executed code, automatically generating detailed insights into user behavior.
“Since inception, LayerX showed super fast growth and adoption by the world’s leading enterprises. The company is at the forefront of defense for modern organizations. By protecting the browser, the central productivity application in organizations, from a wide range of new-generation security risks, LayerX can solve acute security problems that have remained unanswered until now,” said Kobi Samboursky, Founding and Managing Partner at Glilot Capital
“We believe that this novel solution for securing browsers will replace most SASE and SSE solutions prevalent today in organizations. At an estimated market size of $7 billion, the potential inherent in LayerX’s technology is tremendous.”
“Similar to other successful entrepreneurs in the cybersecurity field we’ve collaborated with, Or and David bring significant experience and knowledge in understanding the technical issues involved in threats to organizations and the motivations of attackers. Consequently, they recognize that effective security measures should adapt to real-world user behaviors, rather than the other way around,” said Yair Snir, Managing Director at Dell Technologies Capital.
“In a world where most computer operations are conducted through browsers, LayerX introduces a creative approach to corporate security that is user-friendly, robust, and easily implementable in large organizations. This approach transforms the browser from a major vulnerability to a strength, facilitating secure work across devices. Our investment in LayerX isn’t just driven by the promising opportunity but also by the potential impact of the company’s solution on organizations, regardless of where employees conduct their tasks.”
About LayerX
LayerX was founded in 2022 by Or Eshed, CEO, and David Weisbrot, CTO, who developed web attack and defense systems during their military service. In 2017, Eshed led the exposure of the largest attack campaign in history on the Chrome browser, which involved tens of millions of compromised browsers and even led to the capture and trial of the hackers. LayerX has Fortune 100 clients worldwide.
LayerX Enterprise Browser Extension natively integrates with any browser, turning it into the most secure and manageable workspace, with no impact on the user experience. Enterprises use LayerX to secure their devices, identities, data, and SaaS apps from web-borne threats and browsing risks that endpoint and network solutions can’t protect against. Those include data leakage over the web, SaaS apps and GenAI Tools, malicious browser extensions, phishing, account takeovers, shadow SaaS, and more.
The post LayerX Security Raises $24M for Innovative Browser Security Platform appeared first on Cybersecurity Insiders.
May 02, 2024 at 06:40PM
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