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With cybersecurity companies going after the big enterprise fish, mid-sized companies can get lost in the shuffle. But Morphisec has developed an endpoint protection service that’s designed to be cost-effective enough to serve them high-quality protection.
As the pandemic stretches these companies even further, Morphisec has found itself in high demand. Today, the company announced it has raised $31 million in a funding round led by JVP, with participation from Orange and Deutsche Telekom Capital Partners.
Morphisec CEO Ronen Yehoshua said security for mid-sized companies is taking on greater urgency as they struggle with migration to the cloud and other aspects of their digital transformation. By automating security, Morphisec believes it can help them overcome some of those hurdles.
“If you are able to help them to protect and prevent before the attack comes and does damage, then we solve 90% of the problem in terms of people and cost,” he said.
Morphisec relies on a technique called “moving target defense” that constantly changes the security parameters of a system to thwart cyberattacks. This enables a kind of zero trust defense that doesn’t require employees to have deep security expertise in order to combat threats.
In addition, the company helps leverage existing security tools to make them more effective. That includes a partnership for a service that makes the latest security features in Microsoft Windows 10 easier for clients to use.
By blocking attacks, Morphisec helps reduce the costs of security tools, but also the expense involved in recovering from such attacks. And companies have to spend less time and money chasing security personnel in an extremely competitive talent market, Yehoshua said.
The company says it is currently protecting 7 million endpoints and plans to use the latest funding to expand its team in the U.S. and Israel.
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